Win $100! What do you wish you'd known the 1st time you filed taxes?

[Raph]

This sweepstakes has ended

Thank you so much to everyone that participated! It was so great to hear about all of your experiences.  A winner was randomly selected and has been contacted to claim their prize.

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Hello community members!

For first-time visitors, welcome to the TurboTax + Mint Community. For returning members, welcome back! We’re so glad to "see" you again!

As we gain life experience, our perspective on finances and taxes changes. We spend a lot of our young adult life trying to get this thing called taxes right. Sometimes life throws us curveballs, and finances can get a little hectic. Eventually, we realize it’s not the end of the world. As we learn more about managing finances, it gets easier to handle the challenges.

Now that you’re a tax filing "pro," what is something that you wish you would have known the first time you filed your taxes? For this month's sweepstakes, we are going to focus on tips that you wish you knew before starting your tax journey.

Sharing your opinions with our community could earn you a gift card to help you achieve your financial goals. To enter simply reply to this thread with your most helpful tax filing tips. On March 16th, 2022, a winner will be selected from this thread at random.

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We will be hosting the What You Wish You Knew About Taxes 2022 Sweepstakes to give you, and others, the opportunity to share your tips. One lucky winner will be chosen at random to receive a $100 gift card.

• WHAT: Sweepstakes for a $100 gift card
• WHEN: Entries will be accepted from March 1st, 2022 through March 16th, 2022 at 12:00pm Pacific Time
• HOW: Enter by adding a comment to this post telling us what you wish you knew about taxes when you first filed. If you are the winner, we will send you a private message. The winner will be selected at random on March 16th, 2022.

Refer to the attached document for the complete rules.

[NWPESSIMIST]

I wish i had known all of the different deductibles that you should be keeping track of throughout the year. Any purchases that were used for work aswell as gas purchased for miles traveled commuting to and from work.

[A_flash]

I wish I would've know how FAST and EASY it was to use the online or app that Turbo Tax offers to e-file taxes for free, the very first time I prepared my taxes myself. Turbo Tax saves a lot of headaches and avoidable errors in the filing process. 

[Fera]

I wish I would have known that I shouldn't read to much into the questions that are asked. The questions are much easier to answer if you do not look too deep. Stay focused and organized. Remember to breath. This is so easy just take o it one question at a time and if you nugget to look something up don't panic you can close out and then start right back where you left off. You got this

[ANCIENT BILL]

When I first filed in 1958 when I was 17 years old, I wish there was TurboTax so i didn't have to pay my parents CPA for doing a return for me. 

[deesmith304]

How I manage to mix up free, get a $1505 return, pay to have it done ($184) then only get $1280.

[robo660]

Im just glad that you guys have my back at turbo tax that is a weight lifted that was always heavy also I wish I had known that you all are dedicated to help ppl like me that' goes a whole lot further than any those assholes at (H&R Block) they told me one year that it would cost me more to file my taxes than what I would be getting back !! I thought okay and they where so rude to me I didn't know what to say so I went to another tax filer and got back way more than I thought I would have after H&R Block told me It would cost me more to file than what I'd get back what a bunch of snobby assholes 

[TraeCormier]

The first time I filed my taxes, I WISH I would have known that it would have been MUCH easier filing through TurboTax, as opposed to doing taxes "on my own". TurboTax really makes you feel like someone has your back. 

[Killasha6583]

I wish that I knew, that I could have had, a live tax expert to help me.

[harshaint]

I wish it was clear how to file taxes if I moved here from another country mid-year

[Laurenmefford]

I wished I known about how things worked better. Wasn't all forsure what some of it actually meant. Had to do a little research to understand the deductions etc.

[lindafriend2018]

I wish I would have known that if I paid the amount they were asking for, I will get more back. And also my husband and I didn't really know what we were doing and we filed as married but doing it separately because we both were not there at the same time and it cut our refund from like $2,000 just for me to $500. And he went from $4,000 to $500 also.... lol

[layth_numan]

I wish I knew how was the rest CTC advanced payment be calculated when getting tax return

[hirenjb]

I wish I knew how was the business deduction and home purchase calculated when getting tax return.

[Dena Padgett]

I wish I would have known that when you get married they deduct less money from your paycheck. We had to pay 800.00 . That's when I learned you can have extra money taken out so you don't end up in debt to the IRS

[Krneki20]

I wish I had know if there is crypto currency payment method when I file my tax. TurboTax is the best site for filing your tax @Raph @Dena Padgett @lindafriend2018 @layth_numan @hirenjb

[JWJW]

It was my first time using TurboTax, and I wish I knew it is much faster to e-file than to paper-file. TurboTax is really great for e-filing, and I will use it forever from now on!

[hasan082245joann1]

I wish I knew 

https://www.troweprice.com/personal-investing/resources/planning/tax/fund-specific/reporting-for-for...

