Can I claim my tax preparation fees from my 2020 tax year?

Fees paid for your accountant to prepare your income tax return can be entered as investment fees.  Please keep in mind that you are only able to deduct these expenses in a few situations: 

• If you’re self-employed or earned rental income, accounting expenses are considered eligible business/rental deductions.
• Commission employees may claim accounting fees as employment expenses.

For more information, please see our TurboTax article Tax Tip: Deducting Income Tax Preparation Fees and Software Expenses

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