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

Is anyone aware of any fix for Turbo Tax 2024 Deluxe mortgage interest deductions not calculating on Schedule A?

Expected TT to update software online assist.

Can i change to standard deduction

can i correct to standard deduction

Can I claim the EV credit for my LLC using Turbo Tax Home & Business?

I'm filing my taxes using Turbo Tax Home and Business. I'm filing jointly and my AGI is higher than the IRS limit for the EV credit. However I purchased this vehicle for my LLC and I'd like to claim this credit for my business. I can't seem to find a... read more

Schedule K-1 - allocation percentage - Sales, Tips

Hello, so far I have not seen a way to subcategorize income for allocation purposes for an LLC partnership on Schedule K-1 The partnership agreement simply states that all profits are split in half (two-member LLC). But I know each of the partners ag... read more

It's Deductible Mobile App & Stock Donations

My iOS It's Deductible mobile app doesn't show stock donations although they are showing up in the online version of It's Deductible. Is this a known issue, or just a limitation of the mobile app?

about primary residence for Publication 523

Hi IRS primary residence definition is vague. I am finding hard time find out my the last date of primary residence for Publication 523 tax exclusion. I purchased my pervious place in 2018 and current place in 2021. I changed my USPS address on May/2... read more

Sold my house on a contract

I sold my home on a contract I lived in for 9yrs it had no mortgage on it . Now it's paid in full by the buyers and I'm told I have to fill out a w-9 for IRS by attorney that's drawing up new deed for buyer ? it was only 50.000 over 9 yrs of monthly ... read more

Do I have to pay taxes on the gain from the sale of land if I put the gain towards the cost of building a second home if the second home is not finished within a year?

Need amendment option to update carryover information from 2021 to 2022

Why isn’t there an update option on the “What do you need to change on your return?” screen to amend carry over information from 2021 to 2022 Windows Desktop Premier version? The update will not only appropriately handle losses etc. but should also p... read more

How can I pay if I live overseas? I've tried paying with my federal return but it was rejected because I have a foreign address and my foreign credit card isn't accepted.

changing personal/business cars mid year

I was using a vehicle that I was still paying on for the majority of 2023 for personal and business use. In October I traded that in and got a different vehicle which was being used for personal and business usage. I am not sure how to file taxes and... read more

This answer has been verified for accuracy by an Intuit expert employee Excess Contribution to both 401K and 401Roth

Here is my problem. My wife had two different employers in 2023. Both contributed $22,500 to a combination of traditional 401K and Roth 401K. We confirmed this only after we filed our taxes (turbotax did give the notice) and after April 15th, 2024. W... read more

Remote worker for MA company, full time resident of NC

I work remotely for a health information vendor company based out of MA. I live full time in NC, and all work in performed in NC, however MA state taxes are taken from my check. How does this work come time to file my taxes? I am a W2 employee.