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

Problem with entering State Tax withheld from 1042-S as a Resident Alien

Hello, I am an international student, and I got into the USA in Dec 2020, and I haven't left since then. In the past, I filed my taxes with Sprintax as a nonresident alien, but this year I qualify to file as a resident alien. However, my school issue... read more

Residential Clean Energy Credit carryforward and form 5695 for 2024 and 2025.

I submitted form 5695 via TurboTax in March 2024. I just discovered (in Feb 2025) that boxes 17a thru 17c were checked incorrectly, saying that the property was not in the USA, which it is. Today, Feb 17, 2025 I have completed my tax return. I have a... read more

Can I remove a provider from the Wisconsin and Dependent Care Credit screen?

It is listing my employer who contributed to the child care fund, but did not supply any child care....if left in, it asks me to provide EIN and address, but it shouldn't be listed to begin with.

Form 4684 for theft not working

I'm unable to complete my taxes for 2025 in Turbo Tax because form 4684 is incomplete. I'm asked to fill out page 3, but there is no page 3 in the form. Please advise when Turbotax will update the software to complete the full form.

Form 1116-Foreign Tax Credit error “Adjusted Basis of Total investment assets” and the “Adjusted Basis of investment assets generating foreign income". Don't have.

My 1099 doesn't provide the requested basis amounts. Do I really need to get the total basis for each fund with foreign assets, and then multiply the percent of foreign assets in that fund, and then total all those to get this number? If this is a re... read more