Raph
Community Manager
7 109 34612

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.
Comments
New Member

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.

Returning Member

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. 

New Member

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

New Member

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. 

Level 1

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

Level 1

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 

Returning Member

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. 

New Member

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

New Member

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

New Member

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.

New Member

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

New Member

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

New Member

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

New Member

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

Returning Member

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

Returning Member

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!

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.) 
New Member

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.

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 

New Member

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.

New Member

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

Level 1

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?

Returning Member

You winer??😅

New Member

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.

Returning Member

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. 

Level 1

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

New Member

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 . 

Returning Member

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.

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.  

Returning Member

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!

New Member

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.

New Member

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 

Level 1

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. 

Returning Member

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.

Returning Member

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

Level 1

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

New Member

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.

New Member

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

New Member

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. 🍀🍀

New Member

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! 🥺😥😳😭🍀🍀

New Member

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

Returning Member

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!

New Member

🍀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😎

Returning Member

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.

New Member

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

New Member

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

Level 1

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.

New Member

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. 
New Member

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. 

New Member

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

New Member

I wish I knew how to better allocate my estimated taxes for investors who don't always have the same amount of stock sales each year.  Having recently spoken to a TurboTax Expert, I now know that I can use the "Annualizing my Tax" feature to better allocate my estimated taxes.

Returning Member

i wish I would have known how easy it is to use turbo tax software! It would have made everything so much easier with your easy to follow guides and 24 hr live support I would have been so much better than using my "other" tax service we wont name any names but i will from now on always use turbo tax software!

Level 2

One thing that I wish I had known before filing my taxes for 2021 was that I should have rolled over the small 401k disbursement from my previous employer into another plan.  It wasn't until I received my 1099R form and applied it to my tax profile that I got hit with taxes and an early withdrawal for not rolling it over.  I am assuming that there is nothing I can do to reverse this.  It just sucks because it was just $70.

New Member

I wish I had known all of the different deductibles that you should be keeping track of throughout the year. 

Level 1

Does anyone know if tTurbotax is installed on a separate computer (the program allows 5),  do they each get a separate account?  I want my kids to use the program and I don't want to have to help them with their taxes.

New Member

I have been using turbotax for over 20 years.  This is the first year I used the online version.  Very impressed will use that program in future year taxes.

Level 1

The main thing that I wish I knew the first time I started filing taxes was that if you work in more than 1 state during the year both states will require you to file a state tax return and take their share of your money.  I was pretty much living paycheck to paycheck while going to school and didn't know I would be hit with a double tax bill at the end of it all.  Live and learn.

Returning Member

Exactly what forms your employer supposed to give you to file your yearly taxes along with explanation from certified cpa what exactly why employer was holding back $204.00 week for taxes when your checks were set amount of $550 weekly that sure seeme to be that employer is committing tax payer theft of his employee every week for 31 years alot money if added up. Leaving a man to support his family on $346.00 after taxes took out weakly. 

New Member

I have heard of TurboTax for many of years but I have never thought about using them now that I have will not go back to any H&R Block or any other tax refund in place I wish I would’ve known everything honestly lol this is my second year filing tax Completely blew H&R Block out the water I now get all my family and friends going to turboTax thanks!!!!!!!!

Returning Member

Man I learned so much about taxes I ain't know anything and I'm 23 @Raph 

@Lordjr64 @DebbiM @RedKitty2 

Level 1

I wish I had know how to be organized all year long with receipts and files so that taxes was easier at the end of the year.  
and also wish I knew all the ways to save on taxes!!

Returning Member

I wish I known all the extra tax deductables I could file with my taxes, like child care and health care. I also wish I would have known how cheap it is to go with TurboTax. Going to a other company Cost me hundreds of dollars and TurboTax is so reasonable priced plus you can pay a little extra to get the audit protection. Man oh man do I wish I would have known that the first time i did my taxes.. I use it everytime now.. 

New Member

Ah the first time taxes is extremely unnerving but TURBOTAx does it right. They basic format it so you just enter your details and its VOILa like really,  that's it, just keep all your paperwork together for next year etc. 

