Can we deduct cost of turbo tax?

[SweetieJean]

Only the amount you paid in 2016, not what you are paying now.

[MargaretL · Accepted solution]

Yes, you can. The tax preparation fees are deductible as itemized expenses. Here is data entry:

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).