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Yes, the new additional deduction for taxpayers age 65 and over will be available for the 2026 tax year as well. With the passage of the One Big Beautiful Bill, seniors now have the Senior Deduction for tax years 2025 through 2028 that can reduce their taxable income by $6,000 each (a total of $12,000 for joint filers) if they meet certain requirements. See also this article for more tax tips for seniors.   You can use TurboTax's free tax estimator tools in planning for your tax year 2026 return.  

For the 2025 tax year (filing in 2026), Form 8962 uses the 2024 Federal Poverty Level (FPL) guidelines to determine eligibility and reconcile the Premium Tax Credit (PTC) . This is standard IRS procedure, as the previous year's guidelines are used to calculate the subsidy for the coverage year. 

Thank a lot, but I can not get rid of R-2 how can I skip it on software, I have some errors for R-2 ? If I use Form 502-A in 2025 for Virginia, and in 2026 all of my income is Virginia-source income, do I need to file any special form related to the fact that Form 502-A was filed in 2025, or do I need to complete a different form for 2026?   I do accounting may I have your help how do I fill out section A and B on 502-A? If I choose the single-factor computation, which part of Section A applies to my business? 

Line 15 of Schedule C is only for insurance premiums that your company paid for non-owner employees.   Your self-employed health insurance deduction is automatically generated when you have net earnings from self-employment and when entering the Form 1095-A you mark the box to indicate that you were self-employed.  The separate dental-plan insurance payments would be entered separately as Self-Employed Health Insurance Premiums under All other expenses under Business Expenses.

Yes, if you satisfy all the requirements for the deduction.   The OBBBA has introduced a new deduction for car loan interest paid for new cars you bought for personal use between 2025 and 2028.   The deduction is up to $10,000 if your income is under $100,000 (or $200,000 if MFJ). The deduction is gradually phased for higher incomes.   For the requirements of this deduction, please read this TurboTax Help article.   In TurboTax Online, you can enter your car loan deduction by following these steps: Open your tax return Click on Federal in the left-hand column, then on Deductions & Credits Navigate to the list of Deductions and Credits Click on Other Deductible expenses Locate the section Cars and Other Things You Own and click on the arrow on the right Click Start next to Car Loan Interest  Follow the TurboTax questionnaire to enter your car loan interest The deduction will transfer to Schedule 1-A of your form 1040.

Financial support is not enough. Living in another city for education purposes, counts as living with you. Otherwise, it doesn't. The IRS has a quick quiz, Dependent, to determine if you should claim your daughter. I went through it answering no to full time student and yes to earning more than $5200 along with other questions. My answers said not to claim but I didn't know all the correct answers so you should go through Dependent and answer the questions to get the correct answer for your situation. Once you know the correct answer, both returns can be done. If you can't claim her, then her return qualifies for the larger numbers and she will not be part of your return.

I'm writing this on 1/27/26. I've received two email messages stating that this section is now available but my software is fully updated and I still have the message "available soon" for this section. When will this section be available?