Is the $40 Turbotax fee a tax deductible expense?

[Lvsingh_2692]

For Canadian tax payers, the cost of tax prep software (such as turbotax) are only deductible under certain conditions:

1.  If you’re self-employed or earned rental income, accounting and tax prep software expenses are considered eligible business/rental deductions.

2.  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.

I suggest you to check the turbotax post on this matter. 

If you require further assistance please contact our phone support team for further assistance or contact us directly on Facebook or Twitter.

[Lvsingh_2692]

For Canadian tax payers, the cost of tax prep software (such as turbotax) are only deductible under certain conditions:

[Lvsingh_2692]

1.  If you’re self-employed or earned rental income, accounting and tax prep software expenses are considered eligible business/rental deductions.

[Lvsingh_2692]

2.  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.

[Lvsingh_2692]

I suggest you to check the turbotax post on this matter. 

[Lvsingh_2692]

If you require further assistance please contact our phone support team for further assistance or contact us directly on Facebook or Twitter.

[Lvsingh_2692]

If you require further assistance please contact our phone support team for further assistance or contact us directly on Facebook or Twitter.