Are Turbo Tax software purchases tax deductible? (2018, post-TCJA)

[19ValenteDavid40]

Can I prepare multiple returns in one turbo tax?

[DoninGA]

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@19ValenteDavid40 wrote:

Can I prepare multiple returns in one turbo tax?

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The TurboTax online editions can only be used for one tax return per account and User ID.  For another tax return using the online editions you would have to create a new account with a New User ID.  Up to 5 User ID's can be associated with one email address.

The TurboTax desktop CD/Download editions can be used for as many tax returns as needed.

[Kn01b]

I've used turbo tax many yrs -- can't recall account #. Before buying 2020 version I want to ensure that I will receive same acct # as before. This will ensure that I'm able to import data from my 2019 Turbo tax return. Can you help me?

Thank You

[NashayLO]

What account# are you looking for? In order to transfer your 2019 tax file to your 2020 TurboTax Software, you can click on Begin or Start a New Return, then the software will find your 2019 tax file, or you can click on Browse. Once you find your 2019 return, Click Transfer Return. 

[perkylzd]

I agree ... there used to be a section that asked if you paid for tax preparation for the previous year.  Then you could enter the amount you paid for either a preparer or a tax program.  They didn't ask last year or this year (2021)

[PattiF]

Unless you’re self-employed, tax preparation fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Self-employed taxpayers can still write off their tax prep fees as a business expense.

Prior to 2018, taxpayers who weren’t self-employed were allowed to claim tax prep fees as a 2% miscellaneous deduction. However, few taxpayers were able to take advantage of this deduction due to the restrictive conditions of the 2% rule.

[noodad]

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@DoninGA wrote:

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@19ValenteDavid40 wrote:

Can I prepare multiple returns in one turbo tax?

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The TurboTax online editions can only be used for one tax return per account and User ID.  For another tax return using the online editions you would have to create a new account with a New User ID.  Up to 5 User ID's can be associated with one email address.

The TurboTax desktop CD/Download editions can be used for as many tax returns as needed.

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I know we're getting a bit off topic here -- but for situations where the multiple returns are for a married couple, still think this is a big miss for TurboTax. What would be useful is for the software (at least the download version but maybe the online version too) to allow to file both ways. That is, go through all of the interviews for both people, for federal plus whichever states are appropriate, and at the end TurboTax should be able to figure out whether it is more advantageous to the customer to file jointly or separately. Then if it turns out separate would be better, have TurboTax just submit both returns, without all the hassle of having to create another account and now have to re-enter all the information for one spouse all over again and go back and delete it from the first account. So, two objectives for this feature: (a) TurboTax advises whether joint or separate would be best, and (b) TurboTax doesn't make the customer have to do all that extra data entry for no reason

And even for other situations (besides married couples), it would be really nice, for those of us who file tax returns for other family members / significant others etc, to be able to just have one account and have multiple taxpayers on it. So there would be only one username and password to enter, only one set of contact information to put in, payment is handled all together, and maybe also TurboTax can give a little bit of a break on the fees to file for extra taxpayers rather than charging the full fee as they do now for each account.

[DanielV01]

Thank you for the input.  As currently designed, the download/cd version does allow up to 5 Federal e-files for one price.  As long as everyone is filing the same state return, you can paper-file these returns for free.  And, in fact, you can paper-file an unlimited number of returns (Federal and State) at no additional charge.  But the program is limited to 5 e-files.  That is an IRS mandate, because more filings would require the software to be professionally registered with the IRS.

[noodad]

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@DanielV01 wrote:

Thank you for the input.  As currently designed, the download/cd version does allow up to 5 Federal e-files for one price.  As long as everyone is filing the same state return, you can paper-file these returns for free.  And, in fact, you can paper-file an unlimited number of returns (Federal and State) at no additional charge.  But the program is limited to 5 e-files.  That is an IRS mandate, because more filings would require the software to be professionally registered with the IRS.

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Right -- I understand that. For the comments about the single user account, I meant that would be useful for the online version; I know the download version doesn't require an online account to just use TurboTax. And it was the state fees I was thinking of re: discounts. For the online version, it would be a small but nice win if it could manage multiple taxpayers, even if it were limited to 5.

But the main thing I was thinking about was the whole joint vs separate thing. I wish that were a feature, that the software could seamlessly handle joint vs separate (for federal and state) and file one or two returns as needed. I know it would be complicated (expensive) for Intuit to implement this but I think worth it, even if it were only made available in a higher tier like Deluxe or Premier.

Thanks for writing back so quickly -- that was fast!

[SweetieJean]

As long as you are not a paid tax preparer, you can use it for multiple 2020 tax returns.  Earlier years require separate software for each year.

[mahimahimom]

Yes, Volvo Girl, but on schedule C you can always deduct the whole thing, correct? 
Under:

Let's enter the legal and professional expenses for your Real estate work

Some examples include:

• Tax preparation fees
• Professional memberships
• Organization dues
• Accounting fees
• Legal fees
• Other legal and professional fees expenses

See more examples

Am I correct?  I am about to put my TT expenses there for TY 2021 ...

[AnnetteB6]

Yes, you can claim the TurboTax fees as part of your Schedule C expense.  

@mahimahimom

[qwikensite]

Software reads I can deduct the Business Portion of the Turbo Tax for 2021.  I paid $120.00 how much is the Business Portion deduction?

[MonikaK1]

Self-employed taxpayers can still write off their tax preparation fees as a business expense.

Please see this TurboTax help article for more information.

[qwikensite]

To be more specific: I'm Using Turbo tax Home and Business 2022. Please follow on with me in the software I'm in the Business Income and Expenses Section. Any Miscellaneous Expenses section which reads: Examples include:  Then under See More Examples:  it is written

- Tax return software (business portion)

** I am retired from the U.S. Navy, retired from Civil Service, collect Social Security and have a business that sells articles on the internet.  I don't make any money, always a loss!  Two years ago I was told when I spoke with a Turbo Tax Professional on the phone to put down $40.00 under the description area. This year I paid $120.00 for Turbo Tax Home and Business.**

I expect that when the software tells me the "Business Portion" is deductible, that it is.  It is Turbo Tax Software.  How much do I put in the description for the Business Portion?