Hi everyone. I have a question about deducting tax preparation costs and need some help. I know the TC&JA got rid of the deduction for tax prep for individuals, but it seems like that is still allowed for businesses. So, I'm trying to determine if I'm actually eligible. Here are the details:
Last year I paid an accountant to handle two 2017 returns:
- Personal - included a Schedule C for a single member consulting LLC (still active)
- Business - consisted of a 1065 for a two member LLC (closed at the end of 2017)
It seems like I am able to deduct the cost for my personal/consulting LLC return as part of my 2018 Schedule C - is that correct?
For the business, it seems like if it was still active I could deduct it as a standard business expense. But, since it is closed, it's not clear. Can I deduct the cost on my personal/consulting LLC return? If so, where would it go?
Thanks in advance for your help.