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Doing Business taxes for an LLC which is a company doing futures trading and software development. What deduction category would software data fees be in?

Would like to the know the common business expense that I should use for data fees for a trading platform.  Thank you!

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PatriciaV
Employee Tax Expert

Doing Business taxes for an LLC which is a company doing futures trading and software development. What deduction category would software data fees be in?

Yes, in most cases software data fees may be reported as Subscriptions or under All Other Expenses with a custom description. 

How you categorize your expenses is not critical for your business tax return. Just be sure you do not enter the same expense twice.

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1 Reply
PatriciaV
Employee Tax Expert

Doing Business taxes for an LLC which is a company doing futures trading and software development. What deduction category would software data fees be in?

Yes, in most cases software data fees may be reported as Subscriptions or under All Other Expenses with a custom description. 

How you categorize your expenses is not critical for your business tax return. Just be sure you do not enter the same expense twice.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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