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
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
Hi, I have over contributed to my HSA and I mark in the TurboTax that I
will withdraw them by the tax due date. However, I just realized that I
missed deadline. If I withdraw the amount right now, what is the penalty
I will get? Thanks
ritedenPosted 3 hours ago
| Latest post 3 hours ago by
Mike9241
As I have mentioned elsewhere in earlier threads that I have posted, I
have two small side businesses: dog-sitting/walking/house-sitting and
eBay sales (of items from our extended family). Last year these
collectively made about $500. I only use my c...read more
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
jason1578Posted January 30, 2023
| Latest post 6 hours ago by
PatriciaV
Hi , I am USA citizen residing in USA , I am going to sell my property
in foreign country and want to bring the money to USA , I would pay the
property gain tax in foreign country/government , so do I need to pay
tax in USA while bringing the tax to ...read more
MyKnewPosted yesterday
| Latest post yesterday by
Mike9241
Suppose I have a collection of rare baseball cards that I want to donate
to a qualified charity and claim a FMV of $12,000 on my return. My
understanding is that, because this exceeds $5000, I need a professional
appraisal. However, does that $5000 c...read more
DavesilbPosted yesterday
| Latest post yesterday by
Opus 17
Per IRS, "You can choose whether to take the amount of any qualified
foreign taxes paid or accrued during the year as a foreign tax credit or
as an itemized deduction. You can change your choice for each year's
taxes".I have $650 in foreign taxes pai...read more
JohnD425Posted March 23, 2023
| Latest post yesterday by
DMarkM1
I had already filed my taxes for this year when I was told don't forget
the credit! by a family member and was sent a form from PR. I inherited
part of my mother's home with some relatives that live in PR (I don't)
and then it was sold to a different...read more
Trouble with figuring out charible giving code? My church says there is
no such thing. They do have a tax I’d #. But I can’t finish my tax
return without it
My employer is taking 6.2% of social security wages in box 3 plus taking
another 6.2% in box 7 which is tips. I'm trying to convince her that
Social Security taxes withhold is only for box 3. It's showing I
overpaid way too much, but she's telling me...read more