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Level 2
posted Jun 1, 2019 12:14:54 AM

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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1 Best answer
Expert Alumni
Jun 1, 2019 12:14:55 AM

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.

1 Replies
Expert Alumni
Jun 1, 2019 12:14:55 AM

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.