Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 20, 2021 4:29:28 AM

Can I use a portion of management fees in my return

0 1 207
1 Replies
Level 6
Jan 12, 2022 6:25:34 AM

We appreciate you choosing TurboTax,

 
You may claim management and administrative fees on your income tax return if you incur them as a result of operating your business.
 
You can claim these expenses by using Form 2125, Statement of Business and Professional Activities, and including the total of these fees on line 8871. Then, they are subtracted to arrive at your net business income, which is transferred to your income tax return form T1 General.

 

Please visit the link provided for further clarifications:

TurboTax: Tax Tip: Claiming management and administration fees

 

Please contact our phone support team or contact us directly on Facebook or Twitter if you require further assistance.