https://ttlc.intuit.com/community/tax-credits-deductions/help/02/109 Tax credits and deductions topics Mon, 14 Sep 2020 06:17:04 GMT 109 2020-09-14T06:17:04Z https://ttlc.intuit.com/community/tax-credits-deductions/help/qu%C3%A9-es-una-exenci%C3%B3n-personal/01/837763#M242 Una exención personal era un monto establecido que podías deducir por cada contribuyente y dependiente en tu declaración de impuestos de 2017 o de años anteriores. El importe de la exención en el año tributario 2017 era de $4,050 por persona, sujeto a una eliminación gradual para niveles altos de ingresos. La exención personal fue eliminada por la Ley de Empleos y Reducción de Impuestos (TCJA, por sus siglas en inglés). Para ayudar a compensar la pérdida de la exención, la TCJA aumentó el importe de la deducción estándar, duplicó el crédito tributario por hijos y creó un nuevo crédito de $500 por otros dependientes (también conocido como “crédito tributario familiar”). Related Information: ¿Qué deducciones de impuestos federales fueron suspendidas por la reforma tributaria? Wed, 26 Feb 2020 01:00:22 GMT https://ttlc.intuit.com/community/tax-credits-deductions/help/qu%C3%A9-es-una-exenci%C3%B3n-personal/01/837763#M242 TurboTax Help 2020-02-26T01:00:22Z https://ttlc.intuit.com/community/tax-credits-deductions/help/puedo-deducir-impuestos-sobre-la-propiedad-bienes-ra%C3%ADces/01/837761#M241 Los impuestos sobre bienes raíces (también denominados “impuestos sobre la propiedad”) que se gravan sobre tu vivienda principal, vivienda vacacional o terreno se pueden deducir si se basan en la valuación fiscal y si tu propiedad es de uso personal. El que obtengas o no una deducción sobre tus impuestos es otra cuestión, dado que hay varios cambios vigentes a partir de la reforma tributaria que han afectado esta deducción. Primero, no podrás deducir los impuestos sobre tu propiedad si tomas la deducción estándar. Aun si detallas tus deducciones, la deducción SALT (impuestos estatales y locales sobre los ingresos), que incluye el impuesto sobre la propiedad, ahora tiene un tope de $10,000 ($5,000 para parejas que presentan su declaración separadamente). Esto significa que es posible que los contribuyentes que viven o son dueños de una propiedad en estados con impuestos altos sobre la propiedad no obtengan una gran deducción como lo hicieron en años anteriores. Dicho esto, igualmente deberías cargar tus impuestos sobre la propiedad en&nbsp;TurboTax. Calcularemos qué cantidad, si hay alguna, es deducible. Asegúrate de incluir los impuestos sobre la propiedad pagados al cierre así como el impuesto anual sobre la propiedad pagado a tu tasador. No incluyas lo siguiente: Impuestos que pa... Tue, 16 Jun 2020 18:34:58 GMT https://ttlc.intuit.com/community/tax-credits-deductions/help/puedo-deducir-impuestos-sobre-la-propiedad-bienes-ra%C3%ADces/01/837761#M241 TurboTax Help 2020-06-16T18:34:58Z https://ttlc.intuit.com/community/tax-credits-and-deductions/help/puedo-deducir-el-seguro-hipotecario-privado-pmi-o-mip/01/277390#M240 Sí, siempre y cuando detalles tus deducciones y el contrato de seguro se haya emitido después de 2006. Una vez que tu Ingreso Bruto Ajustado (AGI, por sus siglas en inglés) supera los $100,000 ($50,000 para casados declarando por separado), la deducción se reduce. Si tu AGI supera los $109,000 ($54,500 si eres casado declarando por separado), la deducción del PMI/MIP se elimina por completo. Related Information: ¿Aún puedo detallar mis deducciones? ¿Puedo deducir mi seguro de propietario? Wed, 26 Aug 2020 23:45:18 GMT https://ttlc.intuit.com/community/tax-credits-and-deductions/help/puedo-deducir-el-seguro-hipotecario-privado-pmi-o-mip/01/277390#M240 TurboTax Help 2020-08-26T23:45:18Z https://ttlc.intuit.com/community/health-care/help/can-i-deduct-medical-mileage-and-travel/01/26243#M239 Yes, you can deduct costs associated with using your car or public transportation for medical visits and even to pick up prescriptions. For car expenses, you can use either the standard mileage rate (TurboTax figures it for you) or actual expenses, such as gas. You can add actual out-of-pocket expenses, such as parking fees and tolls, whether you use the standard mileage rate or actual expenses method. Be sure to keep records of each trip, including the date, the mileage driven, who you saw, and the purpose. Keep receipts for each expense. For more information, see Where do I enter my medical expenses? Related Information: Where do I enter my medical expenses? Can I deduct mileage? What kinds of medical expenses are deductible? Can I deduct health insurance premiums taken from my paycheck? Can I deduct Medicare premiums? Mon, 07 Sep 2020 12:51:12 GMT https://ttlc.intuit.com/community/health-care/help/can-i-deduct-medical-mileage-and-travel/01/26243#M239 TurboTax Help 2020-09-07T12:51:12Z https://ttlc.intuit.com/community/credits-and-deductions/help/do-teacher-union-dues-qualify-for-the-educator-expense-deduction/01/25735#M238 No; only unreimbursed expenses for books, supplies, and equipment that you purchased for classroom use qualify for the $250 Educator Expense deduction. More info Employee union dues are no longer deductible in tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act. Prior to the Act, they were partially deductible as a miscellaneous deduction under the 2% rule. Thu, 27 Aug 2020 01:21:42 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/do-teacher-union-dues-qualify-for-the-educator-expense-deduction/01/25735#M238 TurboTax Help 2020-08-27T01:21:42Z https://ttlc.intuit.com/community/credits-and-deductions/help/is-my-car-registration-fee-deductible/01/27212#M237 Yes, if it’s a yearly fee based on the value of your vehicle and you itemize your deductions. You can’t deduct the total amount you paid, only the portion of the fee that’s based on your vehicle’s value. And, not all states have value-based registration fees. The states that do are list below along with the deductible portion of your registration fee. States with deductible car registration fees and which portion you're allowed to claim &nbsp;Alabama &nbsp;The Ad Valorem Tax you paid on your vehicles &nbsp;Arizona &nbsp;The Vehicle License Tax (VLT) you paid on your vehicles &nbsp;California &nbsp;The Vehicle License Fee (VLF) portion of your registration fee &nbsp;Colorado &nbsp;The Ownership Tax you paid on your vehicles &nbsp;Indiana &nbsp;The Excise Tax Fees you paid on your vehicles &nbsp;Iowa &nbsp;The Vehicle Registration Fee you paid based on your vehicle's value &nbsp;Kentucky &nbsp;The Vehicle Registration Fee you paid based on your vehicle's value &nbsp;Louisiana &nbsp;The License Plate Fee you paid based on your vehicle’s value &nbsp;Massachusetts &nbsp;The Motor Vehicle Excise Tax you paid on your vehicles &nbsp;Michigan &nbsp;The License Fee you paid based on your vehicle's value, if the model year is 1984 and newer &nbsp;Minnesota &nbsp;The Registration Tax you paid on your vehicles &nbsp;Mississippi &nbsp;The Ad Valorem Tax you paid on your vehicles &nbsp;Missouri &nbsp;The Personal Prope... Mon, 07 Sep 2020 13:12:27 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/is-my-car-registration-fee-deductible/01/27212#M237 TurboTax Help 2020-09-07T13:12:27Z https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-a-qualifying-person-for-the-child-and-dependent-care-credit/01/26476#M236 For the purposes of the Child and Dependent Care Credit, a "Qualifying Person" is defined as one of the following: A child that was age 12 (or younger) for at least part of 2019 and who is also claimed as a dependent on your return. If the child turns 13 during the year, the child will qualify for the part of the year that he or she was under age 13. Exception: See special rules for divorced or separated parents, below Your spouse, if s/he is unable to care for themselves and lived in your home for at least 6 months during 2019 Anybody who lived in your home for at least 6 months during 2019 and was unable to care for themselves, if they: Are claimed as a dependent on your return, or Could have been claimed as your dependent but weren't because their gross income was $4,200 or more, s/he filed a joint return, or you (or your jointly-filing spouse) could be claimed as a dependent on somebody else's 2019 return. TurboTax will figure out if the person(s) for whom you provided care meet these requirements. Special rules for children of parents who are divorced, separated, or living apart Even if you can't claim your child as a dependent, he or she is treated as your qualifying person if: The child either: Was 12 or under or wasn't physically or mentally able to care for himself or... Thu, 27 Aug 2020 00:20:58 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-a-qualifying-person-for-the-child-and-dependent-care-credit/01/26476#M236 TurboTax Help 2020-08-27T00:20:58Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-sales-tax-did-i-pay-last-year/01/26358#M234 You can easily calculate this using the sales tax&nbsp;EasyGuide in TurboTax. With your tax return open in TurboTax, search for sales tax and then select the "Jump to" link in the search results. On the Let's Compare Your Sales Tax and Income Tax screen select Try Sales Tax Deduction Anyway. When asked how you want to enter your sales tax, select&nbsp;EasyGuide. Keep following the onscreen instructions. We'll calculate the sales tax you paid in 2019 and fill out the corresponding worksheets behind the scenes. Related Information: Where do I enter my sales taxes paid? Mon, 10 Aug 2020 21:05:53 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-sales-tax-did-i-pay-last-year/01/26358#M234 TurboTax Help 2020-08-10T21:05:53Z https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-sales-taxes-paid/01/26357#M233 If you’re taking the sales tax deduction, here’s how to enter the sales tax you paid: Open or continue your return. Search for sales tax and select the Jump to link in the search results. When asked how you want to enter your sales tax info: Choose EasyGuide if you want us to walk you through it. If you’ve saved all of your receipts, you can choose Enter All My Receipts and give us the grand total. Related Information: Which deduction should I choose, state and local income tax or sales tax? How much sales tax did I pay in 2019? What sales tax payments can I claim on my federal taxes? How will tax reform affect my 2018 federal tax return? Mon, 10 Aug 2020 21:05:51 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-sales-taxes-paid/01/26357#M233 TurboTax Help 2020-08-10T21:05:51Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-parent-as-a-dependent/01/26139#M232 Whether it's a parent, friend, or relative you support, being able to claim someone as a dependent can save you money. If you're not sure you can claim your parent or another person as a dependent, we'll help you figure that out. Generally, you can claim your parent if they didn't have more than $4,200 in gross income (excluding nontaxable Social Security) and you provided more than half of their support in 2019. Your parent doesn't have to live with you. There are a few other specifics we'll ask you about as we go along. Wed, 26 Aug 2020 20:29:12 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-parent-as-a-dependent/01/26139#M232 TurboTax Help 2020-08-26T20:29:12Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mortgage-points/01/26140#M231 Yes, &nbsp;you can deduct points for your&nbsp;main&nbsp;home,&nbsp;if all of the following conditions apply: They're discount points (see the definition) The mortgage is used to buy, build, or improve the home, and the home is the collateral for the loan Paying mortgage points is a customary practice in your area and the points you paid aren't excessive for your neighborhood The points were paid directly to the lender, either by you or the seller (no borrowing) Your down payment, plus any points the seller paid, exceed the points paid amount You use the cash method of accounting (almost all taxpayers do) The points are calculated as a percentage of the mortgage principal (not required on home-improvement loans) The points are clearly itemized on your settlement statement as points (not required on home-improvement loans) If you meet all the above criteria, you can either deduct all your points in the year you paid them or deduct them in equal increments over the life of the loan. Either way, you'll need to itemize to get the deduction. The deduction for mortgage interest is capped at $750,000 of debt. Interest on up to $1 million of acquisition debt for loans prior to December 15, 2017 is grandfathered. Are points deductible on a second home and refinances? On a second home, points can only be d... Mon, 07 Sep 2020 12:49:47 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mortgage-points/01/26140#M231 TurboTax Help 2020-09-07T12:49:47Z https://ttlc.intuit.com/community/health-care/help/why-is-my-hsa-distribution-taxable/01/26609#M230 An HSA distribution – money spent from your HSA account – is nontaxable as long as it's used to pay for&nbsp;qualified medical expenses. HSA distributions used for anything other than qualified medical expenses are not only taxable, they're subject to an additional 20% penalty if you're not disabled or are under the age of 65. After you enter your&nbsp;1099-SA, we'll ask&nbsp;Did you spend all the money you took out on medical expenses?&nbsp;If you answer Yes, the entire distribution in Box 1 of your 1099-SA is nontaxable. However, if you answer No,&nbsp;the portion that wasn't used for qualified medical expenses becomes taxable income. This income appears on Form 8889, line 16 and Schedule 1, line 8. The 20% additional penalty, if applicable, will show up on Line 17b of your 8889 and Schedule 2, line 8. Related Information: What kinds of medical expenses are deductible? Where do I enter my HSA contribution? Can I deduct medical costs paid with HSA or MSA funds? What is a health savings account (HSA)? Why am I showing an excess HSA contribution in 2019? Fri, 11 Sep 2020 17:39:42 GMT https://ttlc.intuit.com/community/health-care/help/why-is-my-hsa-distribution-taxable/01/26609#M230 TurboTax Help 2020-09-11T17:39:42Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-can-i-deduct-for-donating-a-car/01/26344#M229 The maximum you can deduct is the fair market value (FMV) of your car. Generally, that's the price a willing buyer would pay a willing seller, assuming neither party is being forced to buy/sell and both parties have reasonable knowledge about the condition of the vehicle. Here's where it gets a little tricky: if the FMV is $500 or less, claim the FMV. If the FMV of your donated car exceeds $500, you can only deduct the amount the charity received (or expects to receive) when sold at auction, in most cases. For example, if your old Subaru hatchback had a FMV of $950 at the time of donation and the charity later sold it for $680, you can only deduct $680. Charities must give you Form 1098-C with the allowed donation amount within 30 days of the donation or sale.&nbsp;You'll need to send a copy of Form 1098-C along with some other paperwork to the IRS (we'll walk you through this process in TurboTax). How do I determine the FMV of my car? The most accurate method&nbsp;is to look for private party&nbsp;ads for similar vehicles for sale in your area. If you can't find sales ads for similar vehicles, you can&nbsp;use industry pricing guides like Edmunds or Kelley Blue Book. Related Information: Do I need a receipt for my donation? How do I enter my 2019 charitable donations in TurboTax? Mon, 10 Aug 2020 21:04:32 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-can-i-deduct-for-donating-a-car/01/26344#M229 TurboTax Help 2020-08-10T21:04:32Z https://ttlc.intuit.com/community/charitable-contributions/help/how-do-i-determine-the-value-of-donated-items/01/26348#M228 Most of the time it will be the fair market value&nbsp;(FMV) of your item. However, if the amount you originally paid for the item is less than the FMV, you must use the original cost of the item. You can get the FMV by looking at similar items for sale on&nbsp;eBay, Craigslist, or at your local thrift store. When you use our&nbsp;ItsDeductible&nbsp;program, it will assign a FMV to most items that are commonly donated. Determining the value of a donated car involves a few more steps, if its value is over $500. Related Information: How and where does Its Deductible obtain its values? How much can I deduct for donating a car? Do I need a receipt for my donation? Mon, 10 Aug 2020 21:04:49 GMT https://ttlc.intuit.com/community/charitable-contributions/help/how-do-i-determine-the-value-of-donated-items/01/26348#M228 TurboTax Help 2020-08-10T21:04:49Z https://ttlc.intuit.com/community/charitable-contributions/help/do-i-need-a-receipt-for-my-donation/01/26345#M227 Yes. For noncash donations under $250 in value, you'll need a receipt unless the items were dropped off at an unmanned location such as a clothing bin. Noncash donations from $250 to $500 in value require a receipt that includes the charity's name, address, date, donation location and description of items donated. Noncash donations over $500 in value also require a record of how and when the items were acquired and their adjusted basis. If the donation exceeds $5,000 in value, it'll need a written appraisal from a qualified appraiser. For cash donations under $250, you'll either need a bank record (like a canceled check or bank statement) or a written acknowledgment from the charity which includes the date and amount of your contribution. Bank records are insufficient for cash donations of $250 or more. Instead, you'll need something in writing from the charity which includes the date and amount of your donation. Donations made through payroll deduction require you to keep a pay stub, Form W-2 or other document furnished by your employer that shows the date and amount of your contribution. &nbsp;In addition, you'll also want to keep the pledge card showing the name of the organization. Related Information: Can I deduct donations to charity? How do I enter my 2019 charitable donatio... Mon, 07 Sep 2020 12:55:24 GMT https://ttlc.intuit.com/community/charitable-contributions/help/do-i-need-a-receipt-for-my-donation/01/26345#M227 TurboTax Help 2020-09-07T12:55:24Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-tuition-and-fees-deduction/01/26134#M226 The Tuition and Fees Deduction allows eligible taxpayers to deduct up to $4,000 in education expenses for themselves, their spouses, or their dependents. You don't need to itemize to get the deduction. You're eligible for this deduction if you don't qualify for the American Opportunity Credit or the Lifetime Learning Credit, unless: You’re filing as single or head of household and your AGI exceeds $80,000. You’re filing jointly and your combined AGI exceeds $160,000. You’re filing separately from your spouse. Someone else, such as a parent, is eligible to claim you as a dependent on their tax return (whether or not they actually do it). You also need to have qualified expenses, which include tuition, course-related books, supplies or equipment, enrollment fees, lab fees, and other expenses required to enroll or&nbsp;attend&nbsp;an eligible educational institution. Things you can't claim: Room and board Extracurricular activities Student health fees Insurance Living expenses like food Housing, or transportation Fees for noncredit or "fun" courses not required to earn the degree An eligible educational institution is any college, university, vocational school, or post-secondary educational institution eligible to participate in a student aid program administered by the US Department of Ed... Mon, 07 Sep 2020 12:49:40 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-tuition-and-fees-deduction/01/26134#M226 TurboTax Help 2020-09-07T12:49:40Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-qualifications-for-the-earned-income-credit-eic-or-eitc/01/25603#M225 To qualify for and claim the Earned Income Credit you must: Have earned income; and Have been a U.S. citizen or resident alien for the entire tax year; and Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly), and any qualifying children on your return; and Not have investment income exceeding $3,600; and Not be filing a Form 2555 or 2555-EZ; and File a return with the Single, Married Filing Jointly, Head of Household, or Qualifying Widower filing status, even if you're not required to file a return. In addition, both your earned income and Adjusted Gross Income (AGI) may not exceed: $15,570 if you're not claiming a qualifying child ($21,370 if filing jointly); $41,094 if you're claiming 1 qualifying child ($46,884 if filing jointly); $46,703 if you're claiming 2 qualifying children ($52,493 if filing jointly); $50,162 if you're claiming 3+ qualifying children ($55,952 if filing jointly). One more thing — if you're not claiming a qualifying child: You (or your jointly filing spouse) must have been born on or after January 1, 1955; and You (or your jointly filing spouse) must have been born on or before December 31, 1994; and You (and your jointly filing spouse) cannot be claimed as a qualifying child or dependent on anyone else's retu... Mon, 07 Sep 2020 12:35:16 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-qualifications-for-the-earned-income-credit-eic-or-eitc/01/25603#M225 TurboTax Help 2020-09-07T12:35:16Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-tax-credits-and-deductions-affect-my-refund/01/26752#M224 Tax credits and deductions are commonly confused, but each affect your refund in a different way. Here's a quick explanation: Tax credits, dollar-for-dollar, reduce the amount of taxes you owe. If you claim more credits than you owe in taxes, you may end up owing nothing, and in certain situations, getting additional money back. Tax deductions reduce the amount of income you'll be taxed on. If you make $45,000 and claim $2,000 in deductions, you'll be taxed as if you made $43,000 when you file. The IRS will pay you the difference in your refund. <A href="https://youtu.be/BfmILqzCrVM" target="_blank">https://youtu.be/BfmILqzCrVM</A> Related Information: Why doesn't my refund increase when I enter a deduction? Who is eligible to take the American Opportunity Tax Credit? Where do I enter my estimated tax payments? Related Information: What are the qualifications for the Earned Income Credit (EIC or EITC)? What is the Child and Dependent Care Credit? Who is eligible to take the American Opportunity Tax Credit? Mon, 07 Sep 2020 13:04:53 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-tax-credits-and-deductions-affect-my-refund/01/26752#M224 TurboTax Help 2020-09-07T13:04:53Z https://ttlc.intuit.com/community/credits-and-deductions/help/are-funeral-costs-deductible/01/26125#M223 Funeral costs (including embalming, burial, and cremation) aren't&nbsp;deductible on individual (Form 1040) returns and trust (Form 1041) tax returns. In the event an estate is qualified to file an estate (Form 706) return, the funeral costs are deductible. Health care expenses paid for a deceased spouse or dependent are deductible. Medical expenses paid within 1 year after death can be claimed on a decedent's final return for the year in which they were incurred, if a joint return isn't filed, and they're paid out of the estate. Mon, 10 Aug 2020 18:37:27 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/are-funeral-costs-deductible/01/26125#M223 TurboTax Help 2020-08-10T18:37:27Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-if-somebody-already-claimed-my-dependent/01/25605#M222 First, revisit the&nbsp;My Info or Personal Info section to verify your dependent's Social Security number (if wrong, correct it and then step through the File section to resubmit your return). If you already verified this info, you'll need to paper-file your return as the IRS will continue to reject your attempts to e-file. Then, if you know who claimed your dependent, ask them to amend their return by removing the dependent. Amendment processing can take weeks, even months, which is why it's best to paper-file your return in the meantime. If the other taxpayer is uncooperative, the IRS will eventually contact both of you to figure out who gets to claim the dependent. The losing party will then be liable for any additional taxes, penalties, and/or interest as a result of the false claim. Important: If you don't know who might have claimed your dependent, it could be a case of tax-related identity theft. Please contact us for assistance. What to do if you suspect identity theft. Related Information: Who can I claim as my dependent? How do I add or remove a dependent? How to amend (change or correct) a return you already filed Mon, 10 Aug 2020 12:48:01 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-if-somebody-already-claimed-my-dependent/01/25605#M222 TurboTax Help 2020-08-10T12:48:01Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-parking-fees-for-attending-school-or-college/01/26122#M221 Parking fees, transportation costs, and mileage don't count as deductible education-related expenses. If you're self-employed, you might be able to deduct these fees if the education maintains or improves skills required by your current line of work or is mandated by law or industry regulations (for example, if you’re required to take X hours of continuing education every year to keep your license). Related Information: What are qualified education expenses for the American Opportunity and Lifetime Learning credits? Mon, 07 Sep 2020 12:49:29 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-parking-fees-for-attending-school-or-college/01/26122#M221 TurboTax Help 2020-09-07T12:49:29Z https://ttlc.intuit.com/community/business-expenses/help/what-is-depreciation/01/26123#M220 On your business taxes, depreciation&nbsp;(also called capitalization, cost recovery, or amortization) lets you deduct the "used up" portion of an asset's cost every year, until the asset no longer retains any value or has been sold, destroyed, or otherwise disposed of. The concept of depreciation is based on the notion that business&nbsp;assets eventually wear out, get used up, or become obsolete. With one notable exception (Section 179), depreciation is required for most "big ticket" business assets that have a useful life of more than one year and wear out over time, such as buildings, vehicles, equipment, office furniture, computers, and tools used by the business. Business assets must meet 3 conditions to be depreciable: The asset must be used to produce business income, rent, or royalty payments. There are exceptions for assets that failed to produce income, although that was their primary purpose. The asset must wear out, decay, becomes obsolete, or lose value over time. The asset has a useful life that can be measured and exceeds 1 year. You're not allowed to depreciate consumable items like office supplies, even if they last more than a year. You're also not allowed to depreciate land, inventory, or leased property. Once a depreciable asset is sold, bartered, discarded, or dest... Mon, 10 Aug 2020 18:31:55 GMT https://ttlc.intuit.com/community/business-expenses/help/what-is-depreciation/01/26123#M220 TurboTax Help 2020-08-10T18:31:55Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-check-in-turbotax-to-see-if-i-claimed-the-eic-and-or-actc/01/27029#M219 You’ll need to check your 1040 form to know if you’ve claimed either or both of the credits. To find your 1040 form in: TurboTax Online When in your account, select the Take Me to My Return button on the main screen. Select Tax Tools on the left side of the screen, then select the Tools option. Select View Tax Summary. &nbsp; TurboTax Online after you’ve filed Sign in and open your return. Under Your tax returns &amp; documents, select the tax year of the return. Select Download/print return PDF. &nbsp; TurboTax Desktop For Windows users: When in the program, select&nbsp;View. Then from the drop-down, select Forms. On the left under&nbsp;Forms in My Return, select your 1040 form. For Mac users: When in the program, select View. Then from the drop-down, select Go to Forms. On the left under Federal Forms, select your 1040 form. It will be on EIC line 17a, ACTC line 17b. Related Information: Some 2019 federal refunds are delayed due to the PATH Act What is the Additional Child Tax Credit? Related Information: Some 2019 federal refunds are delayed due to the PATH Act Mon, 07 Sep 2020 13:10:35 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-check-in-turbotax-to-see-if-i-claimed-the-eic-and-or-actc/01/27029#M219 TurboTax Help 2020-09-07T13:10:35Z https://ttlc.intuit.com/community/credits-and-deductions/help/nonresident-state-tax-credit-does-not-display-in-resident-state-return/01/25719#M218 If you need to prepare more than one state return, you may notice that your resident state return isn't giving you a credit for the taxes you paid to the nonresident state(s). The state where you live (your resident state) will tax all your income and will give a credit for taxes paid to&nbsp;the non-resident&nbsp;state on the resident state return so you are not double taxed. In order to receive a non-resident state tax credit follow these steps: Enter your non-resident state information first. Enter your resident state information next. Check to make sure you choose the resident state long form. On your resident return summary screen you'll see a credit for your non-resident state taxes. If you created your resident state return before you began work on your nonresident state return, TurboTax will not pull over any tax amounts (credits) from your nonexistent nonresident state return. To resolve this issue, you will need to&nbsp;remove your resident state return&nbsp;and then create a new resident state return. Doing this has the same effect as entering your non-resident state first, which is how the returns should be entered. How are the resident and non-resident incomes allocated? Depending on your state, resident and non-resident&nbsp;incomes&nbsp;may be&nbsp;allocated automatically according to&nbsp;your Wages ... Mon, 07 Sep 2020 12:36:49 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/nonresident-state-tax-credit-does-not-display-in-resident-state-return/01/25719#M218 TurboTax Help 2020-09-07T12:36:49Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-educator-expense-deduction/01/25829#M217 If you are a teacher, instructor, counselor, aide, or principal that works at least 900 hours in a school that provides K–12 education, you can deduct up to $250 in unreimbursed expenses for books, supplies, and equipment used in the classroom. Although the $250 deduction survived the Tax Cuts and Jobs Act signed into law on December 22, 2017, expenses above and beyond the $250 limit are no longer deductible in tax years 2018 through 2025. Prior to the tax law change, the excess qualified as a miscellaneous itemized deduction subject to the 2% limitation. Thu, 27 Aug 2020 00:18:59 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-educator-expense-deduction/01/25829#M217 TurboTax Help 2020-08-27T00:18:59Z https://ttlc.intuit.com/community/credits-and-deductions/help/does-my-business-qualify-for-the-california-disabled-access-credit/01/27600#M216 Your business qualifies for California’s Disabled Access Credit for Eligible Small Businesses if it had one of the following expenditures: Removed architectural, communication, physical, or transportation barriers that prevent the business from being accessible to, or usable by, people with disabilities, if the facility first placed in service before November 6, 1990 Provided qualified interpreters or other methods of making audio materials available to people who are deaf or hard of hearing. Provided qualified readers, taped texts, and other methods of making visual materials available to people with visual impairment Acquired or modified equipment or devices for people with disabilities Provided other similar services, modifications, materials, or equipment Businesses must also meet certain requirements to be able to take the credit: Had gross receipts (which can be reduced by returns and allowances) of less than $1 million in the tax year, or Employed no more than 30 full-time employees during the tax year Your business can receive a credit of up to $125 on eligible expenses by filing Form 3548. Related Information: What expenses qualify for the Lifetime Learning Credit? Can I claim my student loan? What is the Qualified Business Income (QBI) deduction? Can I claim energy-e... Mon, 07 Sep 2020 13:18:52 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/does-my-business-qualify-for-the-california-disabled-access-credit/01/27600#M216 TurboTax Help 2020-09-07T13:18:52Z https://ttlc.intuit.com/community/health-care/help/why-am-i-showing-an-excess-hsa-contribution/01/26610#M215 For 2019, the maximum combined&nbsp;total&nbsp;that you, your employer, and/or any other eligible person can contribute to your HSA account is: $3,500 if you're under 55 at the end of 2019 and are covered by an individual (self-only) HDHP; $7,000 if you're under 55 at the end of 2019 and are covered by a family HDHP; $4,500 if you're 55 or older at the end of 2019 and are covered by an individual (self-only) HDHP; $8,000 if you're 55 or older at the end of 2019 and are covered by a family HDHP. Spouses on separate plans: The $7,000 family limit applies to married couples even if one spouse is covered by a family plan and the other spouse has their own individual plan. In this scenario, the couple may split their respective contributions any way they like, as long as the couple's total contribution doesn't exceed $7,000. (Spouses 55 or older at the end of 2019 are allowed to contribute an additional $1,000 to their own HSA.) If the 2019 HSA contribution exceeds the allowable amount, the excess must be withdrawn by July 15, 2020 to avoid a penalty (October 15 if you filed an extension). Double-check your entries We recommend revisiting the HSA entry screens to make sure the excess contribution wasn't due to an entry error. Here's how: With your return open, search for hsa inside your prog... Tue, 08 Sep 2020 18:50:25 GMT https://ttlc.intuit.com/community/health-care/help/why-am-i-showing-an-excess-hsa-contribution/01/26610#M215 TurboTax Help 2020-09-08T18:50:25Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-2-rule/01/26650#M214 The 2% rule referred to the limitation on certain miscellaneous itemized deductions, which included things like unreimbursed job expenses, tax prep, investment, advisory fees, and safe deposit box rentals. In 2017 and earlier tax years, wage-earners and other taxpayers who weren’t able to write these off as business expenses were allowed to deduct the portion of these miscellaneous expenses that exceeded 2% of their AGI, provided they took the itemized deduction. These miscellaneous expenses were reported on Form 2106. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the deduction for these 2% miscellaneous expenses has been suspended in tax years 2018 through 2025. However, this doesn’t affect: Self-employed individuals and businesses who can continue to deduct business-related expenses on Schedule C as before People who work in one of these specific professions or situations Armed Forces reservist Qualified performing artist Fee-basis state or local government official You're disabled and have impairment-related expenses Your job-related expenses may still be allowed on your state return. Enter your expenses and we’ll figure out if you can deduct them. Related Information: Which federal tax deductions have been suspended by tax reform? Tue, 11 Aug 2020 00:49:50 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-2-rule/01/26650#M214 TurboTax Help 2020-08-11T00:49:50Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-my-moving-expenses/01/26119#M213 If you’re active-duty military and were ordered to move as the result of a PCS (permanent change of station), you can deduct your out-of-pocket moving expenses to your new post, including travel and lodging (but not meals). You cannot deduct moving expenses for which you were reimbursed, nor can you deduct moving expenses that were paid for by the government. For everybody else, the moving expense deduction has been suspended for tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act that was signed into law in late December of 2017. Prior to the suspension, full-time employees who worked at least 39 weeks during the first 12 months at their new job location could deduct moving expenses that were paid within one year of the date they first reported to work at their new workplace, provided the distance between their old home and new workplace was at least 50 miles further than it was from the old workplace. Related Information: What is the 2% rule? Which federal tax deductions have been suspended by tax reform? What types of meal and entertainment expenses are 100% deductible on a business return? I bought a house, what can I deduct? Can I deduct moving expenses if I moved twice for work? Mon, 07 Sep 2020 12:49:24 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-my-moving-expenses/01/26119#M213 TurboTax Help 2020-09-07T12:49:24Z https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-what-can-i-deduct/01/27097#M212 If you sold a&nbsp;qualified home, you can make deductions up until the time you sold your home, which includes mortgage interest, mortgage insurance, points and real estate/property taxes. You should be able to see these on the 1098 from your lender. You can also deduct: Home improvement costs (which are more or less permanent changes to the house and not the same as repairs and maintenance) Mortgage interest and/or real estate/property taxes charged at closing (other than that, almost no closing costs are deductible) Look at Selling Your Home by the IRS for more in-depth information. Related Information: I bought a house, what can I deduct? Can I deduct mortgage points? Is the money I made from a home sale taxable? How do I handle multiple 1098 mortgage forms? What kinds of refinancing costs can I deduct? Related Information: I bought a house, what can I deduct? Can I deduct my moving expenses? Where do I enter my 1098 mortgage interest statement? Is the money I made from a home sale taxable? Can I deduct home improvements on my tax return? Can I claim property (real estate) taxes if I recently bought or sold my home? Mon, 07 Sep 2020 13:11:23 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-what-can-i-deduct/01/27097#M212 TurboTax Help 2020-09-07T13:11:23Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-adoption-credit/01/26113#M211 The adoption tax benefits provide an incentive for individuals or families to adopt an eligible child. The 2019 maximum dollar amount per eligible child is $14,080. If your expenses were spread over multiple years, you might be able to spread the credit over multiple tax returns (see Who Qualifies and What Adoption Expenses Qualify below). Included in the tax benefits is a nonrefundable tax credit. This is a dollar-for-dollar reduction in the amount of federal taxes owed (tax liability) for the year. You won't get a refund if the tax credit is more than your total tax owed for the year. However: Any credit in excess of your tax liability may be carried forward for up to five years. There's an exclusion from income for an approved employer-provided adoption assistance program. To claim the adoption tax credit in TurboTax: Open or continue your return if it isn't already open. Search for adoption credit and select the Jump to&nbsp;link. On the Did you pay any adoption expenses in 2019 or earlier? or the Credit for Adoption Expenses&nbsp;screen, read the information and, if you qualify, answer Yes. Continue answering questions until you're finished. An eligible child is: Any child under the age of 18. If the child turned 18 during the year, the child is an eligible child for the part of th... Thu, 27 Aug 2020 00:40:55 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-adoption-credit/01/26113#M211 TurboTax Help 2020-08-27T00:40:55Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-qualified-charitable-organization/01/26938#M210 It's an organization that has been granted tax-exempt status by the IRS and is eligible to receive tax-deductible charitable contributions. Examples of qualified charitable organizations: Churches, mosques, synagogues, temples, and other religious organizations Charities like Goodwill, United Way, Salvation Army, Red Cross, CARE, Boy/Girl Scouts, and Boys &amp; Girls Clubs of America Nonprofit schools, hospitals, and volunteer fire departments Veterans' and certain cultural groups Public parks and recreation facilities If you're not sure of the organization's charitable status, contact them directly or use the IRS Exempt Organizations Lookup Tool. Related Information: Can I deduct donations to charity? Do I need a receipt for my donation? How do I enter my 2019 charitable donations in TurboTax? Tue, 11 Aug 2020 03:36:41 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-qualified-charitable-organization/01/26938#M210 TurboTax Help 2020-08-11T03:36:41Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-deduct-mortgage-interest-if-i-co-owned-the-home/01/27092#M209 There are different situations that affect how you deduct mortgage interest when co-owning a home. The co-owner is a spouse who is on the same return: Enter the full amount as it appears on the 1098. The 1098 has multiple names, but only one person is paying the mortgage/interest: Only the person who actually paid the interest can take the deduction. The 1098 has multiple names and multiple people are paying the mortgage/interest: Each can deduct their portion of interest paid. When entering the 1098 only enter the amount that you actually paid, not the full amount. The 1098 is in someone else's name (not a seller-financed loan), but you pay some or all of the mortgage/interest: In most cases you'd have to be the owner of the property to take the deduction. If you can prove you're the owner in every way but in name (constructive ownership), you could still be allowed to take the deduction.