Other financial discussions

Join TurboTax Community: Your Tax & Finance Guide for Credit Karma Members!

As you may know, getting your free credit scores through Credit Karma is just one part of your financial journey. Although understanding your credit score is crucial for making important decisions, it’s just one part of the puzzle in managing your fi... read more

Getting Over Bad Money Decisions

Last week, on the Turbo blog, we talked about ways to forgive yourself and move on from past financial mistakes. CFSW, Marsha Barnes, shared five key ways to move on and get better with your money: 1. Recognize previous spending behaviors and forgive... read more

Why $70 for TurboTax desktop 2024 from Intuit when $55 on Amazon.

Talking Desktop Deluxe here and not trying to give Intuit a hard time, well not too hard of a time, but why the price disparity between Intuit's $70 charge and the same product from Amazon for $55 - as it seems both are available early as opposed to ... read more

Accidentally paid for US package, needa Canadian turbotax package

Hi,I accidentally bought a turbotax package for the US. Is there a way to exchange it or get a refund?! I need a Canadian Turbotax package!

How likely am I to be audited if the Bank files a form 8300 for a large cash deposit?

My mother is on hospice watch and I'm preparing to deal with estate / will / property issues. I believe she has a large sum of money exceeding $10K in her safe. I know of FinCEN / IRS form 8300 requirements if there is a large cash deposit of $10K or... read more

2024 on mac

So if I can’t put Ventura on my Mac and I have old returns there and I do t want to do the TurboTax cloud version is my only option to buy a new computer?

Need in-depth tax help. Need to go over several years. Is this something that your company offers?

Using Carryover losses from prior

Let’s say I have $10,000 carryover losses from prior year. Filing jointly.1) Scenario 1(A) This year, I have $7,000 gain, that mean I can use $7,000 carryover to offset all the gain, leaving $3,000 left carryover, CORRECT?(B) Can I ALSO use the last ... read more

Converted Primary residence 1985

Primary residence purchased in 1985, converted to rental in 1990. Converted back to Primary residence in 2024. Need help finding rules impacting sale in the future.I remember reading something previously that homes owned prior to a certain date were ... read more

2024 desktop possible error in forms

i have installed 2024 Turbo tax Deluxe. upon reviewing I believe I found an error in 2024 Capital Loss carryover Worksheet. Line 1 and Line 9 has different numbers from the 2023 Capital Loss Carryforward Worksheet. Who do I contact? Does the tech peo... read more

Questions about gift tax and capital gains

My sister did a quitclaim deed to transfer her house to our three children, with a life estate option. Are there gift tax implications? She subsequently passed away while living in the house, and the house was sold. What kind of capital gains from th... read more

New tax bracket

I recently got a raise at work. It has put me into 60,000 + a year. How will this affect the taxes I will owe this year? I'm sure it has put me in a tax bracket I have never been in before. Just trying to understand possibly how much it is going to c... read more

Donation to charity & Tax Saving

I don't see the math that Donation to charity & Tax Saving is good for anyone - money wise. Why would I donate, say, $50, 000 consider if I have to pay 24% tax , that would leave me with $38,000 more in my pocket. With 32% tax , I would have $34, 000... read more

Double inherited IRA

My father passed in 2015. My mom did not do a spousal assumption on the IRA or a rolloverto her own IRA. Mom passed 2024. Each of us kids have inherited a portion if this IRA. Do we have 5 years or 10 years to withdrawal since rules changed in 2019? ... read more

6% fee - Roth IRA

Hi. I left my job in May of 2021. Since then I've had no earned income. I accidentally made contributions to my Roth IRA on April 3, 2024 that went towards the tax year 2023. Does Turbotax automatically charge me the 6% annual fee for having the mone... read more