ErnieS0
Expert Alumni

Deductions & credits

TurboTax does have tools to help you forecast. You don't say whether you are using TurboTax Online or CD/Download.

 

You can estimate your tax liability in both products.

 

Here's what to do:

 

  1. Type w-4 in Search (magnifying glass) in the top right corner
  2. Select Jump to w-4
  3. On "Adjust How Much Tax You Pay" say NO
  4. On "Review Your Estimates?" say Review Now
  5. On "Enter 2023 Itemized Deductions" add your estimates

 

CD/Download also has a What-If fundction.

 

  1. Type Forms in the top right corner
  2. Tap Open Form at the top of the left column
  3. Type what-if in Search and select the What-if Worksheet, then tap Open Form
  4. At the bottom you will see Itemized Deduction Summary where you can enter up to three different scenarios
  5. Tap Step-by-Step in the top right where Forms used to be when you are done to return to the interview mode

@camatt

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