&nbsp;(You could get audited and have to prove constructive ownership. If the IRS doesn't allow the deduction, you may have to go to tax court and argue your case.)You’ll be able to explain in TurboTax why you’re taking the deduction. In the Deductions &amp; Credits section (where you enter mortgage interest), check The interest amount I entered is different than what's on my 1098 when entering your i... Mon, 07 Sep 2020 13:11:17 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-deduct-mortgage-interest-if-i-co-owned-the-home/01/27092#M209 TurboTax Help 2020-09-07T13:11:17Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-contributions-to-a-529-plan/01/26374#M208 No, not on your federal taxes. However, some states let you deduct all or part of your 529 plan contributions. If your state is one of those states, we'll prompt you to enter your 529 contributions when you get to the credits/deductions portion of your state tax interview. Related Information: What are 529 plans? Where do I enter a 1099-Q? Related Information: What are 529 plans? Mon, 07 Sep 2020 12:55:42 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-contributions-to-a-529-plan/01/26374#M208 TurboTax Help 2020-09-07T12:55:42Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-the-cost-of-private-schooling-be-deducted/01/25879#M206 No, the cost of private school (K-12) doesn't qualify for any education deductions or credits on your federal return. If your child attends a daycare program before or after school, whether at a public or private school, you may qualify for a child care credit. Some private school tuition for special needs students may be eligible for a medical deduction. The Tax Cuts and Jobs Act now allows distributions from a 529 plan to be used for elementary or secondary (K-12) public, private, or religious school expenses. For more information see Frequently Asked Questions on 529 plans. A few states allow deductions for K-12 education and/or home schooling expenses. If your state is one of them, we'll ask you about it when we get to your state return. Mon, 10 Aug 2020 15:29:43 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-the-cost-of-private-schooling-be-deducted/01/25879#M206 TurboTax Help 2020-08-10T15:29:43Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-can-i-deduct-when-refinancing-rental-property/01/25982#M205 Unlike your primary residence, where you can only deduct qualified points and interest, you can deduct all costs associated with obtaining a new mortgage for your rental property. Typical loan-related expenses include: Points Loan origination and loan assumption fees Mortgage insurance premiums Application fees Credit report fees Appraisal fees (if required by the lender) The costs associated with obtaining a mortgage on rental property are amortized (spread out)&nbsp;over the life of the loan. For example, if it cost you $3,000 to refinance your 30-year mortgage, you'd be able to deduct $100 per year for the next 30 years. Other refinance-related expenses not directly related to the mortgage may also be deductible. Generally, if the cost is associated with operating the property (like real estate taxes or hazard insurance) they're deducted as expenses, whereas costs associated with purchasing the property (like title search fees or recording fees) are added to the property's cost basis, which means they get depreciated. When you enter your rental property information, we'll ask about all of these things and deduct them according to the rules. Related Information: Where do I enter income and expenses from a rental property? What kinds of rental property expenses can I deduct? How d... Fri, 28 Aug 2020 17:02:58 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-can-i-deduct-when-refinancing-rental-property/01/25982#M205 TurboTax Help 2020-08-28T17:02:58Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-education-expenses-that-were-paid-with-student-loans/01/25981#M204 It doesn't matter how&nbsp;education expenses were paid; eligible expenses can be deducted whether they were paid out-of-pocket or through a student loan. When paying expenses through a loan, deduct them in the tax year you paid the expenses, not the year you got the loan or paid it off. Keep in mind that if someone claims the student as a dependent, that person (not the student) gets the education credit, regardless of who actually paid the expenses. Related Information: Can I claim my student loan? What are examples of education expenses? What are qualified education expenses for the American Opportunity and Lifetime Learning credits? Related Information: Can I claim my student loan? Mon, 07 Sep 2020 12:43:57 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-education-expenses-that-were-paid-with-student-loans/01/25981#M204 TurboTax Help 2020-09-07T12:43:57Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-still-itemize-my-deductions/01/26528#M203 When you finish going through the Deductions &amp; Credits section, we'll automatically give you the deduction, Standard or itemized, that gives you the best outcome on your federal taxes. We estimate that nearly 90% of federal tax filers will be better off taking the higher Standard Deduction. If you still want to switch to the itemized deduction, you can do that. Follow these instructions. With state returns, things are a little different. Some states, like Illinois and Massachusetts, don't have itemized deductions, while others, like New York, require that you choose the same deduction you took on your federal return. When you get to your state return, we'll let you know what’s available according to your state's tax laws. Related Information: How does the Standard Deduction differ from itemizing deductions? How do I change from the standard deduction to itemized (or vice-versa)? What's my standard deduction for 2019? Can I deduct private mortgage insurance (PMI or MIP)? How will tax reform affect my 2018 federal tax return? Related Information: How do I change from the standard deduction to itemized (or vice-versa)? How does the Standard Deduction differ from itemizing deductions? Mon, 07 Sep 2020 12:57:50 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-still-itemize-my-deductions/01/26528#M203 TurboTax Help 2020-09-07T12:57:50Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-itsdeductible/01/25975#M202 TurboTax ItsDeductible&nbsp;is a free program included with, TurboTax Deluxe TurboTax Live Deluxe TurboTax Premier TurboTax Live Premier TurboTax Self-Employed TurboTax Live Self-Employed TurboTax Home &amp; Business It lets you enter your charitable donations year-round so you can import them directly into your return at tax time. It's available online and as a mobile app. Why use ItsDeductible? ItsDeductible can help you save on your taxes if you itemized your deductions. You probably have no idea how much your donated items are really worth. Like most people, you just want to get rid of all that unwanted stuff taking up space. What you might not know is that the IRS allows you to deduct the fair market value of those donated items, as long as they are in good or better condition, and that's where ItsDeductible comes in. ItsDeductible's patented fair market valuation process not only saves you time, it can save the average donor who itemizes&nbsp;hundreds of dollars per year in taxes. Related Information: How do I import my donations from ItsDeductible? How and where does Its Deductible obtain its values? Mon, 10 Aug 2020 16:38:54 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-itsdeductible/01/25975#M202 TurboTax Help 2020-08-10T16:38:54Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-additional-child-tax-credit/01/26730#M201 The&nbsp;Additional&nbsp;Child Tax Credit&nbsp;isn't a credit you get for additional children; rather, it's the leftover portion of the&nbsp;Child Tax Credit&nbsp;(up to $1,400) that you're eligible to receive if the Child Tax Credit wipes out your tax liability for the year. For example, let's say you qualify for the full $2,000 Child Tax Credit but your&nbsp;tax liability&nbsp;for the year is only $750. You'd get $750 back from the Child Tax Credit (the amount needed to reduce your tax liability to $0) and the remaining $1,250 as the Additional Child Tax Credit. Qualifications for the Additional Child Tax Credit are the same as for the Child Tax Credit, with one more condition: your&nbsp;earned income&nbsp;must be at least $2,500. Related Information: What is the Child Tax Credit? What does "tax liability" mean? Is that the amount I still owe? What is earned income? Some 2019 federal refunds are delayed due to the PATH Act Related Information: What is the Child Tax Credit? What does "tax liability" mean? Is that the amount I still owe? What is earned income? What is the $500 Credit for Other Dependents (“Family Tax Credit”)? Mon, 07 Sep 2020 13:04:27 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-additional-child-tax-credit/01/26730#M201 TurboTax Help 2020-09-07T13:04:27Z https://ttlc.intuit.com/community/health-care/help/can-i-file-my-return-without-providing-information-about-my-health-insurance/01/27121#M200 Starting in 2019, there's no longer a penalty for not having health insurance starting. However, if you had health insurance through Marketplace or received a Form 1095-A, you'll need to fill out a Form 8962 to reconcile the Premium Tax Credit. We'll create this for you when you enter your info. Related Information: How much is the Affordable Care Act penalty? Can I get a health insurance penalty exemption for 2019? What doesn’t count as health insurance on my 2018 return? What counts as health insurance for my 2019 tax return? Related Information: What counts as health insurance for my 2019 tax return? What doesn’t count as health insurance on my 2018 return? What is the Affordable Care Act (ACA)? How much is the Affordable Care Act penalty? Can I get a health insurance penalty exemption for 2019? Mon, 07 Sep 2020 13:11:44 GMT https://ttlc.intuit.com/community/health-care/help/can-i-file-my-return-without-providing-information-about-my-health-insurance/01/27121#M200 TurboTax Help 2020-09-07T13:11:44Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-interest-on-a-home-equity-loan-or-a-heloc/01/27090#M199 The interest for a home equity loan or HELOC (home equity line of credit) is an allowable deduction if you itemize. You'll need to meet some conditions: The loan or line of credit is secured (put up as collateral to protect the lender) by your main home or a second home. The home securing the loan must have sleeping, cooking, and toilet facilities. The loan or line of credit must&nbsp;be used to buy, build or substantially improve your home. This requirement began with tax year 2018 and extends through 2025. You can only deduct the portion of the loan or line of credit you used to buy, build, or substantially improve the home that is used to secure the loan or line of credit. This requirement began with tax year 2018 and extends through 2025. If you’ve ever used part of this loan to pay for things other than this home, you cannot deduct the interest from that amount of the loan, even if the transaction didn’t take place this year. To get the full deduction, your mortgage debt doesn’t exceed $1,000,000 if you got your loan between October 13, 1987 and December 15, 2017 or $750,000 if you got your loan after December 15, 2017. You or someone on your tax return must have signed or co-signed the loan. If you rented out the home, you must have used the home more than 14 days during the ... Mon, 07 Sep 2020 13:11:14 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-interest-on-a-home-equity-loan-or-a-heloc/01/27090#M199 TurboTax Help 2020-09-07T13:11:14Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-employees-deduct-vehicle-expenses/01/25973#M198 Vehicle expenses related to the commute between your home and main workplace (like gas, mileage, maintenance, repairs, or lease) have never been deductible on your federal return, even if your workplace is far away or you conduct business or haul work supplies during your commute. In 2017 and earlier tax years, employees could get a partial deduction for expenses incurred while commuting between multiple job sites during the same day, as well as commutes to temporary work locations. They could also claim costs for non-commuting work-related trips, such as attending an offsite meeting or running an errand for the company. However, these expenses are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Related Information: Can I deduct travel expenses? Can I deduct mileage? Mon, 10 Aug 2020 16:38:49 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-employees-deduct-vehicle-expenses/01/25973#M198 TurboTax Help 2020-08-10T16:38:49Z https://ttlc.intuit.com/community/health-care/help/what-is-medicare/01/26668#M197 Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). The different parts of Medicare help cover specific services, like hospital stays, hospice care, doctors' and preventative services, outpatient care, medical supplies, and prescription drug coverage. Medicare Part A and Part C (Medicare Advantage) both qualify as minimum essential coverage (MEC) for the Affordable Care Act (ACA). Am I eligible? You're eligible for Medicare if you're 65 and older or have certain disabilities, including End-Stage Renal Disease. To find out if you're eligible, use the Medicare Eligibility Tool at Medicare.gov. How do I enroll? To enroll in Medicare, visit your local Social Security office or sign up online at SocialSecurity.gov. Related Information: What is the Premium Tax Credit (Related to health insurance)? Where do I enter my 1095-A? What’s my state Marketplace? How do I report and pay the Kiddie Tax on my 2019 return? What is earned income? Mon, 07 Sep 2020 13:03:47 GMT https://ttlc.intuit.com/community/health-care/help/what-is-medicare/01/26668#M197 TurboTax Help 2020-09-07T13:03:47Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-personal-exemption/01/25617#M195 A personal exemption was a set amount you could deduct for every taxpayer and dependent on your 2017 or prior tax return. The exemption amount in tax year 2017 was $4,050 per person, subject to a phaseout at higher income levels. The personal exemption was repealed by Tax Cuts and Jobs Act (TCJA). To help offset the lost exemption, the TCJA increased the Standard Deduction amount, doubled the Child Tax Credit, and created a new Credit for Other Dependents (also known as the Family Tax Credit). Related Information: Which federal tax deductions have been suspended by tax reform? Mon, 10 Aug 2020 12:54:43 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-personal-exemption/01/25617#M195 TurboTax Help 2020-08-10T12:54:43Z https://ttlc.intuit.com/community/credits-and-deductions/help/is-mortgage-interest-paid-on-an-rv-or-mobile-home-tax-deductible/01/25960#M194 Yes. You're allowed to deduct the interest&nbsp;on a loan secured by your main home (where you ordinarily live most of the time) and a second home. A mobile home, RV, house trailer, or houseboat that has sleeping, cooking, and toilet facilities counts as a main or second home, and as long as it meets all the other requirements for deducting mortgage interest, you can claim the interest like an immovable home. Thu, 27 Aug 2020 01:01:26 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/is-mortgage-interest-paid-on-an-rv-or-mobile-home-tax-deductible/01/25960#M194 TurboTax Help 2020-08-27T01:01:26Z https://ttlc.intuit.com/community/credits-and-deductions/help/who-can-i-claim-as-my-dependent/01/26781#M193 You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2019 taxes as long as they meet the following requirements: Qualifying child They're related to you. They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They're under the age of 19 (or 24 for full-time students). No age limit for permanently and totally disabled children. They lived with you for more than half the year (exceptions apply). They didn't provide more than half of their own support for the year. Qualifying relative They don't have to be related to you (despite the name). They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They lived with you the entire year. They made less than $4,200 in 2019. You provided more than half of their financial support. When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent. Related Information: Does a dependent for 2019 have to live with me? What does "financially suppo... Tue, 11 Aug 2020 02:12:43 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/who-can-i-claim-as-my-dependent/01/26781#M193 TurboTax Help 2020-08-11T02:12:43Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-made-last-year/01/25959#M192 No, you’re only allowed to deduct donations made in the year of your tax return except if you had a charitable carryover. If you itemize deductions, then your donations to qualified charities and non-profit organizations can be deducted in the year they were made. For example, donations to Goodwill on January 2, 2019 and the Red Cross on December 31, 2019 would be deducted on your 2019 tax return. Learn more about deducting donations here. You can amend up to the last three tax years to add contributions you made in previous years but were missed when you filed. Learn more about amending your tax return here. Related Information: Can I deduct donations to charity? How do I enter a charitable carryover? Mon, 31 Aug 2020 13:04:06 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-made-last-year/01/25959#M192 TurboTax Help 2020-08-31T13:04:06Z https://ttlc.intuit.com/community/health-care/help/what-if-a-family-member-is-on-my-marketplace-plan-but-is-not-listed-on-my-tax-return/01/26677#M191 If at the time of enrollment of a family member, you indicated that this person will not be a dependent on your 2019 tax return, that person will receive their own Form 1095-A and their name will not be on Part II of your 1095-A. You may need to share this information if someone else claims the dependent on their tax return such as in divorce situations. Tue, 11 Aug 2020 01:10:50 GMT https://ttlc.intuit.com/community/health-care/help/what-if-a-family-member-is-on-my-marketplace-plan-but-is-not-listed-on-my-tax-return/01/26677#M191 TurboTax Help 2020-08-11T01:10:50Z https://ttlc.intuit.com/community/health-care/help/what-health-care-penalty-exemptions-can-you-claim-if-you-weren-t-required-to-get-insurance/01/26712#M190 The Tax Cuts and Jobs Act eliminated the Affordable Care Act penalty starting with tax year 2019. The information below applies to tax year 2018 returns. The &nbsp;Affordable Care Act requires that you either have health insurance or pay a penalty on your taxes, unless you qualify for one of these penalty exemptions: You spent 330 days or more outside U.S. in 2018 You were a resident of foreign country or U.S. territory in 2018 You were not a U.S. resident in 2018 You’re a member of a health care sharing ministry in 2018 You’re an Indian tribe member or eligible for Indian health care You spent time in jail during 2018 After you complete the Health Insurance section, if you or anyone on your tax return wasn't insured, we’ll check to see if they&nbsp;can get a health insurance exemption. If so, we’ll waive the tax penalty. Related Information: Can I get a health insurance penalty exemption for 2019? What health care penalty exemptions are there for financial hardships? How much is the Affordable Care Act penalty? Related Information: Can I get a health insurance penalty exemption for 2019? Mon, 31 Aug 2020 13:24:48 GMT https://ttlc.intuit.com/community/health-care/help/what-health-care-penalty-exemptions-can-you-claim-if-you-weren-t-required-to-get-insurance/01/26712#M190 TurboTax Help 2020-08-31T13:24:48Z https://ttlc.intuit.com/community/credits-and-deductions/help/if-a-parent-claims-me-as-a-dependent-can-i-claim-the-education-tax-credit/01/26863#M188 No. If someone claims you as a dependent on their tax return, only that person can claim a credit for your qualified education expenses. Related Information: Tue, 11 Aug 2020 02:55:43 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/if-a-parent-claims-me-as-a-dependent-can-i-claim-the-education-tax-credit/01/26863#M188 TurboTax Help 2020-08-11T02:55:43Z https://ttlc.intuit.com/community/credits-and-deductions/help/is-a-parsonage-or-housing-allowance-deductible/01/26276#M186 As a licensed, commissioned, or ordained minister, you may be able to deduct the fair market value of a home, a parsonage (in-kind housing), or a housing allowance. The deductible amount is the lowest of: The amount actually used to provide or rent a home; The fair market rental value of the home (including furnishings, utilities, garage, etc.); The amount officially designated (in advance of payment) as a rental or housing allowance; or An amount which represents reasonable pay for services. Bear in mind: A clergy person is not allowed the special housing allowance if the church has not previously designated an amount in writing. The church must have this in writing before you can use it. The housing allowance payments must be used in the year received and any allowance that exceeds actual housing expenses counts as income. Although the excludable portion of clergy housing isn't subject to federal income tax, you'll still have to pay self-employment taxes on it. Related Information: How do I enter a parsonage or housing allowance on a 1099-R? How do I enter a parsonage or housing allowance reported on a W-2? Is my clergy income subject to the self-employment tax? How do I enter a parsonage or housing allowance if I got a 1099-MISC? Related Information: How do I enter a parson... Mon, 07 Sep 2020 12:51:45 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/is-a-parsonage-or-housing-allowance-deductible/01/26276#M186 TurboTax Help 2020-09-07T12:51:45Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-my-standard-deduction/01/26370#M185 The standard deduction is a fixed dollar amount that reduces the amount of income you get taxed on. Think of it as tax-free income that you get to keep before taxes are applied to the rest. The Tax Cuts and Jobs Act that was signed into law in late 2017 substantially increased the standard deduction for tax years 2018 through 2025. Select your filing status below to&nbsp;get your 2019 standard deduction amount. Please note that if someone else claims you (or your spouse, if you're filing jointly) as their&nbsp;dependent, your standard deduction will be less than the amounts shown below. Single Your standard deduction starts at $12,200. Add $1,650 if you were born before January 2, 1955. Add $1,650 if you were blind as of December 31, 2019. Example: Single filer Joe, who was born in 1972 and has been blind since birth, gets a standard deduction of $12,200 + $1,650 = $13,850. Married Filing Jointly or Qualified Widow(er) with Dependent Child Your standard deduction starts at $24,400. Add $1,300 if you were born before January 2, 1955. Add $1,300 if your jointly-filing spouse was born before January 2, 1955. Add $1,300 if you were blind as of December 31, 2019. Add $1,300 if your jointly-filing spouse was blind as of December 31, 2019. Example: Joint filers Pat and Tracy, who were both bor... Tue, 08 Sep 2020 18:49:32 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-my-standard-deduction/01/26370#M185 TurboTax Help 2020-09-08T18:49:32Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-work-related-education-expenses/01/25826#M183 Work-related education expenses for employees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. In 2017 and prior tax years, unreimbursed expenses for education that maintained or improved employee job skills or was required by the employer may have been partially deductible as a miscellaneous deduction subject to the 2% rule. On the other hand, if you’re self-employed, you can deduct education expenses as long as the education maintains or improves skills required by your current line of work, or is mandated by law or industry regulations (for example, if you’re required to take X hours of continuing education every year to keep your license). But if the education only allows you to meet the minimum requirements of your present trade or business, or qualifies you for a new line of work, you cannot deduct the cost. Related Information: What is the 2% rule? Related Information: Which federal tax deductions have been suspended by tax reform? Mon, 07 Sep 2020 12:38:15 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-work-related-education-expenses/01/25826#M183 TurboTax Help 2020-09-07T12:38:15Z https://ttlc.intuit.com/community/charitable-contributions/help/excess-charitable-contributions/01/25825#M182 There's a limit on how much you can deduct. The basic rule is that your cash contributions to public charities, colleges and religious groups can't exceed 60% of your adjusted gross income, or AGI. Sometimes a lower limit of 30% or even 20% is applied based on the type of organization or type of donation. When you go over the limit, you’re allowed to carry the excess forward for up to five years. We automatically carry over excess contributions to next year's return for you. Related Information: Can I deduct an in-kind charitable contribution? Can I deduct donations to charity? Are nonprofits considered qualified charitable organizations? Is volunteer work deductible? Can employees deduct commuting expenses like gas, mileage, fares, and tolls? Mon, 07 Sep 2020 12:38:13 GMT https://ttlc.intuit.com/community/charitable-contributions/help/excess-charitable-contributions/01/25825#M182 TurboTax Help 2020-09-07T12:38:13Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-premium-tax-credit/01/26423#M181 The Premium Tax Credit is a tax credit to help make health coverage more affordable when you purchase health insurance from Healthcare.gov or a state Marketplace. You qualify for the credit if: Your health insurance plan is purchased through Healthcare.gov or a state Marketplace Your household income falls between 100% and 400% of the federal poverty level for your household size You don't file as Married Filing Separately (with exceptions for victims of domestic abuse and spousal abandonment) You can't be claimed as a dependent by another person If you qualify, you can either take your tax credit as a monthly subsidy to help pay for your insurance costs or claim the entire credit when you file your tax return. Regardless of which choice you made, when you enter the information from your 1095-A we’ll calculate your Premium Tax Credit and prepare Form 8962 for you to file with your tax return. Related Information: Should I take the Premium Tax Credit in advance as a monthly subsidy? Mon, 10 Aug 2020 22:00:35 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-premium-tax-credit/01/26423#M181 TurboTax Help 2020-08-10T22:00:35Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-american-opportunity-tax-credit-and-which-ones-do-not/01/26847#M180 The following expenses qualify for the American Opportunity Tax Credit: Expenses paid for yourself, spouse, or dependent on your return Qualified education expenses that are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution Student-activity fees, but only if the fees are paid to institutions as a condition of enrollment Expenses paid for books, supplies, and equipment needed for a course of study, whether or not purchased from the educational institution The following expenses don't qualify for the American Opportunity Tax Credit: Insurance Medical expenses (including student health fees) Room and board Transportation or similar personal, living, or family expenses This is the case even if these expenses are paid to the institution as a condition of enrollment or attendance. Related Information: What education tax credits are available? Who is eligible to take the American Opportunity Tax Credit? Who is eligible for the Lifetime Learning Credit? What expenses qualify for the Lifetime Learning Credit? Tue, 11 Aug 2020 02:41:51 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-american-opportunity-tax-credit-and-which-ones-do-not/01/26847#M180 TurboTax Help 2020-08-11T02:41:51Z https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-for-the-lifetime-learning-credit/01/26846#M179 One of the advantages of the Lifetime Learning Credit is that you can take the credit every year for higher education, as long as you meet all of these qualifying requirements: You, your dependent, or a third party paid qualified education expenses for higher education. The qualified education expenses were for an eligible student. The eligible student is you, your spouse, or a dependent on your tax return. For the full credit, your MAGI (modified adjusted gross income) is less than $58,000 ($116,000 if you are filing jointly). For a reduced credit, your MAGI is between $58,000 and $68,000 ($116,000 and $136,000 if you're filing jointly). Related Information: What education tax credits are available? Who is eligible to take the American Opportunity Tax Credit? What expenses qualify for the American Opportunity Tax Credit? What expenses qualify for the Lifetime Learning Credit? Sat, 12 Sep 2020 00:40:17 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-for-the-lifetime-learning-credit/01/26846#M179 TurboTax Help 2020-09-12T00:40:17Z https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-to-take-the-american-opportunity-tax-credit/01/26845#M178 Qualifications for claiming the American Opportunity Tax Credit are: You paid an eligible student's&nbsp;qualified education expenses for higher education at any college, university, or vocational school with a student aid program administered by the US Department of Education. The eligible student is you, your spouse, or a dependent on your return. For the full credit, your MAGI (modified adjusted gross income) is less than $90,000 ($180,000 if you're filing jointly). For a reduced credit, your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you're filing jointly). An eligible student is defined as a student who: Is enrolled at least half-time in a program leading to a degree, certificate, or other recognized credential. Had at least one academic period beginning during the year. Didn't claim the American Opportunity Tax Credit for more than three previous years. Didn't complete the first four years of post-secondary education before the beginning of the year. The American Opportunity Tax Credit cannot be claimed on Married Filing Separately returns nor under any of these conditions: The student is a dependent on someone else's return. The student is a nonresident alien (unless the student's spouse is a resident and they file a joint return treating both as residents... Tue, 11 Aug 2020 02:41:45 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-to-take-the-american-opportunity-tax-credit/01/26845#M178 TurboTax Help 2020-08-11T02:41:45Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/01/26844#M177 Generally, if you paid for qualified education expenses for an academic period beginning in any tax year or in the first three months of the next year, then you're allowed to take the Lifetime Learning Credit. Qualified expenses are tuition and certain related expenses required for enrollment at an eligible institution. The course must be either part of a post-secondary degree program or taken by the student to acquire or improve job skills. Student activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses are paid to the institution as a condition of enrollment or attendance. The maximum Lifetime Learning Credit you can claim in a year is 20% of the first $10,000 of qualified education expenses you paid for all eligible students (or up to $2,000). The credit is reduced (phased out) if your modified adjusted gross income (MAGI) is between $57,000 and $67,000 ($114,000 to $134,000 if married filing jointly). Since this isn't a refundable credit, the credit can't be more than your tax liability. Related Information: What education tax credits are available? Who is eligible to take the American Opportunity Tax Credit? What expenses qualify for the American Opportunity Tax Credit? Who is ... Tue, 11 Aug 2020 02:41:04 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/01/26844#M177 TurboTax Help 2020-08-11T02:41:04Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-job-search-expenses/01/25704#M176 Job-search expenses are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. In 2017 and prior tax years, expenses that were directly and exclusively related to your job search may have been partially deductible. The search must have been for a job in your current occupation and the expenses were subject to the 2% limitation, which means they could only be partially deducted, if at all. Related Information: Which federal tax deductions have been suspended by tax reform? Mon, 10 Aug 2020 13:44:49 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-job-search-expenses/01/25704#M176 TurboTax Help 2020-08-10T13:44:49Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-home-improvements-on-my-tax-return/01/26028#M175 On your personal residence, the answer is usually no, although you might qualify for certain kinds of energy-related home improvements. Home improvements may come into play when you sell your home because they're included in your home's adjusted cost basis. The bigger your basis, the smaller your capital gain, and that means less tax if your home sale profit exceeds $250,000 ($500,000 if you're filing jointly). Read more about the tax implications of home sales. To qualify as a tax deduction, the home improvement must: Add materially to the value of your home; or Prolong your home's useful life significantly; or Adapt your home to new uses For most people, home improvements—even major ones—won't help their taxes after the home is sold. Nevertheless, it's always a good idea to keep track of what you paid in home improvements over the years, not just for potential tax savings, but also to help justify your selling price. Related Information: Can I claim energy-efficient appliances or energy-saving home improvements? Is the money I made from a home sale taxable? Are home repairs or maintenance costs deductible? How do I handle capital improvements and depreciation for my rental? Mon, 10 Aug 2020 17:21:49 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-home-improvements-on-my-tax-return/01/26028#M175 TurboTax Help 2020-08-10T17:21:49Z https://ttlc.intuit.com/community/credits-and-deductions/help/are-long-term-care-expenses-deductible/01/26026#M174 Expenses paid for qualified long-term care are deductible when they're required by a chronically ill individual needing assistance with daily living activities or are prescribed by a licensed health care provider. Fees paid for household services generally are excluded. The expense must be for you, your spouse, or a dependent or qualifying person. Wed, 26 Aug 2020 21:52:38 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/are-long-term-care-expenses-deductible/01/26026#M174 TurboTax Help 2020-08-26T21:52:38Z https://ttlc.intuit.com/community/college-and-education/help/what-s-the-income-limit-for-education-expenses/01/26022#M173 To qualify for the American Opportunity Credit, your modified adjusted gross income (MAGI) cannot exceed $90,000 for Single or Head of Household filers ($180,000 if Married Filing Jointly). For the Lifetime Learning Credit, your 2019 MAGI, cannot exceed $68,000 for Single or Head of Household filers ($136,000 if Married Filing Jointly). Related Information: What are qualified education expenses for the American Opportunity and Lifetime Learning credits? What is the Tuition and Fees Deduction? Can I deduct education expenses that were paid with student loans? Where do I enter a scholarship, fellowship, grant, or other financial aid I received? What are examples of education expenses? Mon, 07 Sep 2020 12:44:48 GMT https://ttlc.intuit.com/community/college-and-education/help/what-s-the-income-limit-for-education-expenses/01/26022#M173 TurboTax Help 2020-09-07T12:44:48Z https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-at-a-loss-is-this-deductible/01/26020#M172 You can't deduct a loss on the sale of your main home or a vacation home. This is considered a personal loss and isn't deductible for tax purposes. On the other hand, if you used the home as a rental property or it was an investment property, then you may be able to deduct the loss. TurboTax will help you figure out if you qualify for a deduction. Wed, 26 Aug 2020 18:57:32 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-at-a-loss-is-this-deductible/01/26020#M172 TurboTax Help 2020-08-26T18:57:32Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-get-a-refund-for-excess-social-security-tax-withheld/01/25710#M171 Yes, you can get excess Social Security tax refunded. The procedure depends on whether the excess withholdings were caused by multiple employers exceeding the maximum or too much being withheld by a single employer. Select your situation for more info. Multiple employers For tax year 2019, you'll have excess Social Security withholdings if the sum of multiple employers' withholdings exceeds $8,239.80 per taxpayer. You don't need to take any action. We'll automatically add the excess to your federal refund or subtract it from federal taxes you owe, whichever applies. The excess will appear as a tax credit on Line 11 of your Form 1040, Schedule 3. Single employer Your employer is supposed to withhold 6.2% of your Social Security Wages (the Box 3 amount on your W-2), up to a maximum of $8,239.80 per taxpayer for tax year 2019. If one employer withheld too much Social Security tax, you won't be able to take a credit for the excess on your tax return. (TurboTax determines this by looking at your employer's EIN. In unusual cases where the employer changed their EIN during the tax year, an excess withholding credit can be taken as explained in "Multiple employers," above.) So, if your employer withheld too much, contact them and ask for: A refund for the excess amount, and A correcte... Mon, 07 Sep 2020 12:36:38 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-get-a-refund-for-excess-social-security-tax-withheld/01/25710#M171 TurboTax Help 2020-09-07T12:36:38Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-moving-expenses-if-i-moved-twice-for-work/01/26341#M170 For most taxpayers, moving expenses are no longer a federal deduction for tax years 2018 through 2025 due to the Tax Cuts and Jobs Act of 2017. Only active-duty military members ordered to move as the result of a permanent change of station (PCS) can deduct moving expenses in tax years 2018 – 2025. More info However, if you live in Arizona, Arkansas, California, Hawaii, Iowa, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania, or Virginia, moving expenses are still an allowable deduction on your state return whether you're active-duty military or not. Enter your moving expenses in the federal return, and we'll carry them to your state return and calculate your deduction. Related Information: Can I deduct my moving expenses? Can employees deduct any job-related expenses? Can I claim tax prep fees as a deduction? Can employees deduct commuting expenses like gas, mileage, fares, and tolls? What kinds of medical expenses are deductible? Mon, 07 Sep 2020 12:55:21 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-moving-expenses-if-i-moved-twice-for-work/01/26341#M170 TurboTax Help 2020-09-07T12:55:21Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-sales-tax-payments-can-i-claim-on-my-federal-taxes/01/26966#M169 If you're itemizing, you get to choose between deducting your&nbsp;state and local income taxes or your&nbsp;state sales taxes. You can't claim both and you can't claim either one if you're taking the Standard Deduction. If you go with the sales tax deduction, you can claim the sales taxes you paid on just about anything you bought, whether it was purchased online or locally, in-state or out-of-state, big or small. However, for tax years 2018 through 2025, the SALT deduction (which includes sales tax) is capped at $10,000. That means if the combined total of your sales tax, real estate tax, and personal property tax amounts to $15,000, you can only deduct $10,000 maximum. Related Information: Where do I enter my sales taxes paid? Which deduction should I choose, state and local income tax or sales tax? Tue, 11 Aug 2020 03:44:52 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-sales-tax-payments-can-i-claim-on-my-federal-taxes/01/26966#M169 TurboTax Help 2020-08-11T03:44:52Z https://ttlc.intuit.com/community/health-care/help/do-i-need-to-report-medical-expense-reimbursements/01/26018#M167 If the expense and reimbursement both happened in 2019, then yes. You can either subtract the reimbursement from the expenses you originally