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May 22, 2024
Question

TurboTax Costs

  • May 22, 2024
  • 2 replies
  • 0 views

In the past, the purchase of TurboTax was deductable or so stated by previous versions. Are these costs still deductible? I just want to keep track of the costs if they will be in 2024.

2 replies

Employee
May 22, 2024

@tsukada2006 wrote:

Are these costs still deductible?


No, as a result of tax reform (the TCJA) the costs are miscellaneous itemized deductions and have been eliminated through the 2025 tax year.

May 22, 2024

thank you!

May 22, 2024

If you have a Schedule C business and are using TurboTax Home and Business to complete your tax return, then a reasonable portion of the cost of the software is deductible as an ordinary and necessary business expense.