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New Member
posted Aug 11, 2020 1:46:53 AM

How can i find fees i paid to square for 2019

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2 Replies
Level 15
Aug 11, 2020 5:41:39 AM

Guess you would have to check with "Square" to find that.  TurboTax has no way to find that out for you.

Level 15
Aug 11, 2020 5:54:27 AM

Ok ... we use square in our business   and the amount sent to the bank account is less the fees so you have no reason to deduct fees that were never included in the income to start with. 

 

So say you take in $100  and the fee is $5  and the square puts only $95 in the bank  ... so you will only report the $95 income and no fee expenses.    OR  ( if this is better for you or more inline with your bookkeeping methods)  you can report $100 in income and $5 in fee expenses.   Either method is allowed but you must be consistent.