Win $100! Tax Law Changes Sweepstakes

[ErickaY]

This sweepstake has ended

Thank you so much to everyone that participated! We appreciate you sharing your experiences with our community. A winner will be randomly selected and contacted to claim their prize.

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Welcome everyone, new and returning! 

We’re excited to share another sweepstakes and another chance to win a $100 gift card with you. This month, we’re discussing recent tax law changes. 

There have been some changes in tax law the last few years and with each change we get a little better at navigating the world of taxes. This year we have some new tax codes to learn but with the help of TurboTax, our Community, and our Live Experts we can be reassured that learning these tax changes can be easier than ever. For the sweepstakes this month we are asking you to reply with what tax law changes might impact your taxes the most. Replying to this post with your experiences will enter you in a chance to win a $100 gift card. A winner will be randomly selected from this thread on January 25th, 2023.       

If you have questions about how tax law changes can affect your 2022 taxes, please join us for a LIVE Q&A on Wednesday, January 25th any time between 9:00am and 5:00pm Pacific Time to ask our Tax Experts your questions and get advice about taxes and tax law changes, for free! Learn more and RSVP here.                                                                                                                                                                                                                                          

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We will be hosting the Tax Law Changes sweepstakes to give you, and others, the opportunity to share your experiences. One lucky winner will be chosen randomly to receive a $100 gift card.

• WHAT: Sweepstakes for a $100 gift card
• WHEN: Entries will be accepted from January 12, 2023 through January 25, 2023 at 5:00 pm Pacific Time
• HOW: Enter by adding a comment to this post sharing any major life events you expect to affect your taxes. If you are the winner, we will send you a private message. The winner will be selected at random on January 26th, 2022

[JFogus84]

Helpful! 

[Txran]

For 2022, there were no 1099-K changes because they were delayed, right? But next year, it's going to affect me for sure. I have a small business at a summer farmers market (4 months a year and small beans) and any payments I get in through Venmo or CashApp (totaling over $600) will initiate a 1099. Also, if friends or family send money and don't click the right option, it will be listed as business income. It could cause a little extra work next year to make sure all of it is straight. I keep good records now, but next year, 3rd parties will be keeping records too and they'll need to be reconciled to agree. Hopefully it will all just work out like it's supposed to. 

[alovelady]

No above-the-line charitable deductions. During COVID, taxpayers could take up to a $600 charitable donation tax deduction on their tax returns. However, in 2022, those who take a standard deduction may not take an above-the-line deduction for charitable donations.

[COOKSG]

CHILD CARE

Child tax credit enhancements
have expired. 

I AM SURE IT WILL AFFECT MANY FAMILYS 

[Joker2092]

The  dependent credit really affected me this year as I could not claim my child or my spouse on my taxes due to the irs saying both social security numbers were wrong and i have both numbers and entered them both correctly so it really messed my taxes up this year hopefully when I file 23 in 2024 it won't mess them up again. I could really use that extra $100 gift card to help me and my fiancee get a place for us and our daughter so that we aren't living on the streets 

[jk019]

My taxes will most likely be impacted the most by the higher standard deduction.

[hminnesota]

Not sure which laws or change in existing laws but since both our kids are out in college, it sure will impact us.