How can I deduct tax preparer fees when filing my cryptocurrency taxes?

3 answers

• F CJan 05, 2021 · 5 years ago
  Yes, you can deduct tax preparer fees when filing your cryptocurrency taxes. The fees you paid to the tax preparer are considered a miscellaneous deduction and can be claimed on Schedule A of your tax return. However, keep in mind that miscellaneous deductions are subject to a 2% of adjusted gross income (AGI) floor, which means you can only deduct the amount that exceeds 2% of your AGI.
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• Angelina NyavoNov 28, 2021 · 4 years ago
  Absolutely! When it comes to filing your cryptocurrency taxes, you can deduct the fees you paid to a tax preparer. These fees fall under the category of miscellaneous deductions and can be claimed on Schedule A of your tax return. Just make sure to keep proper documentation of the fees paid and consult with a tax professional for guidance on how to accurately report them.
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• McConnell BairdJan 01, 2021 · 5 years ago
  Yes, you can deduct tax preparer fees when filing your cryptocurrency taxes. The IRS allows you to deduct expenses that are necessary and directly related to the production of taxable income, and tax preparation fees fall under this category. However, it's important to note that not all tax preparation fees are deductible, so it's best to consult with a tax professional to determine if your specific fees qualify for the deduction.
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