Tax Credits and Tax Deductions | TurboTax® Support

Deductions & credits

Top 6 Tax Changes: One Big Beautiful Bill Act (Video Series)

Your refund might be bigger this year due to The One Big Beautiful Bill Act (aka Working Families Tax Cut). Learn about: increase to the Child Tax Credit increased SALT deduction (State & Local Tax) new car loan interest deduction “no tax on tips” “n... read more

Your W-2: Box 14 codes for No Tax On Tips & Overtime

For 2025, the IRS has kept the W-2 form the same as prior years. This means that many employers are utilizing Box 14 to reflect changes in the tax laws such as “No Tax On Tips” and “No Tax on Overtime”. Box 14 is typically a space for employers to in... read more

Earned Income Tax Credit: This is the Big One!

Have you heard about the Earned Income Tax Credit (EITC or EIC)? It’s the largest refundable tax credit available to taxpayers with low to moderate income. The fact that it’s "refundable" is what makes it so desirable and helpful for many taxpayers. ... read more

How Taxpayers Can Claim the Expiring 2025 Home Energy Tax Credits: Video Guide

Tax Year 2025 represents a strict deadline for homeowners seeking federal tax credits for home energy-efficient improvements. The passage of the One Big Beautiful Bill Act (OBBBA) accelerated the expiration of most residential energy tax benefits. Ho... read more

Federal Clean Vehicle Tax Credit Ends: 2025 Video Tutorial

Attention taxpayers, if you purchased an electric vehicle (EV) before the September 30, 2025, deadline, you may be eligible to claim the Federal Clean Vehicle Tax Credit. This credit offers a dollar-for-dollar reduction of the taxes you owe. However,... read more

New Tax Deductions & Changes - One Big Beautiful Bill Act (OBBBA)

Be prepared and plan ahead for differences in your tax refund or balance due - hopefully in a good “more money in your pocket” kind of way! Let’s clear up the confusion about major changes in tax deductions such as no tax on tips, Social Security, an... read more

Maximize Personal Tax Deductions: Itemized vs Standard

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

Dependents: Children, Relatives & Others

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

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

Depreciation and Amortization for Rental properties

Hi, I still cannot open the Depreciation/Amortization form despite several tax experts saying it's already available to use on all Turbotax formats. I am using a Mac. Please Help!

I borrowed 8000 in 2008 when I bought my home. I still own 250. How do I enter that on the Turbo Tax Deluxe Do it yourself?

How to get amortized points paid in 2024 for a mortgage refinanced in 2025 to show up on Schedule A Line 8c? Currently, they are not showing up there.

I purchased my primary home using a mortgage in December 2024 and paid points that I amortized. I refinanced this mortgage in 2025. TurboTax is showing these points in the "Deductions and Credits" section but it is not showing on Schedule A Line 8c.

Handling of 1095-A form and Individual Coverage HRA

I received a 1095-A form from Marketplace for my 2022 health insurance. I also received from my employer (I am a retiree) a HRA during the 2022 calendar year as reimbursements for my premiums. Based on the fact that I had an HRA for 2022 and informat... read more

Minimum Value Healthcare Coverage Refused In Favor Of ACA Plan

I started out the year with an ACA plan and a subsidy based on not having an estimated income for the year. In March, I subsequently found a job that offered a minimum value healthcare plan starting in May. However, because this plan was worthless (n... read more