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Tax preparation fees from last year was $600.00 How can I enter this as expense?

 
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1 Reply
MargaretL
Expert Alumni

Tax preparation fees from last year was $600.00 How can I enter this as expense?

Please follow steps below to enter tax preparation fees:

  1. Federal Taxes
  2. Deductions & Credits
  3. Other Deductions & Credits
  4. Tax Preparation 

 

NOTE: Most of the individuals do not get a tax benefit from the tax preparation deduction because it is governed by two rules...To get the deduction, you need to:

  1. Itemize your deductions; and
  2. The sum of your miscellaneous expenses (which also includes things like unreimbursed employee-related expenses, investment expenses, and safe deposit box fees) must exceed 2% of your Adjusted Gross Income (AGI).

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