Is my TurboTax payment a deductable expense for 2018?

[denisjreid]

just need to know if payment to Turbo Tax a deductible expense? It's a simple question. Answer is "yes" or "no".. Turbo Tax should know the answer.

[TurboTaxTara · Accepted solution]

In most cases, no, the cost of tax software is not a deductible expense.

BUT, there are a couple of exceptions:

• 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.

See: https://turbotax.intuit.ca/tips/tax-tip-deducting-income-tax-preparation-fees-and-software-expenses-...