paid and enter the new expense amount, or enter it after you've finished entering all of your medical expenses. Either way, the reimbursement simply reduces your medical expense deduction by that amount. If you got a 2019 reimbursement for medical expenses you paid in 2018 or a prior year, include the reimbursement or&nbsp;the amount of the medical deduction you got in the prior year (whichever is less)&nbsp;on your 2019 taxes. Example:&nbsp;Last year, John had unusually large medical bills and was able to take the itemized deduction. He got a $1,200 medical expense deduction as a result. In 2019, he got reimbursed $800 from his insurance company. John would report the lesser amount ($800) as a miscellaneous other income item. If you weren't able to get a deduction for the medical expense (usually because you took the standard deduction in that prior year), then don't mention the reimbursement on this year's return. For more information, see Where do I enter my medical expenses? Related Information: Can I deduct a previous year's medical expenses on this year's taxes? Where do I enter my medical expenses? Am I allowed to deduct medical expenses I haven'... Mon, 07 Sep 2020 12:44:43 GMT https://ttlc.intuit.com/community/health-care/help/do-i-need-to-report-medical-expense-reimbursements/01/26018#M167 TurboTax Help 2020-09-07T12:44:43Z https://ttlc.intuit.com/community/home-ownership/help/can-i-deduct-mortgage-interest-on-a-second-home/01/25849#M166 You can deduct mortgage interest on a second home as an itemized deduction if it meets all the requirements for deducting mortgage interest. If you rent out your second home, you must also use it as a home during the year. You must use it more than 14 days or more than 10% of the total days it is rented out, whichever is longer. If you don't use the home long enough, it's considered a rental property. You can then deduct the mortgage interest as a rental expense. Mortgage interest can only be claimed on a maximum of two homes (main home and a second home). Related Information: Where do I enter my 1098 mortgage interest statement? Can I deduct interest on a home equity loan or a HELOC? Why didn't my mortgage or property taxes increase my refund? Can I deduct mortgage points? What if I don't have a 1098 mortgage interest statement? Mon, 07 Sep 2020 12:41:45 GMT https://ttlc.intuit.com/community/home-ownership/help/can-i-deduct-mortgage-interest-on-a-second-home/01/25849#M166 TurboTax Help 2020-09-07T12:41:45Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-and-where-does-itsdeductible-obtain-its-values/01/26015#M165 When you donate an item to charity, the IRS lets you to deduct the fair market value of the item at the time of the donation. The IRS defines fair market value as the sale price between a willing buyer and seller, where neither is required to buy or sell and both have relevant knowledge of the facts. To determine the fair market value of a particular item, one method recommended by the IRS is to check the price of similar-selling items from a variety of sources – and that's exactly what ItsDeductible does. How does ItsDeductible determine the fair market value? Every day, we're collecting info from thousands of completed eBay auctions to capture valuations that are not commonly found in thrift, consignment, or specialty stores. We then perform a statistical analysis to determine the fair market value of the item, which in turn gets translated to a high, medium, or low value. In addition, we also collect pricing information through manual processes, for example surveying thrift and consignment stores across the country. This combo of electronic and manual price-collection allows us to create a comprehensive, up-to-date collection of values based on real-world transactions that comply with IRS guidelines. What about the Goodwill and Salvation Army valuation guidelines? Using val... Mon, 10 Aug 2020 17:13:55 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-and-where-does-itsdeductible-obtain-its-values/01/26015#M165 TurboTax Help 2020-08-10T17:13:55Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mileage/01/26179#M164 Mileage is an allowable deduction if you’re self-employed or own your own business. You can choose between the standard mileage rate or the actual cost method where you keep track of what you paid for gas and maintenance. To use the standard mileage rate, you must keep a log of each trip with miles driven during the first year your vehicle is used for business. After that, you can either go with standard mileage or actual cost (unless you lease, in which case you must stick with standard mileage for the duration of the lease). Taxpayers can also claim mileage for medical or charitable purposes, and active-duty military can claim mileage for the move to a permanent change of station (PCS) under military orders. Employees can no longer deduct work-related mileage in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Prior to the tax law change, employees could deduct mileage for commuting between multiple job sites during the same day, as well as commutes to temporary work locations and offsite business meetings. Related Information: What are the standard mileage rates? Can I deduct medical mileage and travel? Can employees deduct commuting expenses like gas, mileage, fares, and tolls? Can I deduct my moving ex... Mon, 10 Aug 2020 19:12:40 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mileage/01/26179#M164 TurboTax Help 2020-08-10T19:12:40Z https://ttlc.intuit.com/community/credits-and-deductions/help/why-is-my-child-tax-credit-smaller-than-last-year-s/01/26758#M162 If your 2019 Child Tax Credit is less&nbsp;than your 2018 credit, it's probably because one or more children celebrated their 17th birthday in 2019. Other, less common reasons your 2019 Child Tax Credit is less than your 2018 credit include: One or more children lived with you for less than half the year in 2019 but lived with you for half the year (or more) in 2018. One or more children paid more than half of their own expenses in 2019, but didn't in 2018. Your 2019 AGI increased to $400,000 or more (joint filers) or $200,000 or more (all others). See the qualifications for the&nbsp;Child Tax Credit and the Credit for Other Dependents. Related Information: Why can't I claim any Child Tax Credit this year? What is the Child Tax Credit? What is the Additional Child Tax Credit? Why don't I qualify for EIC? Why is my 2019 Child Tax Credit smaller than last year's? Related Information: Why can't I claim any Child Tax Credit this year? What is the $500 Credit for Other Dependents (“Family Tax Credit”)? Mon, 07 Sep 2020 13:04:56 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/why-is-my-child-tax-credit-smaller-than-last-year-s/01/26758#M162 TurboTax Help 2020-09-07T13:04:56Z https://ttlc.intuit.com/community/credits-and-deductions/help/is-canceled-forgiven-or-discharged-debt-taxable/01/25790#M161 Most likely. Canceled, forgiven, or discharged debt is considered taxable income unless it qualifies for either an exclusion or an exception. Debt that qualifies for an exclusion Cancelation of qualified principal residence indebtedness (aka&nbsp;mortgage debt relief). In this scenario, TurboTax will complete Form 982 and include it with your return. Debt canceled under Title 11 bankruptcies* Debt (the amount exceeding your assets) canceled during insolvency* Cancelation of qualified farm or real property indebtedness* *You can report this type of excludable debt in the TurboTax CD/Download software; it's not supported in TurboTax Online or the mobile app. Due to the complexity of this topic, we recommend consulting a tax professional. Also see IRS Publication 4681 for more info. Debt that qualifies for an exception Certain qualified student loans Money excluded from income by law, such as gifts or bequests Canceled debt that if paid by a cash-basis taxpayer would otherwise be deductible A qualified purchase price reduction given by a seller Any Pay-for-Performance Success Payments that reduce the principal balance of your mortgage under the Home Affordable Modification Program Normally debt is reported on Form 1099-C. However, if you get a&nbsp;1099-C for debt that a creditor is still ... Mon, 10 Aug 2020 14:32:50 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/is-canceled-forgiven-or-discharged-debt-taxable/01/25790#M161 TurboTax Help 2020-08-10T14:32:50Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-travel-expenses/01/25792#M160 If you’re self-employed or own a business, you can deduct work-related travel expenses, including vehicles, airfare, lodging, and meals. The expenses must be ordinary and necessary. For vehicle expenses, you can choose between the standard mileage rate or the actual cost method where you track what you paid for gas and maintenance. You can claim 50% of the cost of your meals while on business-related travel away from your tax home, provided your trip requires an overnight stay. You can also deduct 50% of the cost of meals for entertaining clients (regardless of location), but due to the Tax Cuts and Jobs Act of (TCJA), you can no longer deduct entertainment expenses in tax years 2018 through 2025. On the other hand, employees can no longer deduct out-of-pocket travel costs in tax years 2018 through 2025 per the TCJA. Prior to the tax rule change, employees could claim 50% of the cost of unreimbursed meals while on business-related travel away from their tax home if the trip required an overnight stay, as well as other unreimbursed job-related travel costs. These expenses were handled as a 2% miscellaneous itemized deduction. Related Information: What is the 2% rule? Which federal tax deductions have been suspended by tax reform? What types of meal and entertainment expenses ar... Mon, 07 Sep 2020 12:37:49 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-travel-expenses/01/25792#M160 TurboTax Help 2020-09-07T12:37:49Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-schedule-a/01/26167#M159 The IRS lets you take either the Standard Deduction&nbsp;or the itemized deduction. If you itemize, we'll automatically fill out Schedule A, Itemized Deductions and switch you over to the 1040 long form. Schedule A lets you report certain deductible expenses like: Medical and dental costs above and beyond 7.5% of your AGI State, local, real estate, and personal property taxes Home mortgage interest Charitable donations and gifts Casualty losses (losses caused by a sudden, unexpected, or unusual event) to personal property are only deductible if covered by specific federal disaster declarations. After you finish going through the Deductions &amp; Credits section, we'll recommend whichever deduction – standard or itemized – gives you the biggest tax break. But you can always override our recommendation if you wish. Schedule A is supported in the paid versions of TurboTax. Related Information: How does the Standard Deduction differ from itemizing deductions? How do I change from the standard deduction to itemized (or vice-versa)? What's my standard deduction for 2019? Can I still itemize my deductions? Did I itemize last year? Related Information: How does the Standard Deduction differ from itemizing deductions? Can I still itemize my deductions? How do I change from the standard deductio... Mon, 07 Sep 2020 12:50:20 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-schedule-a/01/26167#M159 TurboTax Help 2020-09-07T12:50:20Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-union-dues/01/26166#M158 If you’re self-employed, you can deduct union dues as a business expense. However, most employees can no longer deduct union dues on their federal tax return in tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. However, the job-related expenses deduction is still available to people who work in one of these specific professions or situations: Armed Forces reservist Qualified performing artist Fee-basis state or local government official You're disabled and have impairment-related expenses Additionally, job-related expenses may be deductible in your state. Enter your expenses and we’ll figure out if you can deduct them. Mon, 10 Aug 2020 19:05:51 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-union-dues/01/26166#M158 TurboTax Help 2020-08-10T19:05:51Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-energy-efficient-appliances-or-energy-saving-home-improvements/01/25788#M157 You can't claim Energy Star appliances or water-saving improvements like low-flow toilets, low-flow shower-heads, or xeriscaping on your federal return. However, many state and local governments and utility companies offer incentives or rebates for energy- or water-saving home improvements. An online search will reveal what your state has to offer (for example, you might search for&nbsp;Arizona toilet rebate or California water saving incentives). Under the Residential Energy Efficient Property Credit, you can get a federal tax credit for installing alternative energy equipment, such as solar electric property, solar water heaters, geothermal heat pumps, small wind turbines, and fuel cell property. If you made energy efficient improvements to your home like energy-saving roofs, windows, skylights, and doors, you'll be able to claim the Nonbusiness Energy Property Credit for 10% of amounts paid for qualified energy efficiency improvements, up to a lifetime cap of $500 or fixed dollar amounts ranging from $50 to $300 for energy efficient property, including furnaces, boilers, biomass stoves, heat pumps, water heaters, central air conditioners, and circulating fans. Related Information: Where do I enter qualified energy-saving improvements? Can I deduct home improvements on my tax ret... Mon, 07 Sep 2020 12:37:45 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-energy-efficient-appliances-or-energy-saving-home-improvements/01/25788#M157 TurboTax Help 2020-09-07T12:37:45Z https://ttlc.intuit.com/community/credits-and-deductions/help/does-turbotax-support-the-idaho-grocery-credit/01/25921#M156 Yes. When you prepare your Idaho return in TurboTax, look for the Grocery Credit screen. Follow the instructions to claim the credit. The credit is reported on Form 40 (or Form 24, if you or your spouse is 65 or older). More information about the grocery credit is available at the Idaho State Tax Commission's website. Related Information: What forms of payment does TurboTax Online accept? Mon, 07 Sep 2020 12:43:03 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/does-turbotax-support-the-idaho-grocery-credit/01/25921#M156 TurboTax Help 2020-09-07T12:43:03Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-standard-mileage-rates/01/26162#M155 The standard mileage rates are: &nbsp;Miles Driven for: &nbsp; &nbsp;&nbsp;2019 rate (cents per mile) &nbsp; &nbsp; 2018 rate (cents per mile) Business &nbsp;58 &nbsp;54.5 Medical or Moving 20 &nbsp;18 Charitable purposes &nbsp;14 &nbsp;14 To take the standard mileage deduction for business, you can't: Operate more than four vehicles at the same time, as in a fleet operation Claim a depreciation deduction on the car (other than the straight-line method) Claim a Section 179 deduction on the car Claim a special depreciation allowance on the car Have claimed actual expenses after 1997 for a leased car Be a rural mail carrier who received a "qualified reimbursement" To use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. Then, in later years, you can choose to use the standard mileage rate or actual expenses. For a car you lease, you must use the standard mileage rate method for the entire lease period (including renewals) if you choose the standard mileage rate. Related Information: Can I deduct mileage? Mon, 10 Aug 2020 18:59:49 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-standard-mileage-rates/01/26162#M155 TurboTax Help 2020-08-10T18:59:49Z https://ttlc.intuit.com/community/credits-and-deductions/help/i-refinanced-my-home-what-can-i-deduct/01/27091#M154 You may be able to&nbsp;deduct: Mortgage interest Points Real estate/property taxes You'll receive two 1098 forms. Enter both of them (first the one from your original loan, then the one from your refinance), but don't add them together. We'll need to know which loan was paid off. When you get to that screen be sure to indicate that it was paid off. You may also be able to deduct some items on your closing statement so have it handy. Don't worry, we'll help you enter the information as you go. If your mortgage was transferred from one company to another, you'll also receive two 1098 forms. This is pretty common and isn't considered refinancing. You're still paying off your original mortgage, even if it's now held by a different company. If you didn't get a new loan, then you haven't refinanced. Related Information: Where do I enter my 1098 mortgage interest statement? Where do I enter my real estate (property) taxes in TurboTax Online? How do I handle multiple 1098 mortgage forms? Thu, 27 Aug 2020 00:46:38 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/i-refinanced-my-home-what-can-i-deduct/01/27091#M154 TurboTax Help 2020-08-27T00:46:38Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-student-loan/01/26158#M153 You can't claim the loan itself, but the interest you paid during the year on a qualified student loan used to pay for tuition, fees, room and board, books and supplies for yourself, your spouse, or your dependent is deductible. This includes both required and voluntarily pre-paid interest payments. Student loan interest is reported on&nbsp;Form 1098-E. If you paid interest of $600 or more on a qualified student loan during the year, you'll receive this form from your lender. Here's how to enter your student loan interest in TurboTax. We'll ask you questions to make sure you qualify, and also calculate how much of a deduction you’re entitled to. You claim this deduction as an adjustment to income, so you don't need to itemize your deductions. How much can I deduct? You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status. Qualifications: You can claim the deduction if all of the following apply: You paid interest on a qualified student loan in tax year 2019. You can take the deduction as a student, or as a parent making payments on your dependent student’s loan. However... Mon, 07 Sep 2020 12:50:12 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-student-loan/01/26158#M153 TurboTax Help 2020-09-07T12:50:12Z https://ttlc.intuit.com/community/charitable-contributions/help/are-charitable-donations-made-to-an-organization-located-in-a-foreign-country-tax-deductible/01/25841#M152 Foreign donations aren't deductible unless they're either: Made to a U.S. organization that transfers funds to a foreign organization but retains control of their use (or the foreign organization is part of the U.S. organization) Made to some Canadian, Israeli, or Mexican charitable organizations (but only if you also have income from that country) Related Information: Where do I enter the foreign tax credit (Form 1116) or deduction for 2019? What does or doesn't qualify for the Foreign Tax Credit? Why doesn't the foreign tax credit show up on Schedule 3, Line 48 of my 1040? Can I claim energy-efficient appliances or energy-saving home improvements? Can employees deduct any job-related expenses? Mon, 07 Sep 2020 12:38:27 GMT https://ttlc.intuit.com/community/charitable-contributions/help/are-charitable-donations-made-to-an-organization-located-in-a-foreign-country-tax-deductible/01/25841#M152 TurboTax Help 2020-09-07T12:38:27Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-plug-in-electric-drive-motor-vehicle-credit/01/25840#M151 Reported on Form 8936, the Plug-In Electric Drive Motor Vehicle Credit applies to certain manufactured electric or plug-in hybrid electric vehicles which draw electricity from a battery recharged from an external source of electricity. The credit ranges from $2,500 to $7,500, depending on battery capacity and weight. &nbsp; Mon, 10 Aug 2020 15:07:43 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-plug-in-electric-drive-motor-vehicle-credit/01/25840#M151 TurboTax Help 2020-08-10T15:07:43Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-medical-dental-and-vision-expenses/01/25918#M149 To deduct unreimbursed, out-of-pocket medical, dental, and vision costs on your federal return: You must take the itemized deduction; The expenses for you, your jointly-filing spouse, and your dependent(s) must exceed 7.5% of your AGI (adjusted gross income); and Only the portion above and beyond 7.5% of your AGI is deductible. For example, if your AGI happens to be $100,000, you can deduct the portion of your expenses exceeding 7.5% of your AGI ($7,500). If your total expenses for the year came in at $6,000, you wouldn't be able to deduct any of it, but if they were $10,000 you could deduct the portion over and beyond $7,500, which would be $2,500 – provided you're itemizing of course. That said, go ahead and enter all of your out-of-pocket expenses, even if you don't think they qualify as a deduction. Some states will let you&nbsp;deduct them on your state return even if you couldn't deduct them on your federal return. We'll figure that out for you. Related Information: What kinds of medical expenses are deductible? Can I deduct health insurance premiums taken from my paycheck? Can I deduct medical costs paid with HSA or MSA funds? Can I deduct Medicare premiums? Am I allowed to deduct medical expenses I haven't paid for yet? Where do I enter my medical expenses? Thu, 13 Aug 2020 06:58:11 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-medical-dental-and-vision-expenses/01/25918#M149 TurboTax Help 2020-08-13T06:58:11Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes/01/25796#M148 Real estate taxes (also called "property taxes") for your main home,&nbsp;vacation home, or land are an allowable deduction if they're based on the assessed value of the property and the property is for your own personal use. Whether you'll actually get a deduction on your taxes is another story, as several changes enacted by tax reform have impacted this deduction. For one, you won't be able to deduct your property taxes if you're taking the Standard Deduction. Even if you itemize, the SALT deduction, which includes property tax, is now capped at $10,000 ($5,000 for couples filing separately). This means taxpayers who live or own property in states with high property taxes may not be getting as big a deduction as they have in years past. That said, you should still enter your property taxes in TurboTax. We'll figure out what amount, if any, is deductible. Be sure to include property taxes paid at closing as well as the annual property tax paid to your assessor. Don't include: Taxes you paid on property you don't own Taxes for rental or business property (instead of entering them in the Deductions Credits section, you'll claim them as expenses when you get to the rental or business section) Taxes for local improvements, like streets or sidewalks School taxes,&nbsp;unless they are based ... Mon, 07 Sep 2020 12:37:52 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes/01/25796#M148 TurboTax Help 2020-09-07T12:37:52Z https://ttlc.intuit.com/community/credits-and-deductions/help/is-room-and-board-deductible/01/26154#M147 Generally, no. Room and board usually isn't considered a qualified education expense for the purpose of education credits. The one exception is if room and board was paid for with a Coverdell ESA or 529 plan distribution. In that case, the cost can be deducted from the taxable portion of the plan's distribution. Related Information: Can I deduct home improvements on my tax return? Is my clergy income subject to the self-employment tax? How do I enter a parsonage or housing allowance on a 1099-R? What can I deduct when refinancing rental property? How do I enter a parsonage or housing allowance reported on a W-2? Mon, 07 Sep 2020 12:50:06 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/is-room-and-board-deductible/01/26154#M147 TurboTax Help 2020-09-07T12:50:06Z https://ttlc.intuit.com/community/home-ownership/help/is-the-money-i-made-from-a-home-sale-taxable/01/25690#M146 Great news! You won't pay taxes on the first $250,000 (also known as a gain) you make from the sale of your home. If you file jointly, you won't&nbsp;pay taxes on the first $500,000. That income is free and clear as long as: You owned the home. It was your main home for two years or more within the five years leading up to the sale. You waited at least two years between selling your primary home and excluding your first $250,000 or $500,000 from taxes. In other words, you may buy and sell as many primary homes as you'd like, but you'll only get this tax benefit every two years. When you sell a second home, the tax situation is different. TurboTax will show you if your home sale is taxable. Open or continue your return in TurboTax. Search for home sale. Select the Jump to link in the search results. Answer Yes to Did you sell or have your home foreclosed in 2019? on the&nbsp;Sale of Your Main Home screen. Follow the instructions to enter your info. Related Information: I sold my home at a loss. Is this deductible? Can I claim property (real estate) taxes if I recently bought or sold my home? Where do I enter the sale of a second home, an inherited home, or land on my 2019 taxes? Mon, 10 Aug 2020 13:36:47 GMT https://ttlc.intuit.com/community/home-ownership/help/is-the-money-i-made-from-a-home-sale-taxable/01/25690#M146 TurboTax Help 2020-08-10T13:36:47Z https://ttlc.intuit.com/community/college-and-education/help/why-didn-t-i-get-a-credit-or-deduction-for-education-expenses/01/26936#M145 To get a credit for education expenses, you have to pay tuition or related costs for yourself, your spouse, or a dependent on your return. If you paid tuition or other education expenses for someone who's claimed on another person's return, you won't qualify. Here are other common reasons you might not qualify: You're filing your return as Married Filing Separately. Your adjusted gross income (AGI) is too high. American Opportunity Tax Credit AGI limit is $90,000 ($180,000 for joint returns). Lifetime Learning Credit AGI limit is $68,000 ($136,000 for joint returns). Your expenses were paid with tax-free scholarships, fellowships, grants, education savings account funds, tax-free savings bond interest, or employer-provided education assistance. Related Information: Who is eligible to take the American Opportunity Tax Credit? What expenses qualify for the American Opportunity Tax Credit? Who is eligible for the Lifetime Learning Credit? What expenses qualify for the Lifetime Learning Credit? What is the Tuition and Fees Deduction? Tue, 11 Aug 2020 03:30:48 GMT https://ttlc.intuit.com/community/college-and-education/help/why-didn-t-i-get-a-credit-or-deduction-for-education-expenses/01/26936#M145 TurboTax Help 2020-08-11T03:30:48Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-the-income-limit-for-the-american-opportunity-and-lifetime-learning-credits/01/26155#M144 To qualify for the American Opportunity Credit, your 2019 modified adjusted income or MAGI can't exceed $90,000 ($180,000 if filing jointly). For the Lifetime Learning Credit, your 2019 MAGI can't exceed $68,000 ($136,000 if filing jointly). Mon, 10 Aug 2020 18:52:52 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-the-income-limit-for-the-american-opportunity-and-lifetime-learning-credits/01/26155#M144 TurboTax Help 2020-08-10T18:52:52Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-to-charity/01/25689#M143 Yes, you can deduct charitable donations if you make them to qualified organizations and you itemize deductions. You're even allowed to deduct expenses directly related to charity work, such as mileage or parking. Keep your receipts or other documentation for all of your charitable donations with your tax records. You're not allowed to deduct cash or property given directly to another person, family, or group that isn't a qualified organization. The amount you can deduct is limited, depending on what you donate and the type of charity. &nbsp;We'll figure it out after you import your donations from ItsDeductible or manually enter them. If you can't deduct all of your donations this year, we'll see if the remainder can be carried forward to next year. Related Information: How do I enter my 2019 charitable donations in TurboTax? Do I need a receipt for my donation? What is a qualified charitable organization? Is volunteer work deductible? How does the Standard Deduction differ from itemizing deductions? Related Information: How does the Standard Deduction differ from itemizing deductions? Do I need a receipt for my donation? Is volunteer work deductible? What is a qualified charitable organization? Are nonprofits considered qualified charitable organizations? How do I enter my 2019 ch... Mon, 07 Sep 2020 12:36:21 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-to-charity/01/25689#M143 TurboTax Help 2020-09-07T12:36:21Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-both-the-health-coverage-tax-credit-and-the-premium-tax-credit/01/27013#M142 Yes, you can claim both, but not for simultaneous coverage over the same time frame. In other words, you can’t claim both the HCTC and the PTC for the same coverage during the same coverage months. If you were enrolled in Health Insurance Marketplace coverage, you must reconcile any advance payments of the PTC you received. Enter your 1095-A as it appears in the Health Insurance tab and don’t claim any months for HCTC when you were insured under a Marketplace plan. Related Information: What types of health insurance qualify for the Health Coverage Tax Credit? How do I claim the Health Coverage Tax Credit? How do I delete Form 8885, Health Coverage Tax Credit? What is the Health Coverage Tax Credit? Related Information: How do I claim the Health Coverage Tax Credit? What is the Health Coverage Tax Credit? What types of health insurance qualify for the Health Coverage Tax Credit? How do I delete Form 8885, Health Coverage Tax Credit? Mon, 07 Sep 2020 13:10:20 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-both-the-health-coverage-tax-credit-and-the-premium-tax-credit/01/27013#M142 TurboTax Help 2020-09-07T13:10:20Z https://ttlc.intuit.com/community/health-care/help/what-types-of-health-insurance-qualify-for-the-health-coverage-tax-credit/01/27014#M141 There are several types of health insurance that qualify you for the 2019 Health Coverage Tax Credit (HCTC). However, contributions by your employer or your spouse’s employer may limit your qualification. COBRA Group health plan available through the employment of your spouse Employee benefit plan funded by a voluntary employees’ beneficiary association (VEBA) Individual health insurance plan, not including coverage through a Health Insurance Marketplace State-qualified health plans established prior to January 1, 2014 Health insurance plans that don’t qualify for the credit: Health Insurance Marketplace coverage for 2019 Flexible spending or similar arrangements and any insurance that’s purchased separately and not paid for as a comprehensive package, like dental or vision plans For detailed eligibility information on qualified health insurance plans, follow this link. Related Information: What is the Health Coverage Tax Credit? Can I claim both the Health Coverage Tax Credit and the Premium Tax Credit? How do I claim the Health Coverage Tax Credit? How do I delete Form 8885, Health Coverage Tax Credit? Related Information: What is the Health Coverage Tax Credit? How do I claim the Health Coverage Tax Credit? Can I claim both the Health Coverage Tax Credit and the Premium Tax... Mon, 07 Sep 2020 13:10:22 GMT https://ttlc.intuit.com/community/health-care/help/what-types-of-health-insurance-qualify-for-the-health-coverage-tax-credit/01/27014#M141 TurboTax Help 2020-09-07T13:10:22Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-health-coverage-tax-credit/01/27015#M140 Sign in to your account and select Continue to pick up where you left off in your tax return. From the upper right menu, select&nbsp;and search for&nbsp;TAA. Select the Jump to&nbsp;link at the top of your search results. This will take you directly to the Health Coverage Tax Credit section. We’ll ask you some questions to determine if you qualify for the credit, and you’ll also enter the amount of your qualified health insurance premiums. You'll need to attach certain documents that prove you were eligible to claim the credit, that your 2019 health insurance plan was qualified, and that the premiums claimed for your 2019 coverage were paid. Required documentation reflecting that you were an eligible individual for the months claimed in 2019: For trade certified individuals demonstrating TAA, alternative TAA, or reemployment TAA eligibility—a copy of the official letter from the Department of Labor, your state workforce agency or employment office stating you are eligible for trade adjustment benefits For PBGC eligibility—a copy of the official letter from the PBGC stating you received a benefit paid by the PBGC or a copy of your Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, from the PBGC showing you received a benefit pai... Tue, 11 Aug 2020 04:12:48 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-health-coverage-tax-credit/01/27015#M140 TurboTax Help 2020-08-11T04:12:48Z https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-repay-the-2008-first-time-homebuyer-credit/01/25911#M139 If you took advantage of the 2008 First-Time Homebuyer Credit (which was actually an interest-free loan), you'll repay it in equal portions for 15 years,&nbsp;starting with your 2010 tax return. Your repayment is an additional tax that will either lower your refund or increase your tax bill through tax year 2025.&nbsp;If you got the full $7500 credit, the additional tax is $500 per year; otherwise, if you got less than that, your repayment is 6.66% of the total loan amount. To get to this section in TurboTax, search for homebuyer credit in your TurboTax program and select the Jump to&nbsp;link&nbsp;in the search results. Then, answer yes, enter the date your home was purchased, and follow the on-screen instructions. We'll calculate the tax and handle the rest. Related Information: How do I add or remove Form 5405 for the first-time homebuyer credit? What would cause me to have to repay the first-time homebuyer credit ahead of schedule? For the first-time homebuyer credit, how would the IRS know if I sold the home? Related Information: What would cause me to have to repay the first-time homebuyer credit ahead of schedule? For the first-time homebuyer credit, how would the IRS know if I sold the home? How do I add or remove Form 5405 for the first-time homebuyer credit? Mon, 07 Sep 2020 12:42:55 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-repay-the-2008-first-time-homebuyer-credit/01/25911#M139 TurboTax Help 2020-09-07T12:42:55Z https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-child-and-dependent-care-credit/01/25907#M138 The Child and Dependent Care Credit (not to be confused with the similar-sounding Child Tax Credit) can reduce your tax bill if you paid for a dependent's care so that you could work or look for work. To qualify for this credit, you must meet all of these criteria: You (and your spouse, if filing jointly) must have earned income. The earned income requirement for one spouse is waived if s/he was a full-time student or disabled (if they lived with your spouse for more than 6 months in 2019). You paid caregiving expenses so that you (and your spouse, if filing jointly) could work or look for work. The work/look for work requirement for one spouse is waived if s/he&nbsp;was a full-time student or disabled (if they lived with the other spouse for more than 6 months in 2019). You paid a caregiver&nbsp;to care for a Qualifying Person. The caregiver can't be: Your spouse Your dependent Your child if they were under 19 on the last day of 2019, even if not your dependent The parent of the Qualifying Person, if the Qualifying Person is your child under the age of 13 during 2019 You can't file with the Married Filing Separately filing status (except under certain circumstances). You must furnish the care provider's name, address, and (unless it's a tax-exempt organization) their SSN, ITIN, or EIN ... Mon, 10 Aug 2020 15:49:48 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-child-and-dependent-care-credit/01/25907#M138 TurboTax Help 2020-08-10T15:49:48Z https://ttlc.intuit.com/community/health-care/help/what-s-my-state-marketplace/01/26666#M137 Below is a list of the states with their own Health Insurance Marketplaces. If your state is not listed, use Healthcare.gov or call 800-318-2596. California: Covered California or call 800-300-1506 Colorado: Connect for Health Colorado or call 855-752-6749 Connecticut: Access Health CT or call 855-805-4325 District of Columbia: DC Health Link or call 855-532-5465 Idaho: Your Health Idaho or call 855-944-3246 Kentucky: kynect: Kentucky Health Benefit Exchange&nbsp;or call 855-459-6328 Maryland: Maryland Health Connection or call 855-642-8572 Massachusetts: Massachusetts Health Connector or call 877-623-6765 Minnesota: MNSure or call 855-366-7873 Nevada: Nevada Health Link&nbsp;or call 855-547-2927 New Mexico:&nbsp; BeWellNM or call 833-862-3935 New York State: NY State of Health or call 855-355-5777 Rhode Island: HealthSource RI&nbsp;or call 855-840-4774 Vermont: Vermont Health Connect or call 855-899-9600 Washington State: Washington Healthplanfinder or call 855-923-4633 Tue, 18 Aug 2020 14:53:20 GMT https://ttlc.intuit.com/community/health-care/help/what-s-my-state-marketplace/01/26666#M137 TurboTax Help 2020-08-18T14:53:20Z https://ttlc.intuit.com/community/health-care/help/what-is-the-health-coverage-tax-credit/01/27012#M136 The Health Coverage Tax Credit (HCTC) is a refundable tax credit that pays 72.5% of qualified health insurance premiums for eligible individuals and their families. If you qualify for HCTC, it’s claimed on Form 8885. To qualify for this credit, you must have received one of the following types of assistance: Eligible for the Trade Adjustment Assistance (TAA) program and received a Trade Readjustment Allowance or was entitled to receive TRA except you hadn’t exhausted your unemployment insurance Benefits under the Alternative Trade Adjustment Assistance (ATAA) program Benefits from the Reemployment Trade Adjustment Assistance (RTAA) program Pension benefit payments from the Pension Benefit Guarantee Corporation (PBGC) and be age 55 to 65 You are not eligible for the HCTC if you: Can be claimed as a dependent on another person’s federal income tax return Are enrolled in Medicare, Medicaid, the Children’s Health Insurance Program, or the Federal Employees Health Benefits Program or are eligible to receive benefits under the U.S. military health system (TRICARE) Related Information: What types of health insurance qualify for the Health Coverage Tax Credit? How do I claim the Health Coverage Tax Credit? Tue, 11 Aug 2020 04:11:45 GMT https://ttlc.intuit.com/community/health-care/help/what-is-the-health-coverage-tax-credit/01/27012#M136 TurboTax Help 2020-08-11T04:11:45Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes-on-my-rental/01/27182#M135 If you rent it out and don't live there yourself, you can claim property taxes on your rental as an expense against your rental income. However, if you're renting out a portion of your own home, you're eligible for a prorated deduction for the portion of the home you live in with the remainder written off as a rental expense. Either way, enter the property tax where you enter all your other rental expenses. If you also live there, we'll calculate your personal deduction based on the portion you live in. Don't enter your property tax again in the&nbsp;Deductions &amp; Credits&nbsp;section, as we've already taken care of that in the rental section. Related Information: Where do I enter income and expenses from a rental property? What kinds of rental property expenses can I deduct? Where do I enter my real estate (property) taxes in TurboTax Online? What can I deduct when refinancing rental property? Where can I find out how much property (real estate) tax I paid? Related Information: Where do I enter income and expenses from a rental property? What kinds of rental property expenses can I deduct? Mon, 07 Sep 2020 13:12:08 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes-on-my-rental/01/27182#M135 TurboTax Help 2020-09-07T13:12:08Z https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-tax-prep-fees-as-a-deduction/01/26321#M134 Unless you’re self-employed, tax preparation fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Self-employed taxpayers can still write off their tax prep fees as a business expense. Prior to 2018, taxpayers who weren’t self-employed were allowed to claim tax prep fees as a 2% miscellaneous deduction. However, few taxpayers were able to take advantage of this deduction due to the restrictive conditions of the 2% rule. Related Information: What did I pay last year for TurboTax? What is the 2% rule? Which federal tax deductions have been suspended by tax reform? Can employees deduct any job-related expenses? Related Information: What did I pay last year for TurboTax? Mon, 07 Sep 2020 12:52:27 GMT https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-tax-prep-fees-as-a-deduction/01/26321#M134 TurboTax Help 2020-09-07T12:52:27Z

