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There have been some updates made in this section of TurboTax. Please share whether you are still experiencing the issue you described.
There have been some updates made in this section of TurboTax. Please share whether you are still experiencing the issue you described.
It appears the issue was resolved with the updates this past week. Thank you!
Tax not calculating when entering things like tax preparation fees, cost of Turbo Tax ?? BUG
@parmharg Where are you entering the fees? As Business expenses on schedule C or a itemized deduction on Schedule A?
Tax preparation fees are no longer deductible on Schedule A from 2018 to 2025.
https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-tax-prep-fees-as-a-deducti...
But when it was deductible it wasn't worth even putting in. It is a Misc Deduction and only the amount OVER 2% of your AGI is deductible. And then all your deductions have to be more than the Standard Deduction to give you any benefit. You can only deduct the actual fees not the extra Refund Processing Service charge you paid if you selected the option to have the fees deducted from your federal refund.
@parmharg Tax return preparation fees are not deductible as an itemized deduction on Schedule A on the federal tax return due to the tax code changes for tax years 2018 thru 2025.
If you own a business and pay tax preparation fees those are entered as a business expenses on your Schedule C.
Tax Prep fees are not deductible on your federal return. @parmharg The 2% rule referred to the limitation on certain miscellaneous itemized deductions, which included things like unreimbursed job expenses, tax prep, investment, advisory fees, and safe deposit box rentals.
Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the deduction for these 2% miscellaneous expenses has been suspended in tax years 2018 through 2025. However, this doesn’t affect:
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