StudioTax and ttc passes

[aabbaa1975]

For those of you who have used StudioTax, how do you account for the TTC passes? It does prompt you at the beginning; is this where you place in the total amount (say 10 passes "times" $104) or is it a bit more complicated?

 

[Tangwhich]

Yes, just total it. $1040 in your example.
You should be able to enter it manually on line 11 of the Federal Schedule 1 page.

 

[aabbaa1975]

Thanks for your response, it just seemed to simple! (As you could tell, this is my first time!)

 

[aabbaa1975]

wait...

How does the taxing agency know that you purchased 10 passes? Like I mean someone can easily claim that purchase 12 when the only purchased 10. Don't we have to submit the passes somehow?

 

[SynFolly]

How does the taxing agency know that you purchased 10 passes? Like I mean someone can easily claim that purchase 12 when the only purchased 10. Don't we have to submit the passes somehow?

when you are audited have to supply documentation

 

[aabbaa1975]

when you are audited have to supply documentation

So... make sure you hold onto the passes.