Can you tell me how much I spent for TurboTax last year so that I can deduct it this year?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Deluxe Online

S

SweetieJean

Employee

Only the amount that is in excess of 2% of AGI qualifies as an itemized deduction.

VolvoGirl

Employee

It's usually not worth even putting in. It is a Misc Deduction and only the amount OVER 2% of your AGI is deductible. And then all your deductions have to be more than the Standard Deduction to give you any benefit. You can only deduct the actual fees not the extra Refund Processing Service charge you paid to have the fees deducted from your federal refund.

For example, you make $20,000 AGI. Only the amount over $400 (20,000 x .02) would even be deductible. And that's only for 20,000 AGI. For like 50,000 AGI only the amount over $1,000 would be deductible.