Legal Question in Tax Law in New York

is federal restitution paid tax ded?

i owe federal restitution from a judgement placed against me from a securities fraud case years ago i am required to pay 10% of my gross income is this $$$ tax ded? im paid by w-2 im not self employed -wife,kids, house, etc? i paid about 6-7k im wondeing can i write these funds off???

thanks for your help

ERIK


Asked on 2/05/08, 4:16 pm

1 Answer from Attorneys
Johm Smith tom's

Re: is federal restitution paid tax ded?

Because this is a punishment, I expect that you can not write the payment off.

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Answered on 2/05/08, 4:24 pm


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