Tax Prep fees are not deductible on your federal return. @parmharg The 2% rule referred to the limitation on certain miscellaneous itemized deductions, which included things like unreimbursed job expenses, tax prep, investment, advisory fees, and safe deposit box rentals.
Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the deduction for these 2% miscellaneous expenses has been suspended in tax years 2018 through 2025. However, this doesn’t affect:
- Self-employed individuals and businesses who can continue to deduct business-related expenses on Schedule C as before
- People who work in one of these specific professions or situations:
- Armed Forces reservist
- Qualified performing artist
- Fee-basis state or local government official
- You're disabled and have impairment-related expenses
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