Question

Can TurboTax costs be a deduction

Forum|Forum|4 years ago
February 10, 2022
1 reply
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I sell on eBay and am filling out Self Employed Turbo Tax. One of the listed deductions is "Tax Preparation fees." Can I list here whatever it is I will be paying to file my taxes with TurboTax? If so, would I only list the federal fee, or also the state fee?

Thanks!

TurboTax Self Employed Online

M

Mike9241

yes but not all unless your only income is schedule C. if you don't itemize on schedule A, I would say the proportion to use is your schedule C net income to your adjusted gross income.

another method would be the cost of the self-employed version over the version you could use if you didn't have schedule C.

another method might be the time you spend on schedule C to the total time you spend on your return

in other words some logical method of apportionment.