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June 5, 2019
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We paid tax preparation for our 2015 taxes in 2016. Do we qualify for a deduction this year since the fees were over $100.

  • June 5, 2019
  • 1 reply
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Best answer by Marketstar

You may qualify for the deduction if it were under $100

However, to deduct tax preparation fees, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your tax prep fees must exceed 2% of your Adjusted Gross Income.

Given the above limitations you may not be able to benefit from your tax preparation expense.

To claim tax preparation fees:

  • Type in tax preparation fees in the search box, top right of your screen, then click the magnifying glass

  • Click the jump to tax preparation fees link in the search results

Follow to prompts and online instructions

1 reply

Employee
June 5, 2019

You may qualify for the deduction if it were under $100

However, to deduct tax preparation fees, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your tax prep fees must exceed 2% of your Adjusted Gross Income.

Given the above limitations you may not be able to benefit from your tax preparation expense.

To claim tax preparation fees:

  • Type in tax preparation fees in the search box, top right of your screen, then click the magnifying glass

  • Click the jump to tax preparation fees link in the search results

Follow to prompts and online instructions