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Can we deduct fees paid to Turbotax to prepare federal and state return as Professional and legal fees for rental expenses?

 
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2 Replies
CatinaT1
Expert Alumni

Can we deduct fees paid to Turbotax to prepare federal and state return as Professional and legal fees for rental expenses?

Yes, but only the portion of the fees related to preparing the rental income portion of your return.  The percentage of the fees associated with this activity will depend on what other income your return reports. Determine a reasonable percentage of the total fee to attribute to the rental income activity.

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Can we deduct fees paid to Turbotax to prepare federal and state return as Professional and legal fees for rental expenses?

Thank you for the guidance.

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