Foreign Tax Credit

If you wish to take a credit, you may use the simplified or standard method. You may use the simplified method if:

• Your share of creditable foreign taxes from all sources is $300 or less (or $600 or less and you file a joint return with your spouse), and
• All such income is passive. (All ordinary income from T. Rowe Price funds is passive.) 

[3gt2bez7]

I wish I knew that the death benefit one receives can't be claimed on the deceased final taxes for the year of death. It is reported on the receivers taxes or the estate.

[vasudha_khanna2]

I am filing for the first time on an F1 visa and i am confused whether i have to put in my foreign bank account as well 

[Erismith88]

Something I wish I had known when I very first filed taxes that not always the more you pay in is the more you get back.

[Jakeqwertyuiop]

I wish knew everything about filing as a first-time LLC business enity.

[GMin22]

I wish I had known about the 1041 forms for trusts.  I still do not know much because it is so vague.  Does the 1041 get filed along with the 1040?  Is the trust TIN used in place of the SSN?

[Jonsson90]

You winer??😅

[Taxcitizen]

I wish I had known this for the first several years I was filing taxes: Having the government withhold more taxes is not a smart way to save over the year because you could be doing more with that money invested during that time.

[cliffsook1987]

Well hello there, I think basically when somone is filing a tax especially for personal purposes whether it be for a single or married couple. Some or the most key things and the total federal taxes, total state taxes and the total over all tips and wages along with your independent or school or home expenses. Most of all the jest and key point here, is that when my tax was calculated if you guys look at it the stimilus that was given for $1,400.00 was taken back by the government and I think that is one of the most astonishing thing I have seen under the Bidden administration. Stimilus in these trying times should not be taken back from tax payers under any circumstances. 

[sk_ofearna]

I wish I'd known how easy it would be to use turbo tax... I've been using it sice 1998!

[nkeith3]

How much I could save using Turbo tax and having access to tax experts that are very knowledgeable and help you with getting the deductions you should get . 

[SamanthaRay]

Honestly what I wish I knew was all the different things that you actually get taxed on the most and how to enter each W2 document with step by step instructions.

[Barf on Taxes]

How to get your W-2 from "A" company who uses another payroll company to digitally issue their W-2s and pay on "credit card". Company told me I had to call payroll company.  Payroll company told me I had to reactivate my account [which I had cancelled because payroll company wanted to charge me a monthly fee for non-usage of my account even though I wasn't working for "A" company].   Called back "A" company and said this is crap.   In the meantime, I called IRS.  IRS send letter to "A" company.   I called back "A" company and told them to expect a letter from IRS.  Person had to check with their supervisor to see what they could do.  Next day Payroll company called me and told me how to get my W-2.   Wasted an entire day in phone calls but did not have to pay a fee. and was able to get W-2 immediately.  

[158]

When I filed my taxes for the first time last year, I wish I knew that I could have had a live tax expert to help me!

[djtroxell]

With TurboTax, there is an easy interface and process to start next year's taxes where I ended the previous year.  The software also remembers my pin to help me eFile with the federal government.

[Toshammmm]

I wish I had known how EASY☺️☺️ it is to do my taxes myself on TurboTax! 🤗I am so disappointed that before I knew about TurboTax how much money I could of saved by not having to pay to have my taxes done for me by places like HnR block and so on. TurboTax made me confident in myself that yes, I am smart enough to do this without anyone's help because they help every step of the way!! I love that they have an option to explain in more detail on questions you don't understand and just the little things like that that makes a BIG DIFFERENCE. 👍 It's easy, quick, and free. Thanks TurboTax for helping me be more independent. I also wish I knew about all the great benefits of filing online through TurboTax like my CK money  spend card.  I absolutely love my Credit Karma account which I would of never knew about if it wasn't for TurboTax intuit. It also has been a HUGE BLESSING that has helped me with so many things that deals with life essentials we need like auto insurance,building credit, buying a car,and much more. I'll continue to use them for the rest of my tax filing years ahead. Lol 

[jessnsophia]

I wish I would have known that I could do my own taxes. I didn’t know about turbo tax or how to file as self employed. I wish I would have know the definitions and requirements  of each status too. I didn’t know anything and I wish I would’ve known to ask someone knowledgeable to explain it to me then but life is for learning after all. 

[loyal2me1989]

The 1st time I filed taxes with Turbo Tax I wish I would have known that I could get a refund increase even if I had more than 2 dependents. For years Fast Tax and Jackson Hewitt told me that and I opted to allow my kids father to claim the other 2 kids. I thank God often for bringing me to Turbo Tax and allowing me to see for myself that, if you read to understand then you can do any and everything. When you can read an write then no human could harm nor humiliate you.  Knowledge is the key to Success.