New Member

I wish I had known I could file electronically for free.

New Member

I wish that I had known how simple this process really was. I’m 22 years old, taxes always intimidated me but turbo tax really does make everything so much easier to understand!

New Member

that turbotax is the easiest way to file.

Level 1

I wish I would have hired someone (at a good price and necessary qualifications) or used one of TurboTaxes Experts! 

New Member

I wish I know earlier that there is a free version of Turbotax!

New Member

Es bueno pruebenlos 👀

New Member

I wish I would have known how to properly fill out my w-4 and how to correctly itemize my deductions correctly so that I could have benefited the most when it came to filing my taxes, but now with Turbo tax I have peace of mind and I am a lot more confident!

New Member

What I wish I knew about taxes when I first filed... more about college deductions/credits, taking advantage of 529 plans, AOTC, etc. 

Returning Member

Wished I had known that you need to pay taxes on dividends you earned on taxable investments

Level 2

I wish TurboTax was available when I started doing taxes. I found out about areas for deductions and credits that I didn't even know existed just by following the step-by-step instructions of TurboTax.

New Member

I wish I knew how easy and quick it was filing with turbo 

Returning Member

I wish I knew more how the financial institutions worked in processing the return and then the refund monies and then where the refund monies would go. I wish we had a choice of where the refund money to go if we didn't have a bank who then the current product credit karma which is proven nothing to be but a fraudster and I can't get a hold of nobody in person over TurboTax or credit karma to fix it

New Member

I wish I had done the tax myself instead of using my parents' cheap tax professional. I didn't make sure at the time, basically low income and I could of add rent as a deduction. These cheap tax professional don't sit down with you to find possible deductions. They just take your W-2 and any documents you give them, and that's it. there's no discussion.

Returning Member

I wish I knew you could add gas expenses for work, and claim all educational expenses. How Turbo Tax is fast and easy to use to file jointly!

New Member

I wish I had know that college textbooks were a deductible education expense

Level 3

I wish I had known how easy using Turbotax is! 

New Member

I wish I would have known about the Fidelity discount before filing my prior years taxes. It's always great to save $ $. TurboTax always saves me money, by finding the most deductions. Thank you TurboTax. It's the best!

Returning Member

How much money that I could make without going into a expensive tax bracket..

Returning Member

Good 

New Member

I wish I knew to keep track of the many deductibles I have as well as receipts for everything.

New Member

I wish I knew my tax payer I'd number it want let me e-file without it

Level 1

To anyone who is worried about there refund like I have been by getting the (we are sorry but your refund is delayed beyond normal time frame ) I can shine a lil light on ya situation now finally !! I have a refund date set to hit my bank account on the 16th of March hope this eases some of ya'llz worries a lil bit ...also I wish I had known how freaking easy it was to file my taxes myself through turbo tax !! Thank you turbo tax for being there through it all I really appreciate it more than. You know sincerely yours Robert Miller

Level 1

I wish I would of known to keep all my records together before filing, having to stop and go look for something got frustrating. Thanks to TT, you all make it easy

Brianna Miller

New Member

First off this was my first year using Turbo Tax and I wish that I would have been using Turbo Tax all along opposed to spending $700 to file my return with services like H&R block and Liberty Tax. The whole process was pretty easy But aside from that I wish that I would have known more about the process of filing taxes as a whole. For whatever reason it wasn't taught in school and it really should have been because I started filing at 16 with my husband and neither one of us knew anything about anything. 

New Member

I wish I had known about saving all of my receipts through the year, as many of them would have been deductions on my tax return!!!

New Member

I wish I had known to not let my parents claim me as a dependent when I began working while still In highschool and providing for myself! Whoops!

