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Returning Member
posted Dec 12, 2021 11:20:31 AM

Where do you enter payment processing fees in Turbotax?

when I accept a payment in PayPal or Stripe for services, they charge me a fee. I'm supposed to be able to write these off, but I don't know where to put them in TurboTax. A search in help returns no results.

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3 Replies
Level 15
Dec 12, 2021 11:24:40 AM

Enter them in the Other miscellaneous expenses section under a category of your choosing ... bank fees or processing fees would be appropriate.    Use this section for any expense that doesn't fix in the other 17 categories. 

 

Be careful ... sometimes the fees have already been deducted from the gross sales and the 1099 only reports the net after fees.   If so you cannot deduct them again.  

Returning Member
Dec 12, 2021 11:55:08 AM

these aren't fees for item sales, it's for accepting payments for services using PayPal and Stripe.

Level 15
Dec 12, 2021 11:59:25 AM

Same answer.  Enter it as a misc expense.