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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:
- Type w-4 in Search (magnifying glass) in the top right corner
- Select Jump to w-4
- On "Adjust How Much Tax You Pay" say NO
- On "Review Your Estimates?" say Review Now
- On "Enter 2023 Itemized Deductions" add your estimates
CD/Download also has a What-If fundction.
- Type Forms in the top right corner
- Tap Open Form at the top of the left column
- Type what-if in Search and select the What-if Worksheet, then tap Open Form
- At the bottom you will see Itemized Deduction Summary where you can enter up to three different scenarios
- Tap Step-by-Step in the top right where Forms used to be when you are done to return to the interview mode
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‎April 6, 2023
5:29 AM