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You can only deduct expenses that are ordinary and necessary for your self-employed activity. Is it common for contractors to change their first names for business purposes? If not, you might have difficulty substantiating this expense if your return is ever selected for audit by a taxing authority.
Thanks fo your response! Well, I had to change it cause no one ever knows how to pronounce it and spell it. That led to contract confusion, wrong 1099s, etc. It should be a good enough reason in my view. What category would I use to write this off? Turbotax is offering "commissions," which doesn't sound right to me. Thanks again!
The fee for changing your name may qualify to go under legal expense. Or you could list it as a Miscellaneous Business Expense where you can enter your own description and amount for the expense.
As stated by user GiseleD, be sure to keep any documentation you may have to help substantiate the fact that the name change was required for business purposes. For example, if you have contracts or 1099s that were wrong due to your name, you should keep those for your records.
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