Can I deduct the cost of turbotax home and business 2015 on my schedule C under professional expenses?

[mikebrignola]

I paid 109.99 $ on Mar 24 for 2015 download of TT home and business

[Marketstar · Accepted solution]

No, to deduct tax preparation fees, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your fees must exceed 2% of your Adjusted Gross Income.

Given the above limitations you may not be able to benefit from your tax prep expenses.

To enter tax preparation fees:

• Type in tax preparation fees, the search box, top right of your screen, then click the magnifying glass

• Click the jump to tax preparation fees link in the search results

• Follow to prompts and online instructions