Solved: I completed tax returns for 2011, 2012, 2013, 2014, and 2015 in 2016. Is the cost of the turbotax software deductible?
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I completed tax returns for 2011, 2012, 2013, 2014, and 2015 in 2016. Is the cost of the turbotax software deductible?

I was behind in completing my taxes for various reasons. In 2016, I completed Federal and California State taxes for years 2011-2015.

Can the cost of the turbotax software for all of those years be deducted for tax year 2016 since that is the year I purchased the software?

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Level 15

I completed tax returns for 2011, 2012, 2013, 2014, and 2015 in 2016. Is the cost of the turbotax software deductible?

As Critter#2 said, you can enter the tax prep fees you paid for all of those returns you took care of in 2016.  But they may or may not make much of a difference for you.  

Tax prep fees are miscellaneous deductions, and only the amount that is over 2% of your adjusted gross income counts toward your itemized deductions.  So unless you have a lot of other miscellaneous deductions, it won't end up making a difference in your tax due or refund.

To find them:  Sign on to your account, click your Account & choose Orders; on Review Orders click view details;

If you need to enter your tax preparation fees go to Federal>Deductions and Credits>Other Deductions and Credits>Tax Preparation Fees and click Start.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

View solution in original post

2 Replies
Level 15

I completed tax returns for 2011, 2012, 2013, 2014, and 2015 in 2016. Is the cost of the turbotax software deductible?

As Critter#2 said, you can enter the tax prep fees you paid for all of those returns you took care of in 2016.  But they may or may not make much of a difference for you.  

Tax prep fees are miscellaneous deductions, and only the amount that is over 2% of your adjusted gross income counts toward your itemized deductions.  So unless you have a lot of other miscellaneous deductions, it won't end up making a difference in your tax due or refund.

To find them:  Sign on to your account, click your Account & choose Orders; on Review Orders click view details;

If you need to enter your tax preparation fees go to Federal>Deductions and Credits>Other Deductions and Credits>Tax Preparation Fees and click Start.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

View solution in original post

Level 15

I completed tax returns for 2011, 2012, 2013, 2014, and 2015 in 2016. Is the cost of the turbotax software deductible?

Yes it can.

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