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mfbaldwin
April 30, 2024
Question

Can I claim Turbotax fees? Would it go in with my rental property information?

  • April 30, 2024
  • 1 reply
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    1 reply

    cyadav
    cyadav
    April 30, 2024

    In most cases, no, the cost of tax software is not a deductible expense.

    BUT, there are a couple of exceptions:

    • If you’re self-employed or earned rental income, accounting and tax prep software expenses are considered eligible business/rental deductions.
    • Commission employees may claim accounting fees and the cost of tax prep software as employment expenses. As with other employment expenses, have your employer complete and sign a Form T2200, Declaration of Conditions of Employment.

    See: https://turbotax.intuit.ca/tips/tax-tip-deducting-income-tax-preparation-fees-and-software-expenses-...

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