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Can I claim my Turbotax software costs on my return?
Can I claim the costs of Turbo tax software?
March 13, 2022
11:54 PM
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Getting started
Accounting fees and the cost of tax prep software are only tax-deductible in a few situations:
- 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.
If your tax return is re-assessed and you consult a professional accountant for advice, those fees may be deductible in certain cases.
For more information please refer to the following Canada Revenue Agency (CRA) article:
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April 21, 2022
1:09 PM