Tax Credits and Tax Deductions | TurboTax® Support

Deductions & credits

Favorite Tax Deductions & Credits for Families!

Everyone knows there are tax benefits to having children and dependents and some are pretty amazing! If you’ve ever had questions about the popular Child Tax Credit (CTC) or Earned Income Credit (EIC), this is the place to be! TurboTax does the think... read more

Tax Deductions Worth Looking Into!

It seems the most popular question at tax time is “Can I deduct this…?”. Of course you don’t want to pay more taxes than you need to; and you want to get all the tax deductions and credits you’re entitled to take. The resources below have helped many... read more

Foreign Rental shows a loss on Schedule E. Can you still deduct an FTC for taxes paid to the foreign country?

I have a rental condo in Spain for which I have paid 24% taxes. Spain does not allow to take any deductions. I am not a Real State Agent / Professional. However, I have selected "Active Participant" because I own the place and I make management decis... read more

Employees broke a machine!!!!

I had employees break a machine. The fix cost 400 and did not go through liability insurance. Can i use the 400 as an expense/tax write off?

Trustee Fee Deduction for a irrevocable grantor trust(IDGT)

Fiduciary fee (professional trustee fee) are deductible for Non Grantor Trusts under section 67(e), correct?What happens if the trust is a grantor trust- Can the professional trustee fee still be deducted? If so, I don't see it under miscellaneous de... read more

Payment from Hanet et al VS Genworth

I was offered 3 options in a settlement and opted for the optiion that gave me significantly reduced benefits, if needed, no more premiums due and a check for $10,000. It left my available benefits at about 1/4 of what they were. I paid premiums with... read more

Health Imputed Income - Massachusetts

What is the tax rate for Health Imputed Income in Massachusetts and should taxes be taken on Federal, State, Medicare, SS, PFMLA & PFMA?

2024 turbotax for windows will not let me edit the property tax field

Is it too early for this field to be functional yet?

Had a house fire and continued to pay taxes on it for the remainder of the year. Is there a way to recoup those taxes? Is the some form Or something to indicate our loss

Unaware new husband owed back taxes

Last year I filed married jointly and when I got my tax return back over $1,500 was taken out because of 2011 back taxes. I had no idea that my husband owed back taxes he failed to tell me so allow me to file jointly with him and the money came out o... read more

US Foreign Income Exclusion

Hello,US citizen living in Canada with all foreign earned income and planning to use the FEIE for the first time. Question: if I have multiple sources of foreign earned income, can I report part of my income (from one employer) under the FEIE and ano... read more

I was labeled as a partner instead of a spouse on my wife’s work insurance

I got married in July and just found out this week that we were being charged double for insurance because I was labeled as a partner instead of a wife in her insurance. We were married on the 14th and as of the 17th we submitted the documents to sho... read more