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Deductions & credits
Yes, you can if you are self-employed and the software is an ordinary and necessary expense for your business. If that is the case, you can deduct it as a self-employment expense.
Here's how to enter it as a self-employment expense:
- Sign in to TurboTax.
- Select Wages & Income.
- Select Edit/ Add to the right of Self-employment income and expenses.
- Select Edit below your self-employment activity.
- Continue until you get to Select the expense categories you have.
- Check the box next to Other miscellaneous expenses and select Continue.
- Select Start next to Other miscellaneous expenses.
- Enter a description and amount on this screen.
If you aren't self-employed, you can't deduct that sort of expense on your federal return at all.
If you put it under Miscellaneous expenses as suggested above, it will flow to you state return if you live in a state that still allows those deductions. It won't affect your federal return at all.
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March 5, 2024
1:50 PM