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kemokeda
New Member

Can I deduct fees paid to accountants for tax preparation?

 
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5 Replies

Can I deduct fees paid to accountants for tax preparation?

If you do not have a business and are not filing a Schedule C then you cannot deduct tax preparation fees on a federal tax return.

hankwin
New Member

Can I deduct fees paid to accountants for tax preparation?

yes

Can I deduct fees paid to accountants for tax preparation?

If you have a business and a Schedule C is part of your tax return you can enter the costs of preparing your tax return on your schedule C.  Otherwise, no.   Tax preparation fees were eliminated as a federal deduction when the tax laws changed for 2018 and beyond.

 

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
FI60
Level 3

Can I deduct fees paid to accountants for tax preparation?

Piggybacking on above question: If you use Turbotax Home and Business, can you deduct the full amount? If not, how do you determine what you can deduct?

ThomasM125
Expert Alumni

Can I deduct fees paid to accountants for tax preparation?

You can deduct the additional cost of the Home and Business tax product as a business expense. In other words, if you could have used the free edition of TurboTax to prepare your tax return if you didn't have to report business income and expenses, you can deduct the full cost of TurboTax Home and Business as a business expense. @F160

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