[Avrilprezley]

I wish I would have known that I would have never been audited from 2012 for past tax obligation only because my daughters dad claimed her the same time when I got school records and etc to prove that and the irs now says it's to late to send in the proof for second time and I'm responsible for paying th14000 dollars and I only got 5000 in 2012 so now that times are very hard on every one I got my child tax credit taken away from me and they will not except no exception says the lady I talked to from irs and not to mention how she was rude to me and hung up in my face

[Sugabay90]

I wish I knew how to understand some of the credit and deductions a little better. It really was confusing but I'm now on my 5 year with turbo tax and I've been doing very well and I am very happy customer

[Poyeewole21]

I wish I had first hand information on gifts and charity record keeping for tax filing purpose. I did most of my charity with cash and no proper records.

[djpev94]

I wish I would have known whether or not I would have to amend my return sooner rather than later...

[6teepsmom]

I wish my job had informed me that they mistakenly gave employees W2s with the wrong EIN # (box b) the day before I filed my taxes!  

😥😳😭. I need the money (my tax return money) cause we are homeless!

Thank you. 🍀🍀

[6teepsmom]

I wish my job had informed me that they made a mistake on W2s by putting the wrong EIN # (box b) before I did my taxes with Turbo Tax! 🥺😥😳😭🍀🍀

[MrsMoore]

I wish i would have known i could efile instead of doing mine by paper. omg it was horrid

[SPACEXMIKE]

I wish I would have known about this the first time I tried to file my taxes. Well, guess it's a good thing I didn't finalize it this year!

[JohnnyDeep]

🍀I wish I had known all about the different tax deductions. I didnt know diddly squat about taxes. It was very shameful. I am still learning the different lingo of the whole tax gimmick. 

Johnny Deep😎

[rdginto]

Back then we had EZ and short forms but then got to itemize.  I wish I would have known about all the little things that are allowable to itemize, and kept track throughout the year and not trying to recreate at tax season.  By keeping records as you go, you can bring down your monthly totals.  For instance right now I keep track of gas (keeping all receipts) as we have been able to take a credit if over a certain amount.  Not much but it could be an extra $20 coming back.  I've gotten used to now keeping that as well as medical costs in the unlikely event we have a major catastrophe and are able to itemize our medicals (had this happen in tax year 2015).  Much better return than taking the standard.

[Sadiebabbyy21]

It’s so fast easy & I love it. And it doesn’t charge you… & the questions are so easy. 

[StebbinsJ]

I wish I had known how much money I could get back just by filing deductions.

[ual777cap]

A long time ago I wish I had known there would be personal computers and Turbo Tax because, even with an accounting degree it was very hard to do your own stocks.   I would have bought Intuit stock.

[HazelbugsMom18]

I wish that I would have listened to all of my friends and Family when they told me that I should not do my taxes on my own. Especially considering its my very first time and I dont know one single thing about them. I am a beginner. They told me If o chose to do it Online I should pay whatever I had to pay, so that I could choose a Good Tax Company and have the Option to have a tax expert assist me through the process. Each and every step of the way.  And all the other resources that would come with what I was paying for,  ( I was being stubborn, trying to find the cheapest way out!) I know that a few Tax Company's allow you to have an option online when your filing yourself, they will go over it. review your return thoroughly and make sure you have made no mistakes. WELL, I didn't choose to pay out a couple hundred to have it professionally done in office or heck, I didnt even choose to pay $86 bucks to have a Tax Expert assist me through the steps while filing online, or for an Expert to check over my return to make sure I didnt miss anything or make any mistakes. I chose to pay $25, and it would be taken out my Refund Amount. At first, I thought everything went fine. but a couple days passed by and i decided to look over what all I put down. and boy oh boy. I messed up several things, now not even sure if l get a r

• refund. Somehow I put ZERO for my Income Earned. That was a huge mistake.... And a couple more errors. I just wanted to hurry and get it done and filed so I can get my Return Money. Hahahha. Well, the jokes on me. I wish I would have took my time when filing and had someone that knew more about taxes help me. and go over it for me.... But I REALLY wish I would have sucked it up and paid out whatever needed to be paid to have a Tax Expert do my Taxes for me. That was my biggest mistake. Ill never do it on my own again. But this was my first time ever filing taxes. So, I learned a good lesson. and it may have cost me a good amount. and the site I filed with, it has no resources. nothing. no updates. no customer service to communicate with over email or chat. just phone and cant get anyone to pick up. A good E-filing tax service would have noticed my errors and corrected them. But nope, not this one. So Ill never use them again. I wish I knew all this before choosing to go with them and filing myself online. I wouldnt have. I will for SURE be using TurboTax from now on. Ive recently read nothing but GREAT reviews. Cant wait to file next time with Turbo tax. But like I said before I am new to taxes and you have to make mistakes sometimes to learn a valuable lesson. PAY whatever you have to pay, as long as you have a Tax Expert helping you, You CANT go wrong. 

[durhamda65]

The first time I filed taxes I wish I had know the right way to fill out my W- 4 form so that I had enough taxes taken out of my check to cover my tax liability and would still get a refund. 

[gitrdunferchrist]

Been using Turbo Tax for years now, it walks you through everything, really nice!