If you’re confused as to whether it’s better to take the Standard
Deduction or Itemize Deductions on Schedule A, you’re not alone.
Personal tax deductions include such things as charitable donations,
mortgage interest, property taxes, state income ta...read more
If you want to get those juicy dependent tax credits and benefits, it’s
important to get it right. Getting it wrong can create an IRS mess you
don’t want to be a part of - trust me on this one! If the result isn’t
in your favor, not only will you lik...read more
It’s always wonderful to donate to charitable causes. But did you know
that the type of organization you donate to can actually make a
difference on your taxes - and even whether or not you can actually
deduct it? For example, donating cash through a...read more
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
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
I bought a house to renovate and sell in 2024. I had to send 1099s to a
couple workers (landscaper, drywaller, etc) who were not incorporated.
If we issued a 1099 in 2024 but haven't sold the house yet, do we list
the amount the 1099 was issued for a...read more
gungleyPosted yesterday
| Latest post 12 seconds ago by
DaveF1006
I have received a $2,000 employer contribution to my HSA every year for
the last 5 years and I have contributed nothing every year as well.
Nothing has changed in 5 years filing through turbo tax including my
benefits or coverage, but now TurboTax is...read more
I own several U.S. government backed federal agency bonds that are state
tax-exempt (Federal Home Loan Bank, Fed. Farm Credit Bank). Interest
from these is included in my brokerage 1099-INT (Box 1). I cannot find a
way in TT to designate that this in...read more
I am the executrix of my father's estate. Do I need to report a
forfeited real estate deposit the estate received for my father's
personal residence? If so, which tax year do I report it on? The deposit
was received in December 2023 but the house was...read more
After successfully entering my Oklahoma Return TurboTax using
"Step-by-Step" it makes a last check but finds a "problem" and displays
form 561 for "Capital Gain Deduction For Residents Filing form 511". The
display error is to the effect about having...read more
I have educator expenses, and I have reported them as $250, but I get
this message when I do. How do I get TurboTax to accept my report of
$250 in expenses?
S Corp greater than 2% shareholder with shareholder health paid by the
company - correctly reported on W-2 as wages and in Box 14. How do I
enter the insurance piece in TT in order to get my deduction?
Hi. I have rental properties that have losses. Turbo tax is doing
everything correctly. On my form 8582 Part II it shows that I can take
about $20k of losses from this year's income. This is correct. HOWEVER,
I don't want to take the losses against i...read more
SRob888Posted 10 hours ago
| Latest post 39m ago by
SRob888