Im a single member LLC filing a schedule C for the tax year 2017. Can I deduct the cost of TurboTax and any CPA consulting fees on my schedule C rather than under Schedule A tax prep? Is this considered a shared expense between business and personal?
To deduct tax preparation fees, you must itemize deductions on Schedule A, and the sum total of your miscellaneous deductions including your fees must exceed 2% of your Adjusted Gross Income.
Given the above limitations you may not be able to benefit from your tax prep expenses.
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