Paid Preparer Tax Preparation Fees

(For Reference Only)

This information can be helpful when discussing with a taxpayer the costs of having a paid preparer do their tax return.

According to the IRS, these are the average fees taxpayers can expect to pay if they use a paid preparer. (Of course, 'average' means some preparers charge more and others charge less.)

  • Form 1040 with Standard Deduction: $152.
  • Form 1040 with Itemized Deductions: $261.
  • Schedule C (Profit or Loss From Business): +$218
  • Schedule D (Capital Gains and Losses): +$142
  • Schedule E (Supplemental Income and Loss): +$165
  • Schedule K-1 Form 1041 (Beneficiary): +$497
  • Schedule K-1 Form 1065 (Partnership): +$590
  • Schedule K-1 Form 1120S (S-corp): +$761

Doing some quick math, preparing a 1040 with Itemized Deductions plus a Schedule D will cost, on average, $403.

And the lawn guy with Standard Deductions and a Schedule C?  $370.

So, yes, it would seem we do, indeed, perform a valuable service to our clients.