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<title>Tax credits and deductions topics</title>

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https://ttlc.intuit.com/community/tax-credits-deductions/help/02/109

</link>

<link>...</link>

<description>Tax credits and deductions topics</description>

<pubDate>Mon, 14 Sep 2020 06:17:04 GMT</pubDate>

<dc:creator>109</dc:creator>

<dc:date>2020-09-14T06:17:04Z</dc:date>

<item>

<title>¿Qué es una exención personal?</title>

<link>

https://ttlc.intuit.com/community/tax-credits-deductions/help/qu%C3%A9-es-una-exenci%C3%B3n-personal/01/837763#M242

</link>

<link>...</link>

<description>

Una exención personal era un monto establecido que podías deducir por cada contribuyente y dependiente en tu declaración de impuestos de 2017 o de años anteriores. El importe de la exención en el año tributario 2017 era de $4,050 por persona, sujeto a una eliminación gradual para niveles altos de ingresos. La exención personal fue eliminada por la Ley de Empleos y Reducción de Impuestos (TCJA, por sus siglas en inglés). Para ayudar a compensar la pérdida de la exención, la TCJA aumentó el importe de la deducción estándar, duplicó el crédito tributario por hijos y creó un nuevo crédito de $500 por otros dependientes (también conocido como “crédito tributario familiar”). Related Information: ¿Qué deducciones de impuestos federales fueron suspendidas por la reforma tributaria?

</description>

<description>...</description>

<pubDate>Wed, 26 Feb 2020 01:00:22 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/tax-credits-deductions/help/qu%C3%A9-es-una-exenci%C3%B3n-personal/01/837763#M242

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-02-26T01:00:22Z</dc:date>

</item>

<item>...</item>

<item>

<title>

¿Puedo deducir impuestos sobre la propiedad (bienes raíces)?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/tax-credits-deductions/help/puedo-deducir-impuestos-sobre-la-propiedad-bienes-ra%C3%ADces/01/837761#M241

</link>

<link>...</link>

<description>

Los impuestos sobre bienes raíces (también denominados “impuestos sobre la propiedad”) que se gravan sobre tu vivienda principal, vivienda vacacional o terreno se pueden deducir si se basan en la valuación fiscal y si tu propiedad es de uso personal. El que obtengas o no una deducción sobre tus impuestos es otra cuestión, dado que hay varios cambios vigentes a partir de la reforma tributaria que han afectado esta deducción. Primero, no podrás deducir los impuestos sobre tu propiedad si tomas la deducción estándar. Aun si detallas tus deducciones, la deducción SALT (impuestos estatales y locales sobre los ingresos), que incluye el impuesto sobre la propiedad, ahora tiene un tope de $10,000 ($5,000 para parejas que presentan su declaración separadamente). Esto significa que es posible que los contribuyentes que viven o son dueños de una propiedad en estados con impuestos altos sobre la propiedad no obtengan una gran deducción como lo hicieron en años anteriores. Dicho esto, igualmente deberías cargar tus impuestos sobre la propiedad en&nbsp;TurboTax. Calcularemos qué cantidad, si hay alguna, es deducible. Asegúrate de incluir los impuestos sobre la propiedad pagados al cierre así como el impuesto anual sobre la propiedad pagado a tu tasador. No incluyas lo siguiente: Impuestos que pa...

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<description>...</description>

<pubDate>Tue, 16 Jun 2020 18:34:58 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/tax-credits-deductions/help/puedo-deducir-impuestos-sobre-la-propiedad-bienes-ra%C3%ADces/01/837761#M241

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-06-16T18:34:58Z</dc:date>

</item>

<item>...</item>

<item>

<title>

¿Puedo deducir el seguro hipotecario privado (PMI o MIP)?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/puedo-deducir-el-seguro-hipotecario-privado-pmi-o-mip/01/277390#M240

</link>

<link>...</link>

<description>

Sí, siempre y cuando detalles tus deducciones y el contrato de seguro se haya emitido después de 2006. Una vez que tu Ingreso Bruto Ajustado (AGI, por sus siglas en inglés) supera los $100,000 ($50,000 para casados declarando por separado), la deducción se reduce. Si tu AGI supera los $109,000 ($54,500 si eres casado declarando por separado), la deducción del PMI/MIP se elimina por completo. Related Information: ¿Aún puedo detallar mis deducciones? ¿Puedo deducir mi seguro de propietario?

