" if I can claim some deduction for a safe that I purchased to secure my documents for legal documents ."--->In general, as you know, legal expenses incurred during the sale or purchase of your rental property are not tax deductible and are included in the capital gains tax calculation when disposin gof your rental property. But, I guess there are legal expenses that you can claim as your income tax deduction;you can deduct legal expenses to prepare a lease agreement with your tenant, or to evict a non-paying tenant. However, you can't claim your deduction on legal costs associated with defending your title to the property (for example, defending an action by the mortgagee to take possession of the property where you have defaulted under the loan). |