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

Clarification on commute mileage for work and between work sites

I am a home infusion/hospice nurse that works for a major hospital chain. I commute directly from my home to a patient's home, work with them, and then commute to another patient's home, etc. My work schedule is set so that I see the same patients on... read more

Eic and investment income

If I have a negative amount from rental income in a schedule E and capital gains and dividends also would the rental income which is negative offset the gains and dividends so I would qualify for the eic

2023 Energy Tax Credit partial business use of home

I use my primary home for business (30% use). I'm using TurboTax for Home and Business. I had thought that the energy tax credit would be calculated as Total cost $6000 of biomass stove by 70% residential portion of home, multiplied by 30% of the cos... read more

I am self-employed and have an HRA as a retiree benefit from my former employer. Can I deduct premiums for LTC, dental, and the non-reimbursed portion of healthcare?

Why does TT want keychain control? Should I return it?

Why would a consumer product start out by asking for control of my keychain to install (before even getting the product key for activation)? tmx-bpl_uuid_service being asked for with no explanation. Awful UI or trojan exploit? Best I can tell, maybe ... read more

TurboTax is not deducting my mortgage points

Even though the purchase is for a primary home and meets all the requirements

Mortgage interest deduction

I am considering doing a cash back refinance of my current home and using the money to purchase a rental property. In this case, is the interest on the loan deductible? It seems like it should be but I can't find anything conclusive in IRS documents.

Is this return impacted by inaccurate TY21-->TY22 conversion? Checked yes

First off, way is this checked yes? After spending hours reading forums and various other posts, there was a bug in TT on a past return that is causing this and requiring this? If so, why isn't there a fix or a step by step solution guide? Isn't the ... read more

Where do you input advisor fees?

Another 936 question

Purchased home 05/2016, mortgage of 585,000.Did cash-out refi in 11/2021 for 822,375.All cash proceeds of 222,768 were used to improve property (pool, basement remodel, new screen porch, etc.).Would I be able to use 1M cap, rather than 750K cap, and ... read more

TT is calculating my Foreign Tax Credit to be $0

Hi,This is for Tax Year 2023 using TurboTax Home & Business Desktop (Mac).Problem: TurboTax calculates by Foreign Tax Credit to be $0. Here's my situation:I received bank interest from some foreign banks. I paid foreign income tax on the bank interes... read more

carryovers for donations

Can I skip this for now? it will take a lot of research to find these figures and I'd like to finish for now and enter next year instead. Can I just delete the amount that TT entered and go on? Thanks.