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?
023266
1 Best answer
Rick19744
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
Rick19744
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.
PatriciaV
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.