New Member

I wish I would have known how to get a advance refund and knew how to talk to a representative and see how much I would have got back for my taxes and paid all that money for the assistance and thought I was gonna get more on my refund but the state had took most of my money but I know next year what to do but I already paid for the whole year so might as well use it **bleep** I wish I would have known at first but I made a mistake for this is my first time filing taxes but I'll know the 2nd go round believe that imma do my research promise you that

New Member

I wish I had known some "simple" things like:

1) I would need to have my bank account details handy for requesting direct deposit;
2) I would need my (and my husband's) driver's license near by (first time my husband wasn't home when I was ready to file)

3) Last years tax returns for referencing.

 

🙂

@Raph 

 

New Member

I wish I had known that making small charitable donations will not do anything for my tax refunds when I am donating such a small amount.

I was getting rejected when I e-filed my Fed return with IND-031-04.  Saying I had an error in my pin or my (turbotax provided) AGI.  This was my first e-file so the pin was "new" not from and previous year.  Even though I checked the "Joint" return option turbotax would still have me enter my AGI and then my spouses AGI which seems strange.  Thinking my 2020 return was adjusted somehow I went online to the IRS and found my 2020 return (filled in Oct 2021) was still in process, so wouldn't be available to match.  The solution was to enter ZERO on both the AGI query boxes, and now I've been accepted.

New Member

I wish I knew I can deduct tax preparation.

Level 1

That you shouldn't loan the government your money all year interest free. A refund is nice but breaking pretty close to even is ideal.

Returning Member

I filed my taxes for absolutely no money at all!!! Thank you so much!! 💓 

Returning Member

I wish I had known how easy it was to file with turbo tax

Returning Member

I tried to download TT2021 onto a laptop where I have downloaded previous years.  I'm having a problem with space and needs to be cleared out.  SO I thought I could put it on another laptop, which is not allowing me to.  What can I do?

Returning Member

Wish I had known all about the donations part and the sales tax.... 

Returning Member

I wish I knew how to do the taxes myself using a program as easy as TurboTax! the first time for me was sitting down with My sister in law doing it all by paper  😮💨

Level 1

I hope everyone gets there tax's without issues I've worried myself sick but i have a approved and message from where's my refund tool that says my refund is scheduled to be added to my bank account by March 16th  well today is the 15th still no refund in my account!!

Level 1

I wish I had known how easy it was to use Turbo Tax when I first started filing my taxes after returning from spending 12 years stationed in Europe back in 1986.  I still don't consider myself a pro now after more than 30 years of using Turbo Tax, but it sure does make it easier to file with confidence.

New Member

Wish I've known about this the first time 

New Member

I wish I knew the benefits of upgrading to the Deluxe membership sooner! All these years of using TurboTax and I probably wasn’t getting my maximum refund because I didn’t have the support I needed that is offered with the Deluxe membership. You live and you learn!

Level 2

i wish i had known that I could file an extension!

New Member

I wish I’d known how easy turbo tax makes things. The first year I had to file I worked in three states, two of which had state tax as well as of course federal tax. Needless to say, I was overwhelmed and nervous about the whole thing. I was only 19 at the time and had heard my whole life what a pain filing taxes was. By the time it was over, I realized I thoroughly enjoyed filing taxes. I look forward to it each year. (I know, call me weird). Last year I was within the first 100 ppl to file. 
Also, it took me a while to figure this one out🙄, when tax info comes in the mail, keep it all in one place. It’s so much easier to find it that way!

New Member

My financial goals for this year are for my family to be able to get a safe place and be together again.  I Wish i would have known to safeguard my information.  The internet is something many people dot know about an dit is really nt the safest place to do much of anything.  I continue to get false IRS documents and i cannot get my identity issues under control.*

 

 

 

*-This content is the sole property of Scott Bailey.  Permission is granted to Turbotax.com to use for viewing on their website ONLY.  No third party shall be permitted to use, distribute, change, save, or use in any other way without explicit written consent from the owner Scott Bailey.  This does not give turbotax or any of its affiliates the right to alter or change this agreement and illegally binding as of today March 16, 2022.

New Member

Wished I new how to process WHFIT  1099B info, income ans expense!

 

Walt Schneider 

[phone number removed]

New Member

I wish I had paid closer attention to the news, and changes in tax laws from year to year!