</description>

<description>...</description>

<pubDate>Wed, 26 Aug 2020 23:45:18 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/puedo-deducir-el-seguro-hipotecario-privado-pmi-o-mip/01/277390#M240

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-26T23:45:18Z</dc:date>

</item>

<item>...</item>

<item>

<title>Can I deduct medical mileage and travel?</title>

<link>

https://ttlc.intuit.com/community/health-care/help/can-i-deduct-medical-mileage-and-travel/01/26243#M239

</link>

<link>...</link>

<description>

Yes, you can deduct costs associated with using your car or public transportation for medical visits and even to pick up prescriptions. For car expenses, you can use either the standard mileage rate (TurboTax figures it for you) or actual expenses, such as gas. You can add actual out-of-pocket expenses, such as parking fees and tolls, whether you use the standard mileage rate or actual expenses method. Be sure to keep records of each trip, including the date, the mileage driven, who you saw, and the purpose. Keep receipts for each expense. For more information, see Where do I enter my medical expenses? Related Information: Where do I enter my medical expenses? Can I deduct mileage? What kinds of medical expenses are deductible? Can I deduct health insurance premiums taken from my paycheck? Can I deduct Medicare premiums?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:51:12 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/can-i-deduct-medical-mileage-and-travel/01/26243#M239

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:51:12Z</dc:date>

</item>

<item>...</item>

<item>

<title>

Do teacher union dues qualify for the Educator Expense deduction?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/do-teacher-union-dues-qualify-for-the-educator-expense-deduction/01/25735#M238

</link>

<link>...</link>

<description>

No; only unreimbursed expenses for books, supplies, and equipment that you purchased for classroom use qualify for the $250 Educator Expense deduction. More info Employee union dues are no longer deductible in tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act. Prior to the Act, they were partially deductible as a miscellaneous deduction under the 2% rule.

</description>

<description>...</description>

<pubDate>Thu, 27 Aug 2020 01:21:42 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/do-teacher-union-dues-qualify-for-the-educator-expense-deduction/01/25735#M238

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-27T01:21:42Z</dc:date>

</item>

<item>...</item>

<item>

<title>Is my car registration fee deductible?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-my-car-registration-fee-deductible/01/27212#M237

</link>

<link>...</link>

<description>

Yes, if it’s a yearly fee based on the value of your vehicle and you itemize your deductions. You can’t deduct the total amount you paid, only the portion of the fee that’s based on your vehicle’s value. And, not all states have value-based registration fees. The states that do are list below along with the deductible portion of your registration fee. States with deductible car registration fees and which portion you're allowed to claim &nbsp;Alabama &nbsp;The Ad Valorem Tax you paid on your vehicles &nbsp;Arizona &nbsp;The Vehicle License Tax (VLT) you paid on your vehicles &nbsp;California &nbsp;The Vehicle License Fee (VLF) portion of your registration fee &nbsp;Colorado &nbsp;The Ownership Tax you paid on your vehicles &nbsp;Indiana &nbsp;The Excise Tax Fees you paid on your vehicles &nbsp;Iowa &nbsp;The Vehicle Registration Fee you paid based on your vehicle's value &nbsp;Kentucky &nbsp;The Vehicle Registration Fee you paid based on your vehicle's value &nbsp;Louisiana &nbsp;The License Plate Fee you paid based on your vehicle’s value &nbsp;Massachusetts &nbsp;The Motor Vehicle Excise Tax you paid on your vehicles &nbsp;Michigan &nbsp;The License Fee you paid based on your vehicle's value, if the model year is 1984 and newer &nbsp;Minnesota &nbsp;The Registration Tax you paid on your vehicles &nbsp;Mississippi &nbsp;The Ad Valorem Tax you paid on your vehicles &nbsp;Missouri &nbsp;The Personal Prope...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:12:27 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-my-car-registration-fee-deductible/01/27212#M237

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:12:27Z</dc:date>

</item>

<item>...</item>

<item>

<title>

Who is a Qualifying Person for the Child and Dependent Care Credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-a-qualifying-person-for-the-child-and-dependent-care-credit/01/26476#M236

</link>

<link>...</link>

<description>

For the purposes of the Child and Dependent Care Credit, a "Qualifying Person" is defined as one of the following: A child that was age 12 (or younger) for at least part of 2019 and who is also claimed as a dependent on your return. If the child turns 13 during the year, the child will qualify for the part of the year that he or she was under age 13. Exception: See special rules for divorced or separated parents, below Your spouse, if s/he is unable to care for themselves and lived in your home for at least 6 months during 2019 Anybody who lived in your home for at least 6 months during 2019 and was unable to care for themselves, if they: Are claimed as a dependent on your return, or Could have been claimed as your dependent but weren't because their gross income was $4,200 or more, s/he filed a joint return, or you (or your jointly-filing spouse) could be claimed as a dependent on somebody else's 2019 return. TurboTax will figure out if the person(s) for whom you provided care meet these requirements. Special rules for children of parents who are divorced, separated, or living apart Even if you can't claim your child as a dependent, he or she is treated as your qualifying person if: The child either: Was 12 or under or wasn't physically or mentally able to care for himself or...

</description>

<description>...</description>

<pubDate>Thu, 27 Aug 2020 00:20:58 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-a-qualifying-person-for-the-child-and-dependent-care-credit/01/26476#M236

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-27T00:20:58Z</dc:date>

</item>

<item>...</item>

<item>

<title>How much sales tax did I pay in 2019?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-sales-tax-did-i-pay-last-year/01/26358#M234

</link>

<link>...</link>

<description>

You can easily calculate this using the sales tax&nbsp;EasyGuide in TurboTax. With your tax return open in TurboTax, search for sales tax and then select the "Jump to" link in the search results. On the Let's Compare Your Sales Tax and Income Tax screen select Try Sales Tax Deduction Anyway. When asked how you want to enter your sales tax, select&nbsp;EasyGuide. Keep following the onscreen instructions. We'll calculate the sales tax you paid in 2019 and fill out the corresponding worksheets behind the scenes. Related Information: Where do I enter my sales taxes paid?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 21:05:53 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-sales-tax-did-i-pay-last-year/01/26358#M234

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T21:05:53Z</dc:date>

</item>

<item>...</item>

<item>

<title>Where do I enter my sales taxes paid?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-sales-taxes-paid/01/26357#M233

</link>

<link>...</link>

<description>

If you’re taking the sales tax deduction, here’s how to enter the sales tax you paid: Open or continue your return. Search for sales tax and select the Jump to link in the search results. When asked how you want to enter your sales tax info: Choose EasyGuide if you want us to walk you through it. If you’ve saved all of your receipts, you can choose Enter All My Receipts and give us the grand total. Related Information: Which deduction should I choose, state and local income tax or sales tax? How much sales tax did I pay in 2019? What sales tax payments can I claim on my federal taxes? How will tax reform affect my 2018 federal tax return?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 21:05:51 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-sales-taxes-paid/01/26357#M233

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T21:05:51Z</dc:date>

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<item>...</item>

<item>

<title>Can I claim my parent as a dependent in 2019?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-parent-as-a-dependent/01/26139#M232

</link>

<link>...</link>

<description>

Whether it's a parent, friend, or relative you support, being able to claim someone as a dependent can save you money. If you're not sure you can claim your parent or another person as a dependent, we'll help you figure that out. Generally, you can claim your parent if they didn't have more than $4,200 in gross income (excluding nontaxable Social Security) and you provided more than half of their support in 2019. Your parent doesn't have to live with you. There are a few other specifics we'll ask you about as we go along.

</description>

<description>...</description>

<pubDate>Wed, 26 Aug 2020 20:29:12 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-parent-as-a-dependent/01/26139#M232

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-26T20:29:12Z</dc:date>

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<item>...</item>

<item>

<title>Can I deduct mortgage points?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mortgage-points/01/26140#M231

</link>

<link>...</link>

<description>

Yes, &nbsp;you can deduct points for your&nbsp;main&nbsp;home,&nbsp;if all of the following conditions apply: They're discount points (see the definition) The mortgage is used to buy, build, or improve the home, and the home is the collateral for the loan Paying mortgage points is a customary practice in your area and the points you paid aren't excessive for your neighborhood The points were paid directly to the lender, either by you or the seller (no borrowing) Your down payment, plus any points the seller paid, exceed the points paid amount You use the cash method of accounting (almost all taxpayers do) The points are calculated as a percentage of the mortgage principal (not required on home-improvement loans) The points are clearly itemized on your settlement statement as points (not required on home-improvement loans) If you meet all the above criteria, you can either deduct all your points in the year you paid them or deduct them in equal increments over the life of the loan. Either way, you'll need to itemize to get the deduction. The deduction for mortgage interest is capped at $750,000 of debt. Interest on up to $1 million of acquisition debt for loans prior to December 15, 2017 is grandfathered. Are points deductible on a second home and refinances? On a second home, points can only be d...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:49:47 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mortgage-points/01/26140#M231

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:49:47Z</dc:date>

</item>

<item>...</item>

<item>

<title>Why is my HSA distribution taxable?</title>

<link>

https://ttlc.intuit.com/community/health-care/help/why-is-my-hsa-distribution-taxable/01/26609#M230

</link>

<link>...</link>

<description>

An HSA distribution – money spent from your HSA account – is nontaxable as long as it's used to pay for&nbsp;qualified medical expenses. HSA distributions used for anything other than qualified medical expenses are not only taxable, they're subject to an additional 20% penalty if you're not disabled or are under the age of 65. After you enter your&nbsp;1099-SA, we'll ask&nbsp;Did you spend all the money you took out on medical expenses?&nbsp;If you answer Yes, the entire distribution in Box 1 of your 1099-SA is nontaxable. However, if you answer No,&nbsp;the portion that wasn't used for qualified medical expenses becomes taxable income. This income appears on Form 8889, line 16 and Schedule 1, line 8. The 20% additional penalty, if applicable, will show up on Line 17b of your 8889 and Schedule 2, line 8. Related Information: What kinds of medical expenses are deductible? Where do I enter my HSA contribution? Can I deduct medical costs paid with HSA or MSA funds? What is a health savings account (HSA)? Why am I showing an excess HSA contribution in 2019?

</description>

<description>...</description>

<pubDate>Fri, 11 Sep 2020 17:39:42 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/why-is-my-hsa-distribution-taxable/01/26609#M230

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-11T17:39:42Z</dc:date>

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<item>...</item>

<item>

<title>How much can I deduct for donating a car?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-can-i-deduct-for-donating-a-car/01/26344#M229

</link>

<link>...</link>

<description>

The maximum you can deduct is the fair market value (FMV) of your car. Generally, that's the price a willing buyer would pay a willing seller, assuming neither party is being forced to buy/sell and both parties have reasonable knowledge about the condition of the vehicle. Here's where it gets a little tricky: if the FMV is $500 or less, claim the FMV. If the FMV of your donated car exceeds $500, you can only deduct the amount the charity received (or expects to receive) when sold at auction, in most cases. For example, if your old Subaru hatchback had a FMV of $950 at the time of donation and the charity later sold it for $680, you can only deduct $680. Charities must give you Form 1098-C with the allowed donation amount within 30 days of the donation or sale.&nbsp;You'll need to send a copy of Form 1098-C along with some other paperwork to the IRS (we'll walk you through this process in TurboTax). How do I determine the FMV of my car? The most accurate method&nbsp;is to look for private party&nbsp;ads for similar vehicles for sale in your area. If you can't find sales ads for similar vehicles, you can&nbsp;use industry pricing guides like Edmunds or Kelley Blue Book. Related Information: Do I need a receipt for my donation? How do I enter my 2019 charitable donations in TurboTax?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 21:04:32 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-much-can-i-deduct-for-donating-a-car/01/26344#M229

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T21:04:32Z</dc:date>

</item>

<item>...</item>

<item>

<title>How do I determine the value of donated items?</title>

<link>

https://ttlc.intuit.com/community/charitable-contributions/help/how-do-i-determine-the-value-of-donated-items/01/26348#M228

</link>

<link>...</link>

<description>

Most of the time it will be the fair market value&nbsp;(FMV) of your item. However, if the amount you originally paid for the item is less than the FMV, you must use the original cost of the item. You can get the FMV by looking at similar items for sale on&nbsp;eBay, Craigslist, or at your local thrift store. When you use our&nbsp;ItsDeductible&nbsp;program, it will assign a FMV to most items that are commonly donated. Determining the value of a donated car involves a few more steps, if its value is over $500. Related Information: How and where does Its Deductible obtain its values? How much can I deduct for donating a car? Do I need a receipt for my donation?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 21:04:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/charitable-contributions/help/how-do-i-determine-the-value-of-donated-items/01/26348#M228

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T21:04:49Z</dc:date>

</item>

<item>...</item>

<item>

<title>Do I need a receipt for my donation?</title>

<link>

https://ttlc.intuit.com/community/charitable-contributions/help/do-i-need-a-receipt-for-my-donation/01/26345#M227

</link>

<link>...</link>

<description>

Yes. For noncash donations under $250 in value, you'll need a receipt unless the items were dropped off at an unmanned location such as a clothing bin. Noncash donations from $250 to $500 in value require a receipt that includes the charity's name, address, date, donation location and description of items donated. Noncash donations over $500 in value also require a record of how and when the items were acquired and their adjusted basis. If the donation exceeds $5,000 in value, it'll need a written appraisal from a qualified appraiser. For cash donations under $250, you'll either need a bank record (like a canceled check or bank statement) or a written acknowledgment from the charity which includes the date and amount of your contribution. Bank records are insufficient for cash donations of $250 or more. Instead, you'll need something in writing from the charity which includes the date and amount of your donation. Donations made through payroll deduction require you to keep a pay stub, Form W-2 or other document furnished by your employer that shows the date and amount of your contribution. &nbsp;In addition, you'll also want to keep the pledge card showing the name of the organization. Related Information: Can I deduct donations to charity? How do I enter my 2019 charitable donatio...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:55:24 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/charitable-contributions/help/do-i-need-a-receipt-for-my-donation/01/26345#M227

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:55:24Z</dc:date>

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<item>...</item>

<item>

<title>What is the Tuition and Fees Deduction?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-tuition-and-fees-deduction/01/26134#M226

</link>

<link>...</link>

<description>

The Tuition and Fees Deduction allows eligible taxpayers to deduct up to $4,000 in education expenses for themselves, their spouses, or their dependents. You don't need to itemize to get the deduction. You're eligible for this deduction if you don't qualify for the American Opportunity Credit or the Lifetime Learning Credit, unless: You’re filing as single or head of household and your AGI exceeds $80,000. You’re filing jointly and your combined AGI exceeds $160,000. You’re filing separately from your spouse. Someone else, such as a parent, is eligible to claim you as a dependent on their tax return (whether or not they actually do it). You also need to have qualified expenses, which include tuition, course-related books, supplies or equipment, enrollment fees, lab fees, and other expenses required to enroll or&nbsp;attend&nbsp;an eligible educational institution. Things you can't claim: Room and board Extracurricular activities Student health fees Insurance Living expenses like food Housing, or transportation Fees for noncredit or "fun" courses not required to earn the degree An eligible educational institution is any college, university, vocational school, or post-secondary educational institution eligible to participate in a student aid program administered by the US Department of Ed...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:49:40 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-tuition-and-fees-deduction/01/26134#M226

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:49:40Z</dc:date>

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<title>

What are the qualifications for the Earned Income Credit (EIC or EITC)?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-qualifications-for-the-earned-income-credit-eic-or-eitc/01/25603#M225

</link>

<link>...</link>

<description>

To qualify for and claim the Earned Income Credit you must: Have earned income; and Have been a U.S. citizen or resident alien for the entire tax year; and Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly), and any qualifying children on your return; and Not have investment income exceeding $3,600; and Not be filing a Form 2555 or 2555-EZ; and File a return with the Single, Married Filing Jointly, Head of Household, or Qualifying Widower filing status, even if you're not required to file a return. In addition, both your earned income and Adjusted Gross Income (AGI) may not exceed: $15,570 if you're not claiming a qualifying child ($21,370 if filing jointly); $41,094 if you're claiming 1 qualifying child ($46,884 if filing jointly); $46,703 if you're claiming 2 qualifying children ($52,493 if filing jointly); $50,162 if you're claiming 3+ qualifying children ($55,952 if filing jointly). One more thing — if you're not claiming a qualifying child: You (or your jointly filing spouse) must have been born on or after January 1, 1955; and You (or your jointly filing spouse) must have been born on or before December 31, 1994; and You (and your jointly filing spouse) cannot be claimed as a qualifying child or dependent on anyone else's retu...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:35:16 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-qualifications-for-the-earned-income-credit-eic-or-eitc/01/25603#M225

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:35:16Z</dc:date>

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<item>

<title>

How do tax credits and deductions affect my refund?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-tax-credits-and-deductions-affect-my-refund/01/26752#M224

</link>

<link>...</link>

<description>

Tax credits and deductions are commonly confused, but each affect your refund in a different way. Here's a quick explanation: Tax credits, dollar-for-dollar, reduce the amount of taxes you owe. If you claim more credits than you owe in taxes, you may end up owing nothing, and in certain situations, getting additional money back. Tax deductions reduce the amount of income you'll be taxed on. If you make $45,000 and claim $2,000 in deductions, you'll be taxed as if you made $43,000 when you file. The IRS will pay you the difference in your refund. <A href="https://youtu.be/BfmILqzCrVM" target="_blank">https://youtu.be/BfmILqzCrVM</A> Related Information: Why doesn't my refund increase when I enter a deduction? Who is eligible to take the American Opportunity Tax Credit? Where do I enter my estimated tax payments? Related Information: What are the qualifications for the Earned Income Credit (EIC or EITC)? What is the Child and Dependent Care Credit? Who is eligible to take the American Opportunity Tax Credit?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:04:53 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-tax-credits-and-deductions-affect-my-refund/01/26752#M224

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:04:53Z</dc:date>

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<title>Are funeral costs deductible?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/are-funeral-costs-deductible/01/26125#M223

</link>

<link>...</link>

<description>

Funeral costs (including embalming, burial, and cremation) aren't&nbsp;deductible on individual (Form 1040) returns and trust (Form 1041) tax returns. In the event an estate is qualified to file an estate (Form 706) return, the funeral costs are deductible. Health care expenses paid for a deceased spouse or dependent are deductible. Medical expenses paid within 1 year after death can be claimed on a decedent's final return for the year in which they were incurred, if a joint return isn't filed, and they're paid out of the estate.

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 18:37:27 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/are-funeral-costs-deductible/01/26125#M223

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T18:37:27Z</dc:date>

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<item>...</item>

<item>

<title>What if somebody already claimed my dependent?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-if-somebody-already-claimed-my-dependent/01/25605#M222

</link>

<link>...</link>

<description>

First, revisit the&nbsp;My Info or Personal Info section to verify your dependent's Social Security number (if wrong, correct it and then step through the File section to resubmit your return). If you already verified this info, you'll need to paper-file your return as the IRS will continue to reject your attempts to e-file. Then, if you know who claimed your dependent, ask them to amend their return by removing the dependent. Amendment processing can take weeks, even months, which is why it's best to paper-file your return in the meantime. If the other taxpayer is uncooperative, the IRS will eventually contact both of you to figure out who gets to claim the dependent. The losing party will then be liable for any additional taxes, penalties, and/or interest as a result of the false claim. Important: If you don't know who might have claimed your dependent, it could be a case of tax-related identity theft. Please contact us for assistance. What to do if you suspect identity theft. Related Information: Who can I claim as my dependent? How do I add or remove a dependent? How to amend (change or correct) a return you already filed

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 12:48:01 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-if-somebody-already-claimed-my-dependent/01/25605#M222

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T12:48:01Z</dc:date>

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<item>...</item>

<item>

<title>

Can I deduct parking fees for attending school or college?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-parking-fees-for-attending-school-or-college/01/26122#M221

</link>

<link>...</link>

<description>

Parking fees, transportation costs, and mileage don't count as deductible education-related expenses. If you're self-employed, you might be able to deduct these fees if the education maintains or improves skills required by your current line of work or is mandated by law or industry regulations (for example, if you’re required to take X hours of continuing education every year to keep your license). Related Information: What are qualified education expenses for the American Opportunity and Lifetime Learning credits?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:49:29 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-parking-fees-for-attending-school-or-college/01/26122#M221

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:49:29Z</dc:date>

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<item>

<title>What is depreciation?</title>

<link>

https://ttlc.intuit.com/community/business-expenses/help/what-is-depreciation/01/26123#M220

</link>

<link>...</link>

<description>

On your business taxes, depreciation&nbsp;(also called capitalization, cost recovery, or amortization) lets you deduct the "used up" portion of an asset's cost every year, until the asset no longer retains any value or has been sold, destroyed, or otherwise disposed of. The concept of depreciation is based on the notion that business&nbsp;assets eventually wear out, get used up, or become obsolete. With one notable exception (Section 179), depreciation is required for most "big ticket" business assets that have a useful life of more than one year and wear out over time, such as buildings, vehicles, equipment, office furniture, computers, and tools used by the business. Business assets must meet 3 conditions to be depreciable: The asset must be used to produce business income, rent, or royalty payments. There are exceptions for assets that failed to produce income, although that was their primary purpose. The asset must wear out, decay, becomes obsolete, or lose value over time. The asset has a useful life that can be measured and exceeds 1 year. You're not allowed to depreciate consumable items like office supplies, even if they last more than a year. You're also not allowed to depreciate land, inventory, or leased property. Once a depreciable asset is sold, bartered, discarded, or dest...

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 18:31:55 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/business-expenses/help/what-is-depreciation/01/26123#M220

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T18:31:55Z</dc:date>

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<item>...</item>

<item>

<title>

How do I check in TurboTax to see if I claimed the EIC and/or ACTC?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-check-in-turbotax-to-see-if-i-claimed-the-eic-and-or-actc/01/27029#M219

</link>

<link>...</link>

<description>

You’ll need to check your 1040 form to know if you’ve claimed either or both of the credits. To find your 1040 form in: TurboTax Online When in your account, select the Take Me to My Return button on the main screen. Select Tax Tools on the left side of the screen, then select the Tools option. Select View Tax Summary. &nbsp; TurboTax Online after you’ve filed Sign in and open your return. Under Your tax returns &amp; documents, select the tax year of the return. Select Download/print return PDF. &nbsp; TurboTax Desktop For Windows users: When in the program, select&nbsp;View. Then from the drop-down, select Forms. On the left under&nbsp;Forms in My Return, select your 1040 form. For Mac users: When in the program, select View. Then from the drop-down, select Go to Forms. On the left under Federal Forms, select your 1040 form. It will be on EIC line 17a, ACTC line 17b. Related Information: Some 2019 federal refunds are delayed due to the PATH Act What is the Additional Child Tax Credit? Related Information: Some 2019 federal refunds are delayed due to the PATH Act

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:10:35 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-check-in-turbotax-to-see-if-i-claimed-the-eic-and-or-actc/01/27029#M219

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:10:35Z</dc:date>

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<item>...</item>

<item>

<title>

Nonresident state tax credit doesn't display in resident state return

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/nonresident-state-tax-credit-does-not-display-in-resident-state-return/01/25719#M218

</link>

<link>...</link>

<description>

If you need to prepare more than one state return, you may notice that your resident state return isn't giving you a credit for the taxes you paid to the nonresident state(s). The state where you live (your resident state) will tax all your income and will give a credit for taxes paid to&nbsp;the non-resident&nbsp;state on the resident state return so you are not double taxed. In order to receive a non-resident state tax credit follow these steps: Enter your non-resident state information first. Enter your resident state information next. Check to make sure you choose the resident state long form. On your resident return summary screen you'll see a credit for your non-resident state taxes. If you created your resident state return before you began work on your nonresident state return, TurboTax will not pull over any tax amounts (credits) from your nonexistent nonresident state return. To resolve this issue, you will need to&nbsp;remove your resident state return&nbsp;and then create a new resident state return. Doing this has the same effect as entering your non-resident state first, which is how the returns should be entered. How are the resident and non-resident incomes allocated? Depending on your state, resident and non-resident&nbsp;incomes&nbsp;may be&nbsp;allocated automatically according to&nbsp;your Wages ...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:36:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/nonresident-state-tax-credit-does-not-display-in-resident-state-return/01/25719#M218

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:36:49Z</dc:date>

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<item>

<title>What is the Educator Expense deduction?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-educator-expense-deduction/01/25829#M217

</link>

<link>...</link>

<description>

If you are a teacher, instructor, counselor, aide, or principal that works at least 900 hours in a school that provides K–12 education, you can deduct up to $250 in unreimbursed expenses for books, supplies, and equipment used in the classroom. Although the $250 deduction survived the Tax Cuts and Jobs Act signed into law on December 22, 2017, expenses above and beyond the $250 limit are no longer deductible in tax years 2018 through 2025. Prior to the tax law change, the excess qualified as a miscellaneous itemized deduction subject to the 2% limitation.

</description>

<description>...</description>

<pubDate>Thu, 27 Aug 2020 00:18:59 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-educator-expense-deduction/01/25829#M217

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-27T00:18:59Z</dc:date>

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<title>

Does my business qualify for the California Disabled Access Credit?

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https://ttlc.intuit.com/community/credits-and-deductions/help/does-my-business-qualify-for-the-california-disabled-access-credit/01/27600#M216

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Your business qualifies for California’s Disabled Access Credit for Eligible Small Businesses if it had one of the following expenditures: Removed architectural, communication, physical, or transportation barriers that prevent the business from being accessible to, or usable by, people with disabilities, if the facility first placed in service before November 6, 1990 Provided qualified interpreters or other methods of making audio materials available to people who are deaf or hard of hearing. Provided qualified readers, taped texts, and other methods of making visual materials available to people with visual impairment Acquired or modified equipment or devices for people with disabilities Provided other similar services, modifications, materials, or equipment Businesses must also meet certain requirements to be able to take the credit: Had gross receipts (which can be reduced by returns and allowances) of less than $1 million in the tax year, or Employed no more than 30 full-time employees during the tax year Your business can receive a credit of up to $125 on eligible expenses by filing Form 3548. Related Information: What expenses qualify for the Lifetime Learning Credit? Can I claim my student loan? What is the Qualified Business Income (QBI) deduction? Can I claim energy-e...

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<pubDate>Mon, 07 Sep 2020 13:18:52 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/does-my-business-qualify-for-the-california-disabled-access-credit/01/27600#M216

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:18:52Z</dc:date>

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<title>

Why am I showing an excess HSA contribution in 2019?

