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

What can I deduct if can't agree with my wife

Me and my ex were married on the last day of 2023, and divorced on Jan 2024.for 2023 tax, If we file separately, how can we determine who get to deudct what? 1. We have two dependent children, our divorce agreement says each of us can claim one child... read more

Form CCC-1099-G

Hello! I received a USDA payment on form CCC-1099-G for transportation costs that I paid out of pocket, leaving me a net balance of -0- (I got reimbursed). According to TurboTax, I had to input this information in TWO places - my personal income and ... read more

If my aunt sells me a property for $60,000 under appraisal value will she have to pay gift tax

Input sheet says that tax due will be paid according to banking info on due date, but it didn't do it, need to speak to TT representative on correcting this error

Mortgage Interest Deduction for Multiple Mortgages during the year

Hi, I've seen several posts on how Turbo-Tax computes mortgage interest deduction, but I don't see a good conclusion. Here's my situation with two mortgage balances over the year (I've simplified the numbers for make the calculations easier): MonthMo... read more

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

My ex-wife was in the military for 3 years, & we were married. In 2008, we moved back & bought a house, which I still own. Am I exempt from Repayment of the 5405?

She divorced me, and left me the house, which I still own. Line 2 in Part 1 of Form 5405, states as a condition as 'I (or my spouse if married) am, or was, a member of the uniformed services.... This condition was met in the past, when we were marrie... read more

State Rental Expenses Exceeds income amount

Lived in Florida home as primary residence Jan - Sep 2023. Moved to Wisconsin Oct 2023. Rented Florida home Oct 2023. I received rental income from the tenants prior to becoming a Wisconsin resident (Sept 2023). With expenses and assets deducted I ha... read more

Reporting a loss on sale of primary residence but capital loss shows zero

Hello, Last year I sold a house that I owned since 2013 and used as a primary residence for 5 years. While waiting for real estate market to recover in this area house was either empty or partially rented out. Unfortunately, after several years there... read more

I was told PA residents can deduct for moving expenses. Ho do I amend my state tax return to add this?

I had a house fire in 2022 - are my non reimbursed expenses tax deductible?

we had a house fire and the insurance company only covered part of my expenses. can the non reimbursed costs be tax deductible?

home office deduction exceeds business income

TT shows that my home office deduction (~$200) exceeds my business income (~$100). Is this possible? I thought that allowable home office deduction for the current year is always adjusted to be less that business income for the current year. Am I doi... read more

Personal & Co-Op Mortgage Interest

HiI'm confused about where to enter my Co-Op mortgage interest share. Do I add the amount paid to my Co-Op mortgage to the amount of amount of interest paid to my personal mortgage? I did not receive a 1098 from Co-Op but have letter with amounts pai... read more

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Featured Topics

Favorite Tax Deductions & Credits for Families!

Tax Deductions Worth Looking Into!

What can I deduct if can't agree with my wife

Form CCC-1099-G

If my aunt sells me a property for $60,000 under appraisal value will she have to pay gift tax

Input sheet says that tax due will be paid according to banking info on due date, but it didn't do it, need to speak to TT representative on correcting this error

Mortgage Interest Deduction for Multiple Mortgages during the year

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

My ex-wife was in the military for 3 years, & we were married. In 2008, we moved back & bought a house, which I still own. Am I exempt from Repayment of the 5405?

State Rental Expenses Exceeds income amount

Reporting a loss on sale of primary residence but capital loss shows zero

I was told PA residents can deduct for moving expenses. Ho do I amend my state tax return to add this?

I had a house fire in 2022 - are my non reimbursed expenses tax deductible?

home office deduction exceeds business income

Personal & Co-Op Mortgage Interest

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