I am self-employed. What section do i claim visa debit transaction fees?

[vikkicrane]

I use a point of sale machine for clients to pay for purchases. I am charged a fee for each transaction I run through the machine as well as a rental fee to use the machine. Where do i claim these expenses on my taxes? Under which heading?

[TurboTaxLise · Accepted solution]

You will be filling out the Self-Employment" T2125 form. Which is located under the Income Section once you have completed the Profile section of your return, drop down to Self-Employment and start from there. Go through each screen one at a time, enter in the information requested pertaining to your small business. 

You will come to a screen that says" How much did you pay for Banking and Other fees? Enter how much you paid for banking charges and other management and administration fees."  This is where you would enter in these fees.