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https://ttlc.intuit.com/community/health-care/help/why-am-i-showing-an-excess-hsa-contribution/01/26610#M215

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For 2019, the maximum combined&nbsp;total&nbsp;that you, your employer, and/or any other eligible person can contribute to your HSA account is: $3,500 if you're under 55 at the end of 2019 and are covered by an individual (self-only) HDHP; $7,000 if you're under 55 at the end of 2019 and are covered by a family HDHP; $4,500 if you're 55 or older at the end of 2019 and are covered by an individual (self-only) HDHP; $8,000 if you're 55 or older at the end of 2019 and are covered by a family HDHP. Spouses on separate plans: The $7,000 family limit applies to married couples even if one spouse is covered by a family plan and the other spouse has their own individual plan. In this scenario, the couple may split their respective contributions any way they like, as long as the couple's total contribution doesn't exceed $7,000. (Spouses 55 or older at the end of 2019 are allowed to contribute an additional $1,000 to their own HSA.) If the 2019 HSA contribution exceeds the allowable amount, the excess must be withdrawn by July 15, 2020 to avoid a penalty (October 15 if you filed an extension). Double-check your entries We recommend revisiting the HSA entry screens to make sure the excess contribution wasn't due to an entry error. Here's how: With your return open, search for hsa inside your prog...

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<pubDate>Tue, 08 Sep 2020 18:50:25 GMT</pubDate>

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https://ttlc.intuit.com/community/health-care/help/why-am-i-showing-an-excess-hsa-contribution/01/26610#M215

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-08T18:50:25Z</dc:date>

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<title>What is the 2% rule?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-2-rule/01/26650#M214

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The 2% rule referred to the limitation on certain miscellaneous itemized deductions, which included things like unreimbursed job expenses, tax prep, investment, advisory fees, and safe deposit box rentals. In 2017 and earlier tax years, wage-earners and other taxpayers who weren’t able to write these off as business expenses were allowed to deduct the portion of these miscellaneous expenses that exceeded 2% of their AGI, provided they took the itemized deduction. These miscellaneous expenses were reported on Form 2106. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the deduction for these 2% miscellaneous expenses has been suspended in tax years 2018 through 2025. However, this doesn’t affect: Self-employed individuals and businesses who can continue to deduct business-related expenses on Schedule C as before People who work in one of these specific professions or situations Armed Forces reservist Qualified performing artist Fee-basis state or local government official You're disabled and have impairment-related expenses Your job-related expenses may still be allowed on your state return. Enter your expenses and we’ll figure out if you can deduct them. Related Information: Which federal tax deductions have been suspended by tax reform?

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<pubDate>Tue, 11 Aug 2020 00:49:50 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-2-rule/01/26650#M214

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T00:49:50Z</dc:date>

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<title>Can I deduct my moving expenses?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-my-moving-expenses/01/26119#M213

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<description>

If you’re active-duty military and were ordered to move as the result of a PCS (permanent change of station), you can deduct your out-of-pocket moving expenses to your new post, including travel and lodging (but not meals). You cannot deduct moving expenses for which you were reimbursed, nor can you deduct moving expenses that were paid for by the government. For everybody else, the moving expense deduction has been suspended for tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act that was signed into law in late December of 2017. Prior to the suspension, full-time employees who worked at least 39 weeks during the first 12 months at their new job location could deduct moving expenses that were paid within one year of the date they first reported to work at their new workplace, provided the distance between their old home and new workplace was at least 50 miles further than it was from the old workplace. Related Information: What is the 2% rule? Which federal tax deductions have been suspended by tax reform? What types of meal and entertainment expenses are 100% deductible on a business return? I bought a house, what can I deduct? Can I deduct moving expenses if I moved twice for work?

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<pubDate>Mon, 07 Sep 2020 12:49:24 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-my-moving-expenses/01/26119#M213

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:49:24Z</dc:date>

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<title>I sold my home, what can I deduct?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-what-can-i-deduct/01/27097#M212

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If you sold a&nbsp;qualified home, you can make deductions up until the time you sold your home, which includes mortgage interest, mortgage insurance, points and real estate/property taxes. You should be able to see these on the 1098 from your lender. You can also deduct: Home improvement costs (which are more or less permanent changes to the house and not the same as repairs and maintenance) Mortgage interest and/or real estate/property taxes charged at closing (other than that, almost no closing costs are deductible) Look at Selling Your Home by the IRS for more in-depth information. Related Information: I bought a house, what can I deduct? Can I deduct mortgage points? Is the money I made from a home sale taxable? How do I handle multiple 1098 mortgage forms? What kinds of refinancing costs can I deduct? Related Information: I bought a house, what can I deduct? Can I deduct my moving expenses? Where do I enter my 1098 mortgage interest statement? Is the money I made from a home sale taxable? Can I deduct home improvements on my tax return? Can I claim property (real estate) taxes if I recently bought or sold my home?

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<pubDate>Mon, 07 Sep 2020 13:11:23 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-what-can-i-deduct/01/27097#M212

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:11:23Z</dc:date>

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<title>How do I claim the Adoption Credit in 2019?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-adoption-credit/01/26113#M211

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The adoption tax benefits provide an incentive for individuals or families to adopt an eligible child. The 2019 maximum dollar amount per eligible child is $14,080. If your expenses were spread over multiple years, you might be able to spread the credit over multiple tax returns (see Who Qualifies and What Adoption Expenses Qualify below). Included in the tax benefits is a nonrefundable tax credit. This is a dollar-for-dollar reduction in the amount of federal taxes owed (tax liability) for the year. You won't get a refund if the tax credit is more than your total tax owed for the year. However: Any credit in excess of your tax liability may be carried forward for up to five years. There's an exclusion from income for an approved employer-provided adoption assistance program. To claim the adoption tax credit in TurboTax: Open or continue your return if it isn't already open. Search for adoption credit and select the Jump to&nbsp;link. On the Did you pay any adoption expenses in 2019 or earlier? or the Credit for Adoption Expenses&nbsp;screen, read the information and, if you qualify, answer Yes. Continue answering questions until you're finished. An eligible child is: Any child under the age of 18. If the child turned 18 during the year, the child is an eligible child for the part of th...

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<pubDate>Thu, 27 Aug 2020 00:40:55 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-adoption-credit/01/26113#M211

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-27T00:40:55Z</dc:date>

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<title>What is a qualified charitable organization?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-qualified-charitable-organization/01/26938#M210

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It's an organization that has been granted tax-exempt status by the IRS and is eligible to receive tax-deductible charitable contributions. Examples of qualified charitable organizations: Churches, mosques, synagogues, temples, and other religious organizations Charities like Goodwill, United Way, Salvation Army, Red Cross, CARE, Boy/Girl Scouts, and Boys &amp; Girls Clubs of America Nonprofit schools, hospitals, and volunteer fire departments Veterans' and certain cultural groups Public parks and recreation facilities If you're not sure of the organization's charitable status, contact them directly or use the IRS Exempt Organizations Lookup Tool. Related Information: Can I deduct donations to charity? Do I need a receipt for my donation? How do I enter my 2019 charitable donations in TurboTax?

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<pubDate>Tue, 11 Aug 2020 03:36:41 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-qualified-charitable-organization/01/26938#M210

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T03:36:41Z</dc:date>

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<title>

How do I deduct mortgage interest if I co-owned the home?

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https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-deduct-mortgage-interest-if-i-co-owned-the-home/01/27092#M209

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There are different situations that affect how you deduct mortgage interest when co-owning a home. The co-owner is a spouse who is on the same return: Enter the full amount as it appears on the 1098. The 1098 has multiple names, but only one person is paying the mortgage/interest: Only the person who actually paid the interest can take the deduction. The 1098 has multiple names and multiple people are paying the mortgage/interest: Each can deduct their portion of interest paid. When entering the 1098 only enter the amount that you actually paid, not the full amount. The 1098 is in someone else's name (not a seller-financed loan), but you pay some or all of the mortgage/interest: In most cases you'd have to be the owner of the property to take the deduction. If you can prove you're the owner in every way but in name (constructive ownership), you could still be allowed to take the deduction.&nbsp;(You could get audited and have to prove constructive ownership. If the IRS doesn't allow the deduction, you may have to go to tax court and argue your case.)You’ll be able to explain in TurboTax why you’re taking the deduction. In the Deductions &amp; Credits section (where you enter mortgage interest), check The interest amount I entered is different than what's on my 1098 when entering your i...

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<pubDate>Mon, 07 Sep 2020 13:11:17 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-deduct-mortgage-interest-if-i-co-owned-the-home/01/27092#M209

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:11:17Z</dc:date>

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<title>Can I deduct contributions to a 529 plan?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-contributions-to-a-529-plan/01/26374#M208

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No, not on your federal taxes. However, some states let you deduct all or part of your 529 plan contributions. If your state is one of those states, we'll prompt you to enter your 529 contributions when you get to the credits/deductions portion of your state tax interview. Related Information: What are 529 plans? Where do I enter a 1099-Q? Related Information: What are 529 plans?

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<pubDate>Mon, 07 Sep 2020 12:55:42 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-contributions-to-a-529-plan/01/26374#M208

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:55:42Z</dc:date>

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<title>Can the cost of private schooling be deducted?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-the-cost-of-private-schooling-be-deducted/01/25879#M206

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No, the cost of private school (K-12) doesn't qualify for any education deductions or credits on your federal return. If your child attends a daycare program before or after school, whether at a public or private school, you may qualify for a child care credit. Some private school tuition for special needs students may be eligible for a medical deduction. The Tax Cuts and Jobs Act now allows distributions from a 529 plan to be used for elementary or secondary (K-12) public, private, or religious school expenses. For more information see Frequently Asked Questions on 529 plans. A few states allow deductions for K-12 education and/or home schooling expenses. If your state is one of them, we'll ask you about it when we get to your state return.

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<pubDate>Mon, 10 Aug 2020 15:29:43 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-the-cost-of-private-schooling-be-deducted/01/25879#M206

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T15:29:43Z</dc:date>

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What can I deduct when refinancing rental property?

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-can-i-deduct-when-refinancing-rental-property/01/25982#M205

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Unlike your primary residence, where you can only deduct qualified points and interest, you can deduct all costs associated with obtaining a new mortgage for your rental property. Typical loan-related expenses include: Points Loan origination and loan assumption fees Mortgage insurance premiums Application fees Credit report fees Appraisal fees (if required by the lender) The costs associated with obtaining a mortgage on rental property are amortized (spread out)&nbsp;over the life of the loan. For example, if it cost you $3,000 to refinance your 30-year mortgage, you'd be able to deduct $100 per year for the next 30 years. Other refinance-related expenses not directly related to the mortgage may also be deductible. Generally, if the cost is associated with operating the property (like real estate taxes or hazard insurance) they're deducted as expenses, whereas costs associated with purchasing the property (like title search fees or recording fees) are added to the property's cost basis, which means they get depreciated. When you enter your rental property information, we'll ask about all of these things and deduct them according to the rules. Related Information: Where do I enter income and expenses from a rental property? What kinds of rental property expenses can I deduct? How d...

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<pubDate>Fri, 28 Aug 2020 17:02:58 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-can-i-deduct-when-refinancing-rental-property/01/25982#M205

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-28T17:02:58Z</dc:date>

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Can I deduct education expenses that were paid with student loans?

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-education-expenses-that-were-paid-with-student-loans/01/25981#M204

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It doesn't matter how&nbsp;education expenses were paid; eligible expenses can be deducted whether they were paid out-of-pocket or through a student loan. When paying expenses through a loan, deduct them in the tax year you paid the expenses, not the year you got the loan or paid it off. Keep in mind that if someone claims the student as a dependent, that person (not the student) gets the education credit, regardless of who actually paid the expenses. Related Information: Can I claim my student loan? What are examples of education expenses? What are qualified education expenses for the American Opportunity and Lifetime Learning credits? Related Information: Can I claim my student loan?

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<pubDate>Mon, 07 Sep 2020 12:43:57 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-education-expenses-that-were-paid-with-student-loans/01/25981#M204

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:43:57Z</dc:date>

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<title>Can I still itemize my deductions?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-still-itemize-my-deductions/01/26528#M203

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When you finish going through the Deductions &amp; Credits section, we'll automatically give you the deduction, Standard or itemized, that gives you the best outcome on your federal taxes. We estimate that nearly 90% of federal tax filers will be better off taking the higher Standard Deduction. If you still want to switch to the itemized deduction, you can do that. Follow these instructions. With state returns, things are a little different. Some states, like Illinois and Massachusetts, don't have itemized deductions, while others, like New York, require that you choose the same deduction you took on your federal return. When you get to your state return, we'll let you know what’s available according to your state's tax laws. Related Information: How does the Standard Deduction differ from itemizing deductions? How do I change from the standard deduction to itemized (or vice-versa)? What's my standard deduction for 2019? Can I deduct private mortgage insurance (PMI or MIP)? How will tax reform affect my 2018 federal tax return? Related Information: How do I change from the standard deduction to itemized (or vice-versa)? How does the Standard Deduction differ from itemizing deductions?

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<pubDate>Mon, 07 Sep 2020 12:57:50 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-still-itemize-my-deductions/01/26528#M203

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:57:50Z</dc:date>

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<title>What is ItsDeductible?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-itsdeductible/01/25975#M202

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<description>

TurboTax ItsDeductible&nbsp;is a free program included with, TurboTax Deluxe TurboTax Live Deluxe TurboTax Premier TurboTax Live Premier TurboTax Self-Employed TurboTax Live Self-Employed TurboTax Home &amp; Business It lets you enter your charitable donations year-round so you can import them directly into your return at tax time. It's available online and as a mobile app. Why use ItsDeductible? ItsDeductible can help you save on your taxes if you itemized your deductions. You probably have no idea how much your donated items are really worth. Like most people, you just want to get rid of all that unwanted stuff taking up space. What you might not know is that the IRS allows you to deduct the fair market value of those donated items, as long as they are in good or better condition, and that's where ItsDeductible comes in. ItsDeductible's patented fair market valuation process not only saves you time, it can save the average donor who itemizes&nbsp;hundreds of dollars per year in taxes. Related Information: How do I import my donations from ItsDeductible? How and where does Its Deductible obtain its values?

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<pubDate>Mon, 10 Aug 2020 16:38:54 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-itsdeductible/01/25975#M202

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T16:38:54Z</dc:date>

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<title>What is the Additional Child Tax Credit?</title>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-additional-child-tax-credit/01/26730#M201

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<link>...</link>

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The&nbsp;Additional&nbsp;Child Tax Credit&nbsp;isn't a credit you get for additional children; rather, it's the leftover portion of the&nbsp;Child Tax Credit&nbsp;(up to $1,400) that you're eligible to receive if the Child Tax Credit wipes out your tax liability for the year. For example, let's say you qualify for the full $2,000 Child Tax Credit but your&nbsp;tax liability&nbsp;for the year is only $750. You'd get $750 back from the Child Tax Credit (the amount needed to reduce your tax liability to $0) and the remaining $1,250 as the Additional Child Tax Credit. Qualifications for the Additional Child Tax Credit are the same as for the Child Tax Credit, with one more condition: your&nbsp;earned income&nbsp;must be at least $2,500. Related Information: What is the Child Tax Credit? What does "tax liability" mean? Is that the amount I still owe? What is earned income? Some 2019 federal refunds are delayed due to the PATH Act Related Information: What is the Child Tax Credit? What does "tax liability" mean? Is that the amount I still owe? What is earned income? What is the $500 Credit for Other Dependents (“Family Tax Credit”)?

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<pubDate>Mon, 07 Sep 2020 13:04:27 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-additional-child-tax-credit/01/26730#M201

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:04:27Z</dc:date>

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<title>

Can I file my return without providing information about my health insurance?

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<title>...</title>

<link>

https://ttlc.intuit.com/community/health-care/help/can-i-file-my-return-without-providing-information-about-my-health-insurance/01/27121#M200

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<link>...</link>

<description>

Starting in 2019, there's no longer a penalty for not having health insurance starting. However, if you had health insurance through Marketplace or received a Form 1095-A, you'll need to fill out a Form 8962 to reconcile the Premium Tax Credit. We'll create this for you when you enter your info. Related Information: How much is the Affordable Care Act penalty? Can I get a health insurance penalty exemption for 2019? What doesn’t count as health insurance on my 2018 return? What counts as health insurance for my 2019 tax return? Related Information: What counts as health insurance for my 2019 tax return? What doesn’t count as health insurance on my 2018 return? What is the Affordable Care Act (ACA)? How much is the Affordable Care Act penalty? Can I get a health insurance penalty exemption for 2019?

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<pubDate>Mon, 07 Sep 2020 13:11:44 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/can-i-file-my-return-without-providing-information-about-my-health-insurance/01/27121#M200

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:11:44Z</dc:date>

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<title>

Can I deduct interest on a home equity loan or a HELOC?

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<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-interest-on-a-home-equity-loan-or-a-heloc/01/27090#M199

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<link>...</link>

<description>

The interest for a home equity loan or HELOC (home equity line of credit) is an allowable deduction if you itemize. You'll need to meet some conditions: The loan or line of credit is secured (put up as collateral to protect the lender) by your main home or a second home. The home securing the loan must have sleeping, cooking, and toilet facilities. The loan or line of credit must&nbsp;be used to buy, build or substantially improve your home. This requirement began with tax year 2018 and extends through 2025. You can only deduct the portion of the loan or line of credit you used to buy, build, or substantially improve the home that is used to secure the loan or line of credit. This requirement began with tax year 2018 and extends through 2025. If you’ve ever used part of this loan to pay for things other than this home, you cannot deduct the interest from that amount of the loan, even if the transaction didn’t take place this year. To get the full deduction, your mortgage debt doesn’t exceed $1,000,000 if you got your loan between October 13, 1987 and December 15, 2017 or $750,000 if you got your loan after December 15, 2017. You or someone on your tax return must have signed or co-signed the loan. If you rented out the home, you must have used the home more than 14 days during the ...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:11:14 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-interest-on-a-home-equity-loan-or-a-heloc/01/27090#M199

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:11:14Z</dc:date>

</item>

<item>...</item>

<item>

<title>Can employees deduct vehicle expenses?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-employees-deduct-vehicle-expenses/01/25973#M198

</link>

<link>...</link>

<description>

Vehicle expenses related to the commute between your home and main workplace (like gas, mileage, maintenance, repairs, or lease) have never been deductible on your federal return, even if your workplace is far away or you conduct business or haul work supplies during your commute. In 2017 and earlier tax years, employees could get a partial deduction for expenses incurred while commuting between multiple job sites during the same day, as well as commutes to temporary work locations. They could also claim costs for non-commuting work-related trips, such as attending an offsite meeting or running an errand for the company. However, these expenses are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Related Information: Can I deduct travel expenses? Can I deduct mileage?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 16:38:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-employees-deduct-vehicle-expenses/01/25973#M198

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T16:38:49Z</dc:date>

</item>

<item>...</item>

<item>

<title>What is Medicare?</title>

<link>

https://ttlc.intuit.com/community/health-care/help/what-is-medicare/01/26668#M197

</link>

<link>...</link>

<description>

Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). The different parts of Medicare help cover specific services, like hospital stays, hospice care, doctors' and preventative services, outpatient care, medical supplies, and prescription drug coverage. Medicare Part A and Part C (Medicare Advantage) both qualify as minimum essential coverage (MEC) for the Affordable Care Act (ACA). Am I eligible? You're eligible for Medicare if you're 65 and older or have certain disabilities, including End-Stage Renal Disease. To find out if you're eligible, use the Medicare Eligibility Tool at Medicare.gov. How do I enroll? To enroll in Medicare, visit your local Social Security office or sign up online at SocialSecurity.gov. Related Information: What is the Premium Tax Credit (Related to health insurance)? Where do I enter my 1095-A? What’s my state Marketplace? How do I report and pay the Kiddie Tax on my 2019 return? What is earned income?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:03:47 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/what-is-medicare/01/26668#M197

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:03:47Z</dc:date>

</item>

<item>...</item>

<item>

<title>What is a personal exemption?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-personal-exemption/01/25617#M195

</link>

<link>...</link>

<description>

A personal exemption was a set amount you could deduct for every taxpayer and dependent on your 2017 or prior tax return. The exemption amount in tax year 2017 was $4,050 per person, subject to a phaseout at higher income levels. The personal exemption was repealed by Tax Cuts and Jobs Act (TCJA). To help offset the lost exemption, the TCJA increased the Standard Deduction amount, doubled the Child Tax Credit, and created a new Credit for Other Dependents (also known as the Family Tax Credit). Related Information: Which federal tax deductions have been suspended by tax reform?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 12:54:43 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-a-personal-exemption/01/25617#M195

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T12:54:43Z</dc:date>

</item>

<item>...</item>

<item>

<title>

Is mortgage interest on an RV or mobile home tax deductible?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-mortgage-interest-paid-on-an-rv-or-mobile-home-tax-deductible/01/25960#M194

</link>

<link>...</link>

<description>

Yes. You're allowed to deduct the interest&nbsp;on a loan secured by your main home (where you ordinarily live most of the time) and a second home. A mobile home, RV, house trailer, or houseboat that has sleeping, cooking, and toilet facilities counts as a main or second home, and as long as it meets all the other requirements for deducting mortgage interest, you can claim the interest like an immovable home.

</description>

<description>...</description>

<pubDate>Thu, 27 Aug 2020 01:01:26 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-mortgage-interest-paid-on-an-rv-or-mobile-home-tax-deductible/01/25960#M194

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-27T01:01:26Z</dc:date>

</item>

<item>...</item>

<item>

<title>Who can I claim as my dependent?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-can-i-claim-as-my-dependent/01/26781#M193

</link>

<link>...</link>

<description>

You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2019 taxes as long as they meet the following requirements: Qualifying child They're related to you. They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They're under the age of 19 (or 24 for full-time students). No age limit for permanently and totally disabled children. They lived with you for more than half the year (exceptions apply). They didn't provide more than half of their own support for the year. Qualifying relative They don't have to be related to you (despite the name). They aren't claimed as a dependent by someone else. They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident. They aren’t filing a joint return with their spouse. They lived with you the entire year. They made less than $4,200 in 2019. You provided more than half of their financial support. When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent. Related Information: Does a dependent for 2019 have to live with me? What does "financially suppo...

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 02:12:43 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-can-i-claim-as-my-dependent/01/26781#M193

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T02:12:43Z</dc:date>

</item>

<item>...</item>

<item>

<title>Can I deduct donations made last year?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-made-last-year/01/25959#M192

</link>

<link>...</link>

<description>

No, you’re only allowed to deduct donations made in the year of your tax return except if you had a charitable carryover. If you itemize deductions, then your donations to qualified charities and non-profit organizations can be deducted in the year they were made. For example, donations to Goodwill on January 2, 2019 and the Red Cross on December 31, 2019 would be deducted on your 2019 tax return. Learn more about deducting donations here. You can amend up to the last three tax years to add contributions you made in previous years but were missed when you filed. Learn more about amending your tax return here. Related Information: Can I deduct donations to charity? How do I enter a charitable carryover?

</description>

<description>...</description>

<pubDate>Mon, 31 Aug 2020 13:04:06 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-made-last-year/01/25959#M192

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-31T13:04:06Z</dc:date>

</item>

<item>...</item>

<item>

<title>

What if a family member is on my Marketplace plan but is not listed on 2019 my tax return?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/health-care/help/what-if-a-family-member-is-on-my-marketplace-plan-but-is-not-listed-on-my-tax-return/01/26677#M191

</link>

<link>...</link>

<description>

If at the time of enrollment of a family member, you indicated that this person will not be a dependent on your 2019 tax return, that person will receive their own Form 1095-A and their name will not be on Part II of your 1095-A. You may need to share this information if someone else claims the dependent on their tax return such as in divorce situations.

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 01:10:50 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/what-if-a-family-member-is-on-my-marketplace-plan-but-is-not-listed-on-my-tax-return/01/26677#M191

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T01:10:50Z</dc:date>

</item>

<item>...</item>

<item>

<title>

What health care penalty exemptions can you claim if you weren’t required to get insurance?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/health-care/help/what-health-care-penalty-exemptions-can-you-claim-if-you-weren-t-required-to-get-insurance/01/26712#M190

</link>

<link>...</link>

<description>

The Tax Cuts and Jobs Act eliminated the Affordable Care Act penalty starting with tax year 2019. The information below applies to tax year 2018 returns. The &nbsp;Affordable Care Act requires that you either have health insurance or pay a penalty on your taxes, unless you qualify for one of these penalty exemptions: You spent 330 days or more outside U.S. in 2018 You were a resident of foreign country or U.S. territory in 2018 You were not a U.S. resident in 2018 You’re a member of a health care sharing ministry in 2018 You’re an Indian tribe member or eligible for Indian health care You spent time in jail during 2018 After you complete the Health Insurance section, if you or anyone on your tax return wasn't insured, we’ll check to see if they&nbsp;can get a health insurance exemption. If so, we’ll waive the tax penalty. Related Information: Can I get a health insurance penalty exemption for 2019? What health care penalty exemptions are there for financial hardships? How much is the Affordable Care Act penalty? Related Information: Can I get a health insurance penalty exemption for 2019?

</description>

<description>...</description>

<pubDate>Mon, 31 Aug 2020 13:24:48 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/what-health-care-penalty-exemptions-can-you-claim-if-you-weren-t-required-to-get-insurance/01/26712#M190

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-31T13:24:48Z</dc:date>

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<item>...</item>

<item>

<title>

If a parent claims me as a dependent, can I claim the education tax credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/if-a-parent-claims-me-as-a-dependent-can-i-claim-the-education-tax-credit/01/26863#M188

</link>

<link>...</link>

<description>

No. If someone claims you as a dependent on their tax return, only that person can claim a credit for your qualified education expenses. Related Information:

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 02:55:43 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/if-a-parent-claims-me-as-a-dependent-can-i-claim-the-education-tax-credit/01/26863#M188

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T02:55:43Z</dc:date>

</item>

<item>...</item>

<item>

<title>Is a parsonage or housing allowance deductible?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-a-parsonage-or-housing-allowance-deductible/01/26276#M186

</link>

<link>...</link>

<description>

As a licensed, commissioned, or ordained minister, you may be able to deduct the fair market value of a home, a parsonage (in-kind housing), or a housing allowance. The deductible amount is the lowest of: The amount actually used to provide or rent a home; The fair market rental value of the home (including furnishings, utilities, garage, etc.); The amount officially designated (in advance of payment) as a rental or housing allowance; or An amount which represents reasonable pay for services. Bear in mind: A clergy person is not allowed the special housing allowance if the church has not previously designated an amount in writing. The church must have this in writing before you can use it. The housing allowance payments must be used in the year received and any allowance that exceeds actual housing expenses counts as income. Although the excludable portion of clergy housing isn't subject to federal income tax, you'll still have to pay self-employment taxes on it. Related Information: How do I enter a parsonage or housing allowance on a 1099-R? How do I enter a parsonage or housing allowance reported on a W-2? Is my clergy income subject to the self-employment tax? How do I enter a parsonage or housing allowance if I got a 1099-MISC? Related Information: How do I enter a parson...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:51:45 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-a-parsonage-or-housing-allowance-deductible/01/26276#M186

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:51:45Z</dc:date>

</item>

<item>...</item>

<item>

<title>What's my standard deduction for 2019?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-my-standard-deduction/01/26370#M185

</link>

<link>...</link>

<description>

The standard deduction is a fixed dollar amount that reduces the amount of income you get taxed on. Think of it as tax-free income that you get to keep before taxes are applied to the rest. The Tax Cuts and Jobs Act that was signed into law in late 2017 substantially increased the standard deduction for tax years 2018 through 2025. Select your filing status below to&nbsp;get your 2019 standard deduction amount. Please note that if someone else claims you (or your spouse, if you're filing jointly) as their&nbsp;dependent, your standard deduction will be less than the amounts shown below. Single Your standard deduction starts at $12,200. Add $1,650 if you were born before January 2, 1955. Add $1,650 if you were blind as of December 31, 2019. Example: Single filer Joe, who was born in 1972 and has been blind since birth, gets a standard deduction of $12,200 + $1,650 = $13,850. Married Filing Jointly or Qualified Widow(er) with Dependent Child Your standard deduction starts at $24,400. Add $1,300 if you were born before January 2, 1955. Add $1,300 if your jointly-filing spouse was born before January 2, 1955. Add $1,300 if you were blind as of December 31, 2019. Add $1,300 if your jointly-filing spouse was blind as of December 31, 2019. Example: Joint filers Pat and Tracy, who were both bor...

