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Not applicable
posted Jun 1, 2019 12:10:12 AM

Can I proportion the cost of TurboTax between my personal and business expenses and deduct a portion for the business?

I am using the Home & Business TurboTax version.

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1 Best answer
New Member
Jun 1, 2019 12:10:13 AM

Yes, you can split the cost between the two. I would include the lion-share of the expense as a business expense. The reasoning behind this would be that the Turbo Tax Self Employed version was only purchased because of the business to begin with. Had it not been for the business, a cheaper product could have been purchased. I'd put a third of the cost on the Schedule A (personal) and the rest as a business expense.

1 Replies
New Member
Jun 1, 2019 12:10:13 AM

Yes, you can split the cost between the two. I would include the lion-share of the expense as a business expense. The reasoning behind this would be that the Turbo Tax Self Employed version was only purchased because of the business to begin with. Had it not been for the business, a cheaper product could have been purchased. I'd put a third of the cost on the Schedule A (personal) and the rest as a business expense.