A Sole Proprietor Paid Legal Fees in Connection with the Acquisition

question 101

True/False

A sole proprietor paid legal fees in connection with the acquisition of a building that he uses in his business.The sole proprietor can deduct the legal fees for AGI.

---

Definitions:

Cab Ride

A trip or service provided by a taxi or cab, often charged based on distance and time.

Services Sector

The segment of the economy that involves offering intangible products such as healthcare, education, and financial services.

Health Care Professionals

Individuals who provide health care or medical services to patients, including doctors, nurses, and therapists.