</description>

<description>...</description>

<pubDate>Tue, 08 Sep 2020 18:49:32 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-my-standard-deduction/01/26370#M185

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-08T18:49:32Z</dc:date>

</item>

<item>...</item>

<item>

<title>Can I deduct work-related education expenses?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-work-related-education-expenses/01/25826#M183

</link>

<link>...</link>

<description>

Work-related education expenses for employees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. In 2017 and prior tax years, unreimbursed expenses for education that maintained or improved employee job skills or was required by the employer may have been partially deductible as a miscellaneous deduction subject to the 2% rule. On the other hand, if you’re self-employed, you can deduct education expenses as long as the education maintains or improves skills required by your current line of work, or is mandated by law or industry regulations (for example, if you’re required to take X hours of continuing education every year to keep your license). But if the education only allows you to meet the minimum requirements of your present trade or business, or qualifies you for a new line of work, you cannot deduct the cost. Related Information: What is the 2% rule? Related Information: Which federal tax deductions have been suspended by tax reform?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:38:15 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-work-related-education-expenses/01/25826#M183

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:38:15Z</dc:date>

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<item>...</item>

<item>

<title>Excess charitable contributions</title>

<link>

https://ttlc.intuit.com/community/charitable-contributions/help/excess-charitable-contributions/01/25825#M182

</link>

<link>...</link>

<description>

There's a limit on how much you can deduct. The basic rule is that your cash contributions to public charities, colleges and religious groups can't exceed 60% of your adjusted gross income, or AGI. Sometimes a lower limit of 30% or even 20% is applied based on the type of organization or type of donation. When you go over the limit, you’re allowed to carry the excess forward for up to five years. We automatically carry over excess contributions to next year's return for you. Related Information: Can I deduct an in-kind charitable contribution? Can I deduct donations to charity? Are nonprofits considered qualified charitable organizations? Is volunteer work deductible? Can employees deduct commuting expenses like gas, mileage, fares, and tolls?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:38:13 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/charitable-contributions/help/excess-charitable-contributions/01/25825#M182

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:38:13Z</dc:date>

</item>

<item>...</item>

<item>

<title>

What is the Premium Tax Credit (Related to health insurance)?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-premium-tax-credit/01/26423#M181

</link>

<link>...</link>

<description>

The Premium Tax Credit is a tax credit to help make health coverage more affordable when you purchase health insurance from Healthcare.gov or a state Marketplace. You qualify for the credit if: Your health insurance plan is purchased through Healthcare.gov or a state Marketplace Your household income falls between 100% and 400% of the federal poverty level for your household size You don't file as Married Filing Separately (with exceptions for victims of domestic abuse and spousal abandonment) You can't be claimed as a dependent by another person If you qualify, you can either take your tax credit as a monthly subsidy to help pay for your insurance costs or claim the entire credit when you file your tax return. Regardless of which choice you made, when you enter the information from your 1095-A we’ll calculate your Premium Tax Credit and prepare Form 8962 for you to file with your tax return. Related Information: Should I take the Premium Tax Credit in advance as a monthly subsidy?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 22:00:35 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-premium-tax-credit/01/26423#M181

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T22:00:35Z</dc:date>

</item>

<item>...</item>

<item>

<title>

What expenses qualify for the American Opportunity Tax Credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-american-opportunity-tax-credit-and-which-ones-do-not/01/26847#M180

</link>

<link>...</link>

<description>

The following expenses qualify for the American Opportunity Tax Credit: Expenses paid for yourself, spouse, or dependent on your return Qualified education expenses that are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution Student-activity fees, but only if the fees are paid to institutions as a condition of enrollment Expenses paid for books, supplies, and equipment needed for a course of study, whether or not purchased from the educational institution The following expenses don't qualify for the American Opportunity Tax Credit: Insurance Medical expenses (including student health fees) Room and board Transportation or similar personal, living, or family expenses This is the case even if these expenses are paid to the institution as a condition of enrollment or attendance. Related Information: What education tax credits are available? Who is eligible to take the American Opportunity Tax Credit? Who is eligible for the Lifetime Learning Credit? What expenses qualify for the Lifetime Learning Credit?

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 02:41:51 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-american-opportunity-tax-credit-and-which-ones-do-not/01/26847#M180

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T02:41:51Z</dc:date>

</item>

<item>...</item>

<item>

<title>Who is eligible for the Lifetime Learning Credit?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-for-the-lifetime-learning-credit/01/26846#M179

</link>

<link>...</link>

<description>

One of the advantages of the Lifetime Learning Credit is that you can take the credit every year for higher education, as long as you meet all of these qualifying requirements: You, your dependent, or a third party paid qualified education expenses for higher education. The qualified education expenses were for an eligible student. The eligible student is you, your spouse, or a dependent on your tax return. For the full credit, your MAGI (modified adjusted gross income) is less than $58,000 ($116,000 if you are filing jointly). For a reduced credit, your MAGI is between $58,000 and $68,000 ($116,000 and $136,000 if you're filing jointly). Related Information: What education tax credits are available? Who is eligible to take the American Opportunity Tax Credit? What expenses qualify for the American Opportunity Tax Credit? What expenses qualify for the Lifetime Learning Credit?

</description>

<description>...</description>

<pubDate>Sat, 12 Sep 2020 00:40:17 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-for-the-lifetime-learning-credit/01/26846#M179

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-12T00:40:17Z</dc:date>

</item>

<item>...</item>

<item>

<title>

Who is eligible to take the American Opportunity Tax Credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-to-take-the-american-opportunity-tax-credit/01/26845#M178

</link>

<link>...</link>

<description>

Qualifications for claiming the American Opportunity Tax Credit are: You paid an eligible student's&nbsp;qualified education expenses for higher education at any college, university, or vocational school with a student aid program administered by the US Department of Education. The eligible student is you, your spouse, or a dependent on your return. For the full credit, your MAGI (modified adjusted gross income) is less than $90,000 ($180,000 if you're filing jointly). For a reduced credit, your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you're filing jointly). An eligible student is defined as a student who: Is enrolled at least half-time in a program leading to a degree, certificate, or other recognized credential. Had at least one academic period beginning during the year. Didn't claim the American Opportunity Tax Credit for more than three previous years. Didn't complete the first four years of post-secondary education before the beginning of the year. The American Opportunity Tax Credit cannot be claimed on Married Filing Separately returns nor under any of these conditions: The student is a dependent on someone else's return. The student is a nonresident alien (unless the student's spouse is a resident and they file a joint return treating both as residents...

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 02:41:45 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/who-is-eligible-to-take-the-american-opportunity-tax-credit/01/26845#M178

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T02:41:45Z</dc:date>

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<title>

What expenses qualify for the Lifetime Learning Credit?

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<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/01/26844#M177

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<link>...</link>

<description>

Generally, if you paid for qualified education expenses for an academic period beginning in any tax year or in the first three months of the next year, then you're allowed to take the Lifetime Learning Credit. Qualified expenses are tuition and certain related expenses required for enrollment at an eligible institution. The course must be either part of a post-secondary degree program or taken by the student to acquire or improve job skills. Student activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses are paid to the institution as a condition of enrollment or attendance. The maximum Lifetime Learning Credit you can claim in a year is 20% of the first $10,000 of qualified education expenses you paid for all eligible students (or up to $2,000). The credit is reduced (phased out) if your modified adjusted gross income (MAGI) is between $57,000 and $67,000 ($114,000 to $134,000 if married filing jointly). Since this isn't a refundable credit, the credit can't be more than your tax liability. Related Information: What education tax credits are available? Who is eligible to take the American Opportunity Tax Credit? What expenses qualify for the American Opportunity Tax Credit? Who is ...

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<description>...</description>

<pubDate>Tue, 11 Aug 2020 02:41:04 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-expenses-qualify-for-the-lifetime-learning-credit/01/26844#M177

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T02:41:04Z</dc:date>

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<title>Can I deduct job-search expenses?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-job-search-expenses/01/25704#M176

</link>

<link>...</link>

<description>

Job-search expenses are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. In 2017 and prior tax years, expenses that were directly and exclusively related to your job search may have been partially deductible. The search must have been for a job in your current occupation and the expenses were subject to the 2% limitation, which means they could only be partially deducted, if at all. Related Information: Which federal tax deductions have been suspended by tax reform?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 13:44:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-job-search-expenses/01/25704#M176

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T13:44:49Z</dc:date>

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<title>Can I deduct home improvements on my tax return?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-home-improvements-on-my-tax-return/01/26028#M175

</link>

<link>...</link>

<description>

On your personal residence, the answer is usually no, although you might qualify for certain kinds of energy-related home improvements. Home improvements may come into play when you sell your home because they're included in your home's adjusted cost basis. The bigger your basis, the smaller your capital gain, and that means less tax if your home sale profit exceeds $250,000 ($500,000 if you're filing jointly). Read more about the tax implications of home sales. To qualify as a tax deduction, the home improvement must: Add materially to the value of your home; or Prolong your home's useful life significantly; or Adapt your home to new uses For most people, home improvements—even major ones—won't help their taxes after the home is sold. Nevertheless, it's always a good idea to keep track of what you paid in home improvements over the years, not just for potential tax savings, but also to help justify your selling price. Related Information: Can I claim energy-efficient appliances or energy-saving home improvements? Is the money I made from a home sale taxable? Are home repairs or maintenance costs deductible? How do I handle capital improvements and depreciation for my rental?

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<description>...</description>

<pubDate>Mon, 10 Aug 2020 17:21:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-home-improvements-on-my-tax-return/01/26028#M175

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T17:21:49Z</dc:date>

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<title>Are long-term care expenses deductible?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/are-long-term-care-expenses-deductible/01/26026#M174

</link>

<link>...</link>

<description>

Expenses paid for qualified long-term care are deductible when they're required by a chronically ill individual needing assistance with daily living activities or are prescribed by a licensed health care provider. Fees paid for household services generally are excluded. The expense must be for you, your spouse, or a dependent or qualifying person.

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<pubDate>Wed, 26 Aug 2020 21:52:38 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/are-long-term-care-expenses-deductible/01/26026#M174

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-26T21:52:38Z</dc:date>

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<title>What's the income limit for education expenses?</title>

<link>

https://ttlc.intuit.com/community/college-and-education/help/what-s-the-income-limit-for-education-expenses/01/26022#M173

</link>

<link>...</link>

<description>

To qualify for the American Opportunity Credit, your modified adjusted gross income (MAGI) cannot exceed $90,000 for Single or Head of Household filers ($180,000 if Married Filing Jointly). For the Lifetime Learning Credit, your 2019 MAGI, cannot exceed $68,000 for Single or Head of Household filers ($136,000 if Married Filing Jointly). Related Information: What are qualified education expenses for the American Opportunity and Lifetime Learning credits? What is the Tuition and Fees Deduction? Can I deduct education expenses that were paid with student loans? Where do I enter a scholarship, fellowship, grant, or other financial aid I received? What are examples of education expenses?

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<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:44:48 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/college-and-education/help/what-s-the-income-limit-for-education-expenses/01/26022#M173

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:44:48Z</dc:date>

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<title>I sold my home at a loss. Is this deductible?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-at-a-loss-is-this-deductible/01/26020#M172

</link>

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<description>

You can't deduct a loss on the sale of your main home or a vacation home. This is considered a personal loss and isn't deductible for tax purposes. On the other hand, if you used the home as a rental property or it was an investment property, then you may be able to deduct the loss. TurboTax will help you figure out if you qualify for a deduction.

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<description>...</description>

<pubDate>Wed, 26 Aug 2020 18:57:32 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/i-sold-my-home-at-a-loss-is-this-deductible/01/26020#M172

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-26T18:57:32Z</dc:date>

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<title>

Can I get a refund for excess Social Security tax withheld?

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<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-get-a-refund-for-excess-social-security-tax-withheld/01/25710#M171

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<link>...</link>

<description>

Yes, you can get excess Social Security tax refunded. The procedure depends on whether the excess withholdings were caused by multiple employers exceeding the maximum or too much being withheld by a single employer. Select your situation for more info. Multiple employers For tax year 2019, you'll have excess Social Security withholdings if the sum of multiple employers' withholdings exceeds $8,239.80 per taxpayer. You don't need to take any action. We'll automatically add the excess to your federal refund or subtract it from federal taxes you owe, whichever applies. The excess will appear as a tax credit on Line 11 of your Form 1040, Schedule 3. Single employer Your employer is supposed to withhold 6.2% of your Social Security Wages (the Box 3 amount on your W-2), up to a maximum of $8,239.80 per taxpayer for tax year 2019. If one employer withheld too much Social Security tax, you won't be able to take a credit for the excess on your tax return. (TurboTax determines this by looking at your employer's EIN. In unusual cases where the employer changed their EIN during the tax year, an excess withholding credit can be taken as explained in "Multiple employers," above.) So, if your employer withheld too much, contact them and ask for: A refund for the excess amount, and A correcte...

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<pubDate>Mon, 07 Sep 2020 12:36:38 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-get-a-refund-for-excess-social-security-tax-withheld/01/25710#M171

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:36:38Z</dc:date>

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<title>

Can I deduct moving expenses if I moved twice for work?

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<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-moving-expenses-if-i-moved-twice-for-work/01/26341#M170

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<link>...</link>

<description>

For most taxpayers, moving expenses are no longer a federal deduction for tax years 2018 through 2025 due to the Tax Cuts and Jobs Act of 2017. Only active-duty military members ordered to move as the result of a permanent change of station (PCS) can deduct moving expenses in tax years 2018 – 2025. More info However, if you live in Arizona, Arkansas, California, Hawaii, Iowa, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania, or Virginia, moving expenses are still an allowable deduction on your state return whether you're active-duty military or not. Enter your moving expenses in the federal return, and we'll carry them to your state return and calculate your deduction. Related Information: Can I deduct my moving expenses? Can employees deduct any job-related expenses? Can I claim tax prep fees as a deduction? Can employees deduct commuting expenses like gas, mileage, fares, and tolls? What kinds of medical expenses are deductible?

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<pubDate>Mon, 07 Sep 2020 12:55:21 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-moving-expenses-if-i-moved-twice-for-work/01/26341#M170

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:55:21Z</dc:date>

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<title>

What sales tax payments can I claim on my federal taxes?

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<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-sales-tax-payments-can-i-claim-on-my-federal-taxes/01/26966#M169

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<description>

If you're itemizing, you get to choose between deducting your&nbsp;state and local income taxes or your&nbsp;state sales taxes. You can't claim both and you can't claim either one if you're taking the Standard Deduction. If you go with the sales tax deduction, you can claim the sales taxes you paid on just about anything you bought, whether it was purchased online or locally, in-state or out-of-state, big or small. However, for tax years 2018 through 2025, the SALT deduction (which includes sales tax) is capped at $10,000. That means if the combined total of your sales tax, real estate tax, and personal property tax amounts to $15,000, you can only deduct $10,000 maximum. Related Information: Where do I enter my sales taxes paid? Which deduction should I choose, state and local income tax or sales tax?

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<description>...</description>

<pubDate>Tue, 11 Aug 2020 03:44:52 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-sales-tax-payments-can-i-claim-on-my-federal-taxes/01/26966#M169

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T03:44:52Z</dc:date>

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<title>

Do I need to report medical expense reimbursements?

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<title>...</title>

<link>

https://ttlc.intuit.com/community/health-care/help/do-i-need-to-report-medical-expense-reimbursements/01/26018#M167

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<link>...</link>

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If the expense and reimbursement both happened in 2019, then yes. You can either subtract the reimbursement from the expenses you originally paid and enter the new expense amount, or enter it after you've finished entering all of your medical expenses. Either way, the reimbursement simply reduces your medical expense deduction by that amount. If you got a 2019 reimbursement for medical expenses you paid in 2018 or a prior year, include the reimbursement or&nbsp;the amount of the medical deduction you got in the prior year (whichever is less)&nbsp;on your 2019 taxes. Example:&nbsp;Last year, John had unusually large medical bills and was able to take the itemized deduction. He got a $1,200 medical expense deduction as a result. In 2019, he got reimbursed $800 from his insurance company. John would report the lesser amount ($800) as a miscellaneous other income item. If you weren't able to get a deduction for the medical expense (usually because you took the standard deduction in that prior year), then don't mention the reimbursement on this year's return. For more information, see Where do I enter my medical expenses? Related Information: Can I deduct a previous year's medical expenses on this year's taxes? Where do I enter my medical expenses? Am I allowed to deduct medical expenses I haven'...

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<pubDate>Mon, 07 Sep 2020 12:44:43 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/do-i-need-to-report-medical-expense-reimbursements/01/26018#M167

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:44:43Z</dc:date>

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<title>Can I deduct mortgage interest on a second home?</title>

<link>

https://ttlc.intuit.com/community/home-ownership/help/can-i-deduct-mortgage-interest-on-a-second-home/01/25849#M166

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<link>...</link>

<description>

You can deduct mortgage interest on a second home as an itemized deduction if it meets all the requirements for deducting mortgage interest. If you rent out your second home, you must also use it as a home during the year. You must use it more than 14 days or more than 10% of the total days it is rented out, whichever is longer. If you don't use the home long enough, it's considered a rental property. You can then deduct the mortgage interest as a rental expense. Mortgage interest can only be claimed on a maximum of two homes (main home and a second home). Related Information: Where do I enter my 1098 mortgage interest statement? Can I deduct interest on a home equity loan or a HELOC? Why didn't my mortgage or property taxes increase my refund? Can I deduct mortgage points? What if I don't have a 1098 mortgage interest statement?

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<pubDate>Mon, 07 Sep 2020 12:41:45 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/home-ownership/help/can-i-deduct-mortgage-interest-on-a-second-home/01/25849#M166

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:41:45Z</dc:date>

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<title>

How and where does Its Deductible obtain its values?

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<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-and-where-does-itsdeductible-obtain-its-values/01/26015#M165

</link>

<link>...</link>

<description>

When you donate an item to charity, the IRS lets you to deduct the fair market value of the item at the time of the donation. The IRS defines fair market value as the sale price between a willing buyer and seller, where neither is required to buy or sell and both have relevant knowledge of the facts. To determine the fair market value of a particular item, one method recommended by the IRS is to check the price of similar-selling items from a variety of sources – and that's exactly what ItsDeductible does. How does ItsDeductible determine the fair market value? Every day, we're collecting info from thousands of completed eBay auctions to capture valuations that are not commonly found in thrift, consignment, or specialty stores. We then perform a statistical analysis to determine the fair market value of the item, which in turn gets translated to a high, medium, or low value. In addition, we also collect pricing information through manual processes, for example surveying thrift and consignment stores across the country. This combo of electronic and manual price-collection allows us to create a comprehensive, up-to-date collection of values based on real-world transactions that comply with IRS guidelines. What about the Goodwill and Salvation Army valuation guidelines? Using val...

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<pubDate>Mon, 10 Aug 2020 17:13:55 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/how-and-where-does-itsdeductible-obtain-its-values/01/26015#M165

</guid>

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<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T17:13:55Z</dc:date>

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<title>Can I deduct mileage?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mileage/01/26179#M164

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<link>...</link>

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Mileage is an allowable deduction if you’re self-employed or own your own business. You can choose between the standard mileage rate or the actual cost method where you keep track of what you paid for gas and maintenance. To use the standard mileage rate, you must keep a log of each trip with miles driven during the first year your vehicle is used for business. After that, you can either go with standard mileage or actual cost (unless you lease, in which case you must stick with standard mileage for the duration of the lease). Taxpayers can also claim mileage for medical or charitable purposes, and active-duty military can claim mileage for the move to a permanent change of station (PCS) under military orders. Employees can no longer deduct work-related mileage in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Prior to the tax law change, employees could deduct mileage for commuting between multiple job sites during the same day, as well as commutes to temporary work locations and offsite business meetings. Related Information: What are the standard mileage rates? Can I deduct medical mileage and travel? Can employees deduct commuting expenses like gas, mileage, fares, and tolls? Can I deduct my moving ex...

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<pubDate>Mon, 10 Aug 2020 19:12:40 GMT</pubDate>

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https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-mileage/01/26179#M164

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<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T19:12:40Z</dc:date>

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<title>

Why is my 2019 Child Tax Credit smaller than last year's?

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<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/why-is-my-child-tax-credit-smaller-than-last-year-s/01/26758#M162

</link>

<link>...</link>

<description>

If your 2019 Child Tax Credit is less&nbsp;than your 2018 credit, it's probably because one or more children celebrated their 17th birthday in 2019. Other, less common reasons your 2019 Child Tax Credit is less than your 2018 credit include: One or more children lived with you for less than half the year in 2019 but lived with you for half the year (or more) in 2018. One or more children paid more than half of their own expenses in 2019, but didn't in 2018. Your 2019 AGI increased to $400,000 or more (joint filers) or $200,000 or more (all others). See the qualifications for the&nbsp;Child Tax Credit and the Credit for Other Dependents. Related Information: Why can't I claim any Child Tax Credit this year? What is the Child Tax Credit? What is the Additional Child Tax Credit? Why don't I qualify for EIC? Why is my 2019 Child Tax Credit smaller than last year's? Related Information: Why can't I claim any Child Tax Credit this year? What is the $500 Credit for Other Dependents (“Family Tax Credit”)?

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<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:04:56 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/why-is-my-child-tax-credit-smaller-than-last-year-s/01/26758#M162

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:04:56Z</dc:date>

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<title>Is canceled, forgiven, or discharged debt taxable?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-canceled-forgiven-or-discharged-debt-taxable/01/25790#M161

</link>

<link>...</link>

<description>

Most likely. Canceled, forgiven, or discharged debt is considered taxable income unless it qualifies for either an exclusion or an exception. Debt that qualifies for an exclusion Cancelation of qualified principal residence indebtedness (aka&nbsp;mortgage debt relief). In this scenario, TurboTax will complete Form 982 and include it with your return. Debt canceled under Title 11 bankruptcies* Debt (the amount exceeding your assets) canceled during insolvency* Cancelation of qualified farm or real property indebtedness* *You can report this type of excludable debt in the TurboTax CD/Download software; it's not supported in TurboTax Online or the mobile app. Due to the complexity of this topic, we recommend consulting a tax professional. Also see IRS Publication 4681 for more info. Debt that qualifies for an exception Certain qualified student loans Money excluded from income by law, such as gifts or bequests Canceled debt that if paid by a cash-basis taxpayer would otherwise be deductible A qualified purchase price reduction given by a seller Any Pay-for-Performance Success Payments that reduce the principal balance of your mortgage under the Home Affordable Modification Program Normally debt is reported on Form 1099-C. However, if you get a&nbsp;1099-C for debt that a creditor is still ...

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<description>...</description>

<pubDate>Mon, 10 Aug 2020 14:32:50 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-canceled-forgiven-or-discharged-debt-taxable/01/25790#M161

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T14:32:50Z</dc:date>

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<title>Can I deduct travel expenses?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-travel-expenses/01/25792#M160

</link>

<link>...</link>

<description>

If you’re self-employed or own a business, you can deduct work-related travel expenses, including vehicles, airfare, lodging, and meals. The expenses must be ordinary and necessary. For vehicle expenses, you can choose between the standard mileage rate or the actual cost method where you track what you paid for gas and maintenance. You can claim 50% of the cost of your meals while on business-related travel away from your tax home, provided your trip requires an overnight stay. You can also deduct 50% of the cost of meals for entertaining clients (regardless of location), but due to the Tax Cuts and Jobs Act of (TCJA), you can no longer deduct entertainment expenses in tax years 2018 through 2025. On the other hand, employees can no longer deduct out-of-pocket travel costs in tax years 2018 through 2025 per the TCJA. Prior to the tax rule change, employees could claim 50% of the cost of unreimbursed meals while on business-related travel away from their tax home if the trip required an overnight stay, as well as other unreimbursed job-related travel costs. These expenses were handled as a 2% miscellaneous itemized deduction. Related Information: What is the 2% rule? Which federal tax deductions have been suspended by tax reform? What types of meal and entertainment expenses ar...

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<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:37:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-travel-expenses/01/25792#M160

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:37:49Z</dc:date>

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<title>What is Schedule A?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-schedule-a/01/26167#M159

</link>

<link>...</link>

<description>

The IRS lets you take either the Standard Deduction&nbsp;or the itemized deduction. If you itemize, we'll automatically fill out Schedule A, Itemized Deductions and switch you over to the 1040 long form. Schedule A lets you report certain deductible expenses like: Medical and dental costs above and beyond 7.5% of your AGI State, local, real estate, and personal property taxes Home mortgage interest Charitable donations and gifts Casualty losses (losses caused by a sudden, unexpected, or unusual event) to personal property are only deductible if covered by specific federal disaster declarations. After you finish going through the Deductions &amp; Credits section, we'll recommend whichever deduction – standard or itemized – gives you the biggest tax break. But you can always override our recommendation if you wish. Schedule A is supported in the paid versions of TurboTax. Related Information: How does the Standard Deduction differ from itemizing deductions? How do I change from the standard deduction to itemized (or vice-versa)? What's my standard deduction for 2019? Can I still itemize my deductions? Did I itemize last year? Related Information: How does the Standard Deduction differ from itemizing deductions? Can I still itemize my deductions? How do I change from the standard deductio...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:50:20 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-schedule-a/01/26167#M159

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:50:20Z</dc:date>

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<title>Can I deduct union dues?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-union-dues/01/26166#M158

</link>

<link>...</link>

<description>

If you’re self-employed, you can deduct union dues as a business expense. However, most employees can no longer deduct union dues on their federal tax return in tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. However, the job-related expenses deduction is still available to people who work in one of these specific professions or situations: Armed Forces reservist Qualified performing artist Fee-basis state or local government official You're disabled and have impairment-related expenses Additionally, job-related expenses may be deductible in your state. Enter your expenses and we’ll figure out if you can deduct them.

