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New Member
posted Jun 14, 2021 8:20:44 AM

Why does TT mix in banking fees with other management and administration fees, when CRA sees them as different? Mgmt & admin are for software subscriptions and the like.

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Level 5
Dec 29, 2021 9:15:08 AM

As per CRA:

Line 8871 – Management and administration fees are: management and administration fees, including bank charges, incurred to operate your business. Bank charges include those for processing payments.

 

In TurboTax Online Self-Employed, you can put software subscriptions in office supplies (Line 8810 – Office expenses or Line 8811 – Office stationery and supplies) or in other expenses (Line 9270 – Other expenses)

 

You may also be interested to check this TurboTax article: Computer Software Deductions for Business Owners

 

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