Re: Deducting cost of tax preparation software for independent contractor

Deducting cost of tax preparation software for independent contractor

I have a regular job and I a side job (independent contractor). As a result of the side job, I buy Turbotax Home and Business to prepare my taxes. Is it possible to deduct the cost of TurboTax against my earnings as an independent contractor especially as it cost me more than the standard version. If so, where?

posted

Yes. My recommendation is to deduct the difference in the cost of TurboTax Home and Business, and the version you would be required to use if you were not an independent contractor.

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