Hi,
Just so I'm clear on this :
I'm retired living off of Social Security and Investment Accounts as my only sources of income.
In 2019, I funded a short film for my son,who is a filmmaker. I did this as an investment for me.
I don't expect the film to make any money.
For taking a deduction for this expense, I'm referencing IRS Tax Code 181 (Treatment of Certain Qualified Film and Television and Live Theatrical Productions) and 1.181.1(Deduction for Qualified Film and Television Production Costs).
I already have Turbotax Deluxe for 2019.
You previously corresponded that I need to upgrade to Turbotax Home and Business to handle this deduction.
Is that correct?
Thanks !
Reggie Johnson
