Tax Preparation Fees

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#1
Bob A  
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Are you applying your preparation fees to Schedule C, E etc?
Or not applying them at all?
How are you determining any allocation?
 

#2
ATSMAN  
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MA
Yes, based on the time spent on Sch C or F compared to the rest of the 1040. So it generally ends up 50% to 75%.
 

#3
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EDIT (misunderstood question)
Last edited by ItDepends on 14-Feb-2019 12:51am, edited 1 time in total.
 

#4
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Northern MI and Coastal SC
If a 1040 has Schedule C, or Schedule E activity not flowing in from a business return, I have started breaking out the fees between Schedule C/E vs. personal. I agree, it is typically 50-75% allocated to Schedule C/E. Clients appreciate it because they can still receive some tax benefit for paying my fees, more so now than ever with the Misc. Deductions disappearing.
 

#5
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Texas
I do allocate to C or E. If the AICPA was doing it lobbying job any tax prep fees would be deductible on page 1. Well the old page 1, FOR AGI.
 

#6
ATSMAN  
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I agree. Cost of tax return preparation including e-filing or mailing to a limit for non business returns should be a above the line deduction IMHO. Similar to the Teachers $250 deduction.
 


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