All Posts

In order to qualify for this car loan interest deduction, your vehicle must meet all of these requirements:   You purchased it in 2025.  It is not leased. It’s a brand new vehicle, not used. Its final assembly was in the U.S.  You are asked to check this requirement by entering your VIN and model year into the VIN decoder provided by the National Highway Traffic Safety Administration. It's a car, van, SUV, motorcycle, or pickup truck that weighs less than 14,000 pounds. It was purchased for personal use. The interest was not paid to a family member or a business you own.  Your loan must be secured by the vehicle. If you meet all of these requirements, you should go back through the vehicle loan interest section of your TurboTax program and make sure you have answered all of the questions properly.   The vehicle loan interest section is found under "Deductions & Credits" in the TurboTax program.   For additional information regarding the vehicle loan interest deduction, please click here for What is the vehicle loan interest deduction?   Click here for Treasury, IRS ‌guidance on the new deduction for car loan interest under the One, Big, Beautiful Bill. Click here for Video: One Big Beautiful Bill: New Car Loan Interest Deduction (Part 4).   If you have additional information or questions regarding this, please return to Community and we would be glad to help.  

The IRS will officially begin accepting and processing 2025 tax returns on Monday, January 26, 2026. They do some testing prior to that time so if you get an acceptance from the IRS it means your return was part of the testing, but the Refund Advance does not acknowledge any acceptance until the IRS officially opens.  

At this point, it is too late to claim any of the stimulus payments from the past.  The deadline to claim the stimulus payments was April 15th, 2025. If the IRS did not have banking information for you, you can check with them to see if they sent you a check that you for some reason didn't cash or receive.  

Are you not seeing it as an option? The Refund Advance is not available to everyone.    Here are a couple things to check: If you are using a TurboTax partner affiliate link to use the software, the Refund Advance will not be available. If you select the 5 Day Early Refund Delivery, you will not see the Refund Advance option, but you can return to the refund selection page and find all the options listed. See this resource for more information:  Offer details and disclosures for the Refund Advance  program   Refund Advance Eligibility Here are some of the eligibility requirements to qualify for a Refund Advance loan: You’re 18 or older Your expected federal refund amount is $500 or more You’re not a resident of North Carolina, Connecticut, or Illinois You’re e-filing your federal tax return with TurboTax Your physical address is listed on your tax return. Your address must be located in one of the eligible states and can’t be a PO box or prison address You’re not filing one of these tax forms: 1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862 You aren’t filing on behalf of a deceased taxpayer You must report income on a Form W-2, 1099-R, or Sched C You must open or have an existing Credit Karma Money™ checking account

To update this, you have to bypass the standard login screen. Check if you have a backup verification method enabled.   On the screen asking for the code, select the small blue link that says Try something else. If you see an option for Email, select it. You can receive the code via your verified email address. Once logged in, go immediately to Intuit Account > Sign in & Security and update your Phone section with the new number. If that doesn't work you will have to do a manual review by the Intuit security team to verify your identity.   Go to this link, Intuit Account Recovery Request. You will need a high-quality photo of your Driver’s License, State ID, or Passport. You will select that you are updating your Phone Number.

You are referring to the new Enhanced Senior Deduction.     The maximum deduction is $6,000 for each person 65. There is a phaseout of the deduction once your income (MAGI) exceeds $75,000 for single or $150,000 for married filing jointly (MFJ). On a joint return the phaseout is calculated separately for each person.   The deduction is automatically calculated by TurboTax if you qualify. The calculation will appear on Schedule 1-A page 2, Part V Enhanced Deduction for Seniors, which is then carried to your Form 1040 line 13b.    This is a deduction, not a credit.

Claiming disability on a parent will have no affect on you being able to claim them as a dependent on your tax return.   To be a Qualifying Relative - 1. The person cannot be your qualifying child or the qualifying child of any other taxpayer. A child is not the qualifying child of any other taxpayer if the child's parent (or any other person for whom the child is defined as a qualifying child) is not required to file an income tax return or files an income tax return only to get a refund on income tax withheld. 2. The person either (a) must be related to you or (b) must live with you all year as a member of your household. 3. The person's gross income for the year must be less than $5,200 (social security does not count) in 2025 4. You must provide more than half of the person's total support for the year. 5. The person must be a U.S. citizen or a U.S., Canada, or Mexico resident for some part of the year. 6. The person must not file a joint return with their spouse with the following exception - You can claim a person as a dependent who files a joint return if that person and that person’s spouse file the joint return only to claim a refund of income tax withheld or estimated tax paid.  

Yes, you may use funds from your HSA to pay for your dental insurance premiums as a medical expense since the premiums are paid for health care continuation coverage (such as coverage under COBRA).   Please see IRS Pub. 969 - Health Savings Accounts and Other Tax-Favored Health Plans for additional information (pg. 9)