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 19:05:51 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-union-dues/01/26166#M158

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T19:05:51Z</dc:date>

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<item>

<title>

Can I claim energy-efficient appliances or energy-saving home improvements?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-energy-efficient-appliances-or-energy-saving-home-improvements/01/25788#M157

</link>

<link>...</link>

<description>

You can't claim Energy Star appliances or water-saving improvements like low-flow toilets, low-flow shower-heads, or xeriscaping on your federal return. However, many state and local governments and utility companies offer incentives or rebates for energy- or water-saving home improvements. An online search will reveal what your state has to offer (for example, you might search for&nbsp;Arizona toilet rebate or California water saving incentives). Under the Residential Energy Efficient Property Credit, you can get a federal tax credit for installing alternative energy equipment, such as solar electric property, solar water heaters, geothermal heat pumps, small wind turbines, and fuel cell property. If you made energy efficient improvements to your home like energy-saving roofs, windows, skylights, and doors, you'll be able to claim the Nonbusiness Energy Property Credit for 10% of amounts paid for qualified energy efficiency improvements, up to a lifetime cap of $500 or fixed dollar amounts ranging from $50 to $300 for energy efficient property, including furnaces, boilers, biomass stoves, heat pumps, water heaters, central air conditioners, and circulating fans. Related Information: Where do I enter qualified energy-saving improvements? Can I deduct home improvements on my tax ret...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:37:45 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-energy-efficient-appliances-or-energy-saving-home-improvements/01/25788#M157

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:37:45Z</dc:date>

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<item>

<title>Does TurboTax support the Idaho grocery credit?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/does-turbotax-support-the-idaho-grocery-credit/01/25921#M156

</link>

<link>...</link>

<description>

Yes. When you prepare your Idaho return in TurboTax, look for the Grocery Credit screen. Follow the instructions to claim the credit. The credit is reported on Form 40 (or Form 24, if you or your spouse is 65 or older). More information about the grocery credit is available at the Idaho State Tax Commission's website. Related Information: What forms of payment does TurboTax Online accept?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:43:03 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/does-turbotax-support-the-idaho-grocery-credit/01/25921#M156

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:43:03Z</dc:date>

</item>

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<item>

<title>What are the standard mileage rates?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-standard-mileage-rates/01/26162#M155

</link>

<link>...</link>

<description>

The standard mileage rates are: &nbsp;Miles Driven for: &nbsp; &nbsp;&nbsp;2019 rate (cents per mile) &nbsp; &nbsp; 2018 rate (cents per mile) Business &nbsp;58 &nbsp;54.5 Medical or Moving 20 &nbsp;18 Charitable purposes &nbsp;14 &nbsp;14 To take the standard mileage deduction for business, you can't: Operate more than four vehicles at the same time, as in a fleet operation Claim a depreciation deduction on the car (other than the straight-line method) Claim a Section 179 deduction on the car Claim a special depreciation allowance on the car Have claimed actual expenses after 1997 for a leased car Be a rural mail carrier who received a "qualified reimbursement" To use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. Then, in later years, you can choose to use the standard mileage rate or actual expenses. For a car you lease, you must use the standard mileage rate method for the entire lease period (including renewals) if you choose the standard mileage rate. Related Information: Can I deduct mileage?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 18:59:49 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-are-the-standard-mileage-rates/01/26162#M155

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T18:59:49Z</dc:date>

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<item>

<title>I refinanced my home, what can I deduct?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/i-refinanced-my-home-what-can-i-deduct/01/27091#M154

</link>

<link>...</link>

<description>

You may be able to&nbsp;deduct: Mortgage interest Points Real estate/property taxes You'll receive two 1098 forms. Enter both of them (first the one from your original loan, then the one from your refinance), but don't add them together. We'll need to know which loan was paid off. When you get to that screen be sure to indicate that it was paid off. You may also be able to deduct some items on your closing statement so have it handy. Don't worry, we'll help you enter the information as you go. If your mortgage was transferred from one company to another, you'll also receive two 1098 forms. This is pretty common and isn't considered refinancing. You're still paying off your original mortgage, even if it's now held by a different company. If you didn't get a new loan, then you haven't refinanced. Related Information: Where do I enter my 1098 mortgage interest statement? Where do I enter my real estate (property) taxes in TurboTax Online? How do I handle multiple 1098 mortgage forms?

</description>

<description>...</description>

<pubDate>Thu, 27 Aug 2020 00:46:38 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/i-refinanced-my-home-what-can-i-deduct/01/27091#M154

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-27T00:46:38Z</dc:date>

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<item>

<title>Can I claim my student loan?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-student-loan/01/26158#M153

</link>

<link>...</link>

<description>

You can't claim the loan itself, but the interest you paid during the year on a qualified student loan used to pay for tuition, fees, room and board, books and supplies for yourself, your spouse, or your dependent is deductible. This includes both required and voluntarily pre-paid interest payments. Student loan interest is reported on&nbsp;Form 1098-E. If you paid interest of $600 or more on a qualified student loan during the year, you'll receive this form from your lender. Here's how to enter your student loan interest in TurboTax. We'll ask you questions to make sure you qualify, and also calculate how much of a deduction you’re entitled to. You claim this deduction as an adjustment to income, so you don't need to itemize your deductions. How much can I deduct? You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status. Qualifications: You can claim the deduction if all of the following apply: You paid interest on a qualified student loan in tax year 2019. You can take the deduction as a student, or as a parent making payments on your dependent student’s loan. However...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:50:12 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-my-student-loan/01/26158#M153

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:50:12Z</dc:date>

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<title>

Are charitable donations made to an organization located in a foreign country tax deductible?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/charitable-contributions/help/are-charitable-donations-made-to-an-organization-located-in-a-foreign-country-tax-deductible/01/25841#M152

</link>

<link>...</link>

<description>

Foreign donations aren't deductible unless they're either: Made to a U.S. organization that transfers funds to a foreign organization but retains control of their use (or the foreign organization is part of the U.S. organization) Made to some Canadian, Israeli, or Mexican charitable organizations (but only if you also have income from that country) Related Information: Where do I enter the foreign tax credit (Form 1116) or deduction for 2019? What does or doesn't qualify for the Foreign Tax Credit? Why doesn't the foreign tax credit show up on Schedule 3, Line 48 of my 1040? Can I claim energy-efficient appliances or energy-saving home improvements? Can employees deduct any job-related expenses?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:38:27 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/charitable-contributions/help/are-charitable-donations-made-to-an-organization-located-in-a-foreign-country-tax-deductible/01/25841#M152

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:38:27Z</dc:date>

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<title>

What is the Plug-in Electric Drive Motor Vehicle Credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-plug-in-electric-drive-motor-vehicle-credit/01/25840#M151

</link>

<link>...</link>

<description>

Reported on Form 8936, the Plug-In Electric Drive Motor Vehicle Credit applies to certain manufactured electric or plug-in hybrid electric vehicles which draw electricity from a battery recharged from an external source of electricity. The credit ranges from $2,500 to $7,500, depending on battery capacity and weight. &nbsp;

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 15:07:43 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-plug-in-electric-drive-motor-vehicle-credit/01/25840#M151

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T15:07:43Z</dc:date>

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<title>Can I deduct medical, dental, and vision expenses?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-medical-dental-and-vision-expenses/01/25918#M149

</link>

<link>...</link>

<description>

To deduct unreimbursed, out-of-pocket medical, dental, and vision costs on your federal return: You must take the itemized deduction; The expenses for you, your jointly-filing spouse, and your dependent(s) must exceed 7.5% of your AGI (adjusted gross income); and Only the portion above and beyond 7.5% of your AGI is deductible. For example, if your AGI happens to be $100,000, you can deduct the portion of your expenses exceeding 7.5% of your AGI ($7,500). If your total expenses for the year came in at $6,000, you wouldn't be able to deduct any of it, but if they were $10,000 you could deduct the portion over and beyond $7,500, which would be $2,500 – provided you're itemizing of course. That said, go ahead and enter all of your out-of-pocket expenses, even if you don't think they qualify as a deduction. Some states will let you&nbsp;deduct them on your state return even if you couldn't deduct them on your federal return. We'll figure that out for you. Related Information: What kinds of medical expenses are deductible? Can I deduct health insurance premiums taken from my paycheck? Can I deduct medical costs paid with HSA or MSA funds? Can I deduct Medicare premiums? Am I allowed to deduct medical expenses I haven't paid for yet? Where do I enter my medical expenses?

</description>

<description>...</description>

<pubDate>Thu, 13 Aug 2020 06:58:11 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-medical-dental-and-vision-expenses/01/25918#M149

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-13T06:58:11Z</dc:date>

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<title>Can I deduct property (real estate) taxes?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes/01/25796#M148

</link>

<link>...</link>

<description>

Real estate taxes (also called "property taxes") for your main home,&nbsp;vacation home, or land are an allowable deduction if they're based on the assessed value of the property and the property is for your own personal use. Whether you'll actually get a deduction on your taxes is another story, as several changes enacted by tax reform have impacted this deduction. For one, you won't be able to deduct your property taxes if you're taking the Standard Deduction. Even if you itemize, the SALT deduction, which includes property tax, is now capped at $10,000 ($5,000 for couples filing separately). This means taxpayers who live or own property in states with high property taxes may not be getting as big a deduction as they have in years past. That said, you should still enter your property taxes in TurboTax. We'll figure out what amount, if any, is deductible. Be sure to include property taxes paid at closing as well as the annual property tax paid to your assessor. Don't include: Taxes you paid on property you don't own Taxes for rental or business property (instead of entering them in the Deductions Credits section, you'll claim them as expenses when you get to the rental or business section) Taxes for local improvements, like streets or sidewalks School taxes,&nbsp;unless they are based ...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:37:52 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes/01/25796#M148

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:37:52Z</dc:date>

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<title>Is room and board deductible?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-room-and-board-deductible/01/26154#M147

</link>

<link>...</link>

<description>

Generally, no. Room and board usually isn't considered a qualified education expense for the purpose of education credits. The one exception is if room and board was paid for with a Coverdell ESA or 529 plan distribution. In that case, the cost can be deducted from the taxable portion of the plan's distribution. Related Information: Can I deduct home improvements on my tax return? Is my clergy income subject to the self-employment tax? How do I enter a parsonage or housing allowance on a 1099-R? What can I deduct when refinancing rental property? How do I enter a parsonage or housing allowance reported on a W-2?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:50:06 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/is-room-and-board-deductible/01/26154#M147

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:50:06Z</dc:date>

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<title>Is the money I made from a home sale taxable?</title>

<link>

https://ttlc.intuit.com/community/home-ownership/help/is-the-money-i-made-from-a-home-sale-taxable/01/25690#M146

</link>

<link>...</link>

<description>

Great news! You won't pay taxes on the first $250,000 (also known as a gain) you make from the sale of your home. If you file jointly, you won't&nbsp;pay taxes on the first $500,000. That income is free and clear as long as: You owned the home. It was your main home for two years or more within the five years leading up to the sale. You waited at least two years between selling your primary home and excluding your first $250,000 or $500,000 from taxes. In other words, you may buy and sell as many primary homes as you'd like, but you'll only get this tax benefit every two years. When you sell a second home, the tax situation is different. TurboTax will show you if your home sale is taxable. Open or continue your return in TurboTax. Search for home sale. Select the Jump to link in the search results. Answer Yes to Did you sell or have your home foreclosed in 2019? on the&nbsp;Sale of Your Main Home screen. Follow the instructions to enter your info. Related Information: I sold my home at a loss. Is this deductible? Can I claim property (real estate) taxes if I recently bought or sold my home? Where do I enter the sale of a second home, an inherited home, or land on my 2019 taxes?

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 13:36:47 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/home-ownership/help/is-the-money-i-made-from-a-home-sale-taxable/01/25690#M146

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T13:36:47Z</dc:date>

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<title>

Why didn't I get a credit or deduction for education expenses?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/college-and-education/help/why-didn-t-i-get-a-credit-or-deduction-for-education-expenses/01/26936#M145

</link>

<link>...</link>

<description>

To get a credit for education expenses, you have to pay tuition or related costs for yourself, your spouse, or a dependent on your return. If you paid tuition or other education expenses for someone who's claimed on another person's return, you won't qualify. Here are other common reasons you might not qualify: You're filing your return as Married Filing Separately. Your adjusted gross income (AGI) is too high. American Opportunity Tax Credit AGI limit is $90,000 ($180,000 for joint returns). Lifetime Learning Credit AGI limit is $68,000 ($136,000 for joint returns). Your expenses were paid with tax-free scholarships, fellowships, grants, education savings account funds, tax-free savings bond interest, or employer-provided education assistance. Related Information: Who is eligible to take the American Opportunity Tax Credit? What expenses qualify for the American Opportunity Tax Credit? Who is eligible for the Lifetime Learning Credit? What expenses qualify for the Lifetime Learning Credit? What is the Tuition and Fees Deduction?

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 03:30:48 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/college-and-education/help/why-didn-t-i-get-a-credit-or-deduction-for-education-expenses/01/26936#M145

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T03:30:48Z</dc:date>

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<title>

What's the income limit for the American Opportunity and Lifetime Learning Credits?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-the-income-limit-for-the-american-opportunity-and-lifetime-learning-credits/01/26155#M144

</link>

<link>...</link>

<description>

To qualify for the American Opportunity Credit, your 2019 modified adjusted income or MAGI can't exceed $90,000 ($180,000 if filing jointly). For the Lifetime Learning Credit, your 2019 MAGI can't exceed $68,000 ($136,000 if filing jointly).

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 18:52:52 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-the-income-limit-for-the-american-opportunity-and-lifetime-learning-credits/01/26155#M144

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T18:52:52Z</dc:date>

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<title>Can I deduct donations to charity?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-to-charity/01/25689#M143

</link>

<link>...</link>

<description>

Yes, you can deduct charitable donations if you make them to qualified organizations and you itemize deductions. You're even allowed to deduct expenses directly related to charity work, such as mileage or parking. Keep your receipts or other documentation for all of your charitable donations with your tax records. You're not allowed to deduct cash or property given directly to another person, family, or group that isn't a qualified organization. The amount you can deduct is limited, depending on what you donate and the type of charity. &nbsp;We'll figure it out after you import your donations from ItsDeductible or manually enter them. If you can't deduct all of your donations this year, we'll see if the remainder can be carried forward to next year. Related Information: How do I enter my 2019 charitable donations in TurboTax? Do I need a receipt for my donation? What is a qualified charitable organization? Is volunteer work deductible? How does the Standard Deduction differ from itemizing deductions? Related Information: How does the Standard Deduction differ from itemizing deductions? Do I need a receipt for my donation? Is volunteer work deductible? What is a qualified charitable organization? Are nonprofits considered qualified charitable organizations? How do I enter my 2019 ch...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:36:21 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-donations-to-charity/01/25689#M143

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:36:21Z</dc:date>

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<title>

Can I claim both the Health Coverage Tax Credit and the Premium Tax Credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-both-the-health-coverage-tax-credit-and-the-premium-tax-credit/01/27013#M142

</link>

<link>...</link>

<description>

Yes, you can claim both, but not for simultaneous coverage over the same time frame. In other words, you can’t claim both the HCTC and the PTC for the same coverage during the same coverage months. If you were enrolled in Health Insurance Marketplace coverage, you must reconcile any advance payments of the PTC you received. Enter your 1095-A as it appears in the Health Insurance tab and don’t claim any months for HCTC when you were insured under a Marketplace plan. Related Information: What types of health insurance qualify for the Health Coverage Tax Credit? How do I claim the Health Coverage Tax Credit? How do I delete Form 8885, Health Coverage Tax Credit? What is the Health Coverage Tax Credit? Related Information: How do I claim the Health Coverage Tax Credit? What is the Health Coverage Tax Credit? What types of health insurance qualify for the Health Coverage Tax Credit? How do I delete Form 8885, Health Coverage Tax Credit?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:10:20 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-both-the-health-coverage-tax-credit-and-the-premium-tax-credit/01/27013#M142

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:10:20Z</dc:date>

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<title>

What types of health insurance qualify for the Health Coverage Tax Credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/health-care/help/what-types-of-health-insurance-qualify-for-the-health-coverage-tax-credit/01/27014#M141

</link>

<link>...</link>

<description>

There are several types of health insurance that qualify you for the 2019 Health Coverage Tax Credit (HCTC). However, contributions by your employer or your spouse’s employer may limit your qualification. COBRA Group health plan available through the employment of your spouse Employee benefit plan funded by a voluntary employees’ beneficiary association (VEBA) Individual health insurance plan, not including coverage through a Health Insurance Marketplace State-qualified health plans established prior to January 1, 2014 Health insurance plans that don’t qualify for the credit: Health Insurance Marketplace coverage for 2019 Flexible spending or similar arrangements and any insurance that’s purchased separately and not paid for as a comprehensive package, like dental or vision plans For detailed eligibility information on qualified health insurance plans, follow this link. Related Information: What is the Health Coverage Tax Credit? Can I claim both the Health Coverage Tax Credit and the Premium Tax Credit? How do I claim the Health Coverage Tax Credit? How do I delete Form 8885, Health Coverage Tax Credit? Related Information: What is the Health Coverage Tax Credit? How do I claim the Health Coverage Tax Credit? Can I claim both the Health Coverage Tax Credit and the Premium Tax...

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:10:22 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/what-types-of-health-insurance-qualify-for-the-health-coverage-tax-credit/01/27014#M141

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:10:22Z</dc:date>

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<title>How do I claim the Health Coverage Tax Credit?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-health-coverage-tax-credit/01/27015#M140

</link>

<link>...</link>

<description>

Sign in to your account and select Continue to pick up where you left off in your tax return. From the upper right menu, select&nbsp;and search for&nbsp;TAA. Select the Jump to&nbsp;link at the top of your search results. This will take you directly to the Health Coverage Tax Credit section. We’ll ask you some questions to determine if you qualify for the credit, and you’ll also enter the amount of your qualified health insurance premiums. You'll need to attach certain documents that prove you were eligible to claim the credit, that your 2019 health insurance plan was qualified, and that the premiums claimed for your 2019 coverage were paid. Required documentation reflecting that you were an eligible individual for the months claimed in 2019: For trade certified individuals demonstrating TAA, alternative TAA, or reemployment TAA eligibility—a copy of the official letter from the Department of Labor, your state workforce agency or employment office stating you are eligible for trade adjustment benefits For PBGC eligibility—a copy of the official letter from the PBGC stating you received a benefit paid by the PBGC or a copy of your Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, from the PBGC showing you received a benefit pai...

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 04:12:48 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-claim-the-health-coverage-tax-credit/01/27015#M140

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T04:12:48Z</dc:date>

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<item>...</item>

<item>

<title>

How do I repay the 2008 first-time homebuyer credit?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-repay-the-2008-first-time-homebuyer-credit/01/25911#M139

</link>

<link>...</link>

<description>

If you took advantage of the 2008 First-Time Homebuyer Credit (which was actually an interest-free loan), you'll repay it in equal portions for 15 years,&nbsp;starting with your 2010 tax return. Your repayment is an additional tax that will either lower your refund or increase your tax bill through tax year 2025.&nbsp;If you got the full $7500 credit, the additional tax is $500 per year; otherwise, if you got less than that, your repayment is 6.66% of the total loan amount. To get to this section in TurboTax, search for homebuyer credit in your TurboTax program and select the Jump to&nbsp;link&nbsp;in the search results. Then, answer yes, enter the date your home was purchased, and follow the on-screen instructions. We'll calculate the tax and handle the rest. Related Information: How do I add or remove Form 5405 for the first-time homebuyer credit? What would cause me to have to repay the first-time homebuyer credit ahead of schedule? For the first-time homebuyer credit, how would the IRS know if I sold the home? Related Information: What would cause me to have to repay the first-time homebuyer credit ahead of schedule? For the first-time homebuyer credit, how would the IRS know if I sold the home? How do I add or remove Form 5405 for the first-time homebuyer credit?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:42:55 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/how-do-i-repay-the-2008-first-time-homebuyer-credit/01/25911#M139

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:42:55Z</dc:date>

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<item>...</item>

<item>

<title>What is the Child and Dependent Care Credit?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-child-and-dependent-care-credit/01/25907#M138

</link>

<link>...</link>

<description>

The Child and Dependent Care Credit (not to be confused with the similar-sounding Child Tax Credit) can reduce your tax bill if you paid for a dependent's care so that you could work or look for work. To qualify for this credit, you must meet all of these criteria: You (and your spouse, if filing jointly) must have earned income. The earned income requirement for one spouse is waived if s/he was a full-time student or disabled (if they lived with your spouse for more than 6 months in 2019). You paid caregiving expenses so that you (and your spouse, if filing jointly) could work or look for work. The work/look for work requirement for one spouse is waived if s/he&nbsp;was a full-time student or disabled (if they lived with the other spouse for more than 6 months in 2019). You paid a caregiver&nbsp;to care for a Qualifying Person. The caregiver can't be: Your spouse Your dependent Your child if they were under 19 on the last day of 2019, even if not your dependent The parent of the Qualifying Person, if the Qualifying Person is your child under the age of 13 during 2019 You can't file with the Married Filing Separately filing status (except under certain circumstances). You must furnish the care provider's name, address, and (unless it's a tax-exempt organization) their SSN, ITIN, or EIN ...

</description>

<description>...</description>

<pubDate>Mon, 10 Aug 2020 15:49:48 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/what-is-the-child-and-dependent-care-credit/01/25907#M138

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-10T15:49:48Z</dc:date>

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<item>...</item>

<item>

<title>What’s my state Marketplace?</title>

<link>

https://ttlc.intuit.com/community/health-care/help/what-s-my-state-marketplace/01/26666#M137

</link>

<link>...</link>

<description>

Below is a list of the states with their own Health Insurance Marketplaces. If your state is not listed, use Healthcare.gov or call 800-318-2596. California: Covered California or call 800-300-1506 Colorado: Connect for Health Colorado or call 855-752-6749 Connecticut: Access Health CT or call 855-805-4325 District of Columbia: DC Health Link or call 855-532-5465 Idaho: Your Health Idaho or call 855-944-3246 Kentucky: kynect: Kentucky Health Benefit Exchange&nbsp;or call 855-459-6328 Maryland: Maryland Health Connection or call 855-642-8572 Massachusetts: Massachusetts Health Connector or call 877-623-6765 Minnesota: MNSure or call 855-366-7873 Nevada: Nevada Health Link&nbsp;or call 855-547-2927 New Mexico:&nbsp; BeWellNM or call 833-862-3935 New York State: NY State of Health or call 855-355-5777 Rhode Island: HealthSource RI&nbsp;or call 855-840-4774 Vermont: Vermont Health Connect or call 855-899-9600 Washington State: Washington Healthplanfinder or call 855-923-4633

</description>

<description>...</description>

<pubDate>Tue, 18 Aug 2020 14:53:20 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/what-s-my-state-marketplace/01/26666#M137

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-18T14:53:20Z</dc:date>

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<item>

<title>What is the Health Coverage Tax Credit?</title>

<link>

https://ttlc.intuit.com/community/health-care/help/what-is-the-health-coverage-tax-credit/01/27012#M136

</link>

<link>...</link>

<description>

The Health Coverage Tax Credit (HCTC) is a refundable tax credit that pays 72.5% of qualified health insurance premiums for eligible individuals and their families. If you qualify for HCTC, it’s claimed on Form 8885. To qualify for this credit, you must have received one of the following types of assistance: Eligible for the Trade Adjustment Assistance (TAA) program and received a Trade Readjustment Allowance or was entitled to receive TRA except you hadn’t exhausted your unemployment insurance Benefits under the Alternative Trade Adjustment Assistance (ATAA) program Benefits from the Reemployment Trade Adjustment Assistance (RTAA) program Pension benefit payments from the Pension Benefit Guarantee Corporation (PBGC) and be age 55 to 65 You are not eligible for the HCTC if you: Can be claimed as a dependent on another person’s federal income tax return Are enrolled in Medicare, Medicaid, the Children’s Health Insurance Program, or the Federal Employees Health Benefits Program or are eligible to receive benefits under the U.S. military health system (TRICARE) Related Information: What types of health insurance qualify for the Health Coverage Tax Credit? How do I claim the Health Coverage Tax Credit?

</description>

<description>...</description>

<pubDate>Tue, 11 Aug 2020 04:11:45 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/health-care/help/what-is-the-health-coverage-tax-credit/01/27012#M136

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-08-11T04:11:45Z</dc:date>

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<title>

Can I deduct property (real estate) taxes on my rental?

</title>

<title>...</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes-on-my-rental/01/27182#M135

</link>

<link>...</link>

<description>

If you rent it out and don't live there yourself, you can claim property taxes on your rental as an expense against your rental income. However, if you're renting out a portion of your own home, you're eligible for a prorated deduction for the portion of the home you live in with the remainder written off as a rental expense. Either way, enter the property tax where you enter all your other rental expenses. If you also live there, we'll calculate your personal deduction based on the portion you live in. Don't enter your property tax again in the&nbsp;Deductions &amp; Credits&nbsp;section, as we've already taken care of that in the rental section. Related Information: Where do I enter income and expenses from a rental property? What kinds of rental property expenses can I deduct? Where do I enter my real estate (property) taxes in TurboTax Online? What can I deduct when refinancing rental property? Where can I find out how much property (real estate) tax I paid? Related Information: Where do I enter income and expenses from a rental property? What kinds of rental property expenses can I deduct?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 13:12:08 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-property-real-estate-taxes-on-my-rental/01/27182#M135

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T13:12:08Z</dc:date>

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<item>

<title>Can I claim tax prep fees as a deduction?</title>

<link>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-tax-prep-fees-as-a-deduction/01/26321#M134

</link>

<link>...</link>

<description>

Unless you’re self-employed, tax preparation fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Self-employed taxpayers can still write off their tax prep fees as a business expense. Prior to 2018, taxpayers who weren’t self-employed were allowed to claim tax prep fees as a 2% miscellaneous deduction. However, few taxpayers were able to take advantage of this deduction due to the restrictive conditions of the 2% rule. Related Information: What did I pay last year for TurboTax? What is the 2% rule? Which federal tax deductions have been suspended by tax reform? Can employees deduct any job-related expenses? Related Information: What did I pay last year for TurboTax?

</description>

<description>...</description>

<pubDate>Mon, 07 Sep 2020 12:52:27 GMT</pubDate>

<guid>

https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-claim-tax-prep-fees-as-a-deduction/01/26321#M134

</guid>

<guid>...</guid>

<dc:creator>TurboTax Help</dc:creator>

<dc:date>2020-09-07T12:52:27Z</dc:date>

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