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posted Jan 26, 2022 10:11:41 AM

QuickBooks Online Payment fees - where do I record these expense in TurboTax

For my business I use QuickBooks Online. When a customer pays using there Credit Card, QuickBooks charges a QuickBooks Payment fee based on the dollar amount of the sale. Where in TurboTax do I record these fees?

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1 Best answer
Level 13
Jan 26, 2022 12:44:52 PM

I assume you are filing a Schedule C.

If so, just set up an expense account called "CC fees" or something along those lines.

I would add this to QuickBooks as well.

2 Replies
Level 13
Jan 26, 2022 12:44:52 PM

I assume you are filing a Schedule C.

If so, just set up an expense account called "CC fees" or something along those lines.

I would add this to QuickBooks as well.

Expert Alumni
Jan 26, 2022 12:51:09 PM

Credit card processing fees, like bank fees, are deductible Business Expenses. You may enter the total under Other Common Business Expenses >> Other Miscellaneous Expenses using your own description. Where you report these expenses doesn't matter, as long as you keep good records to document the amount you report.