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

Last year 2023 I was homeless residing in a homeless shelter, & facing hardships (Feb. 19th-Dec. 1st). Now have my home, still hardships. How to show this to file taxes?

Do I claim the EITC, or what is it called?My income tax info stated that I didn't reside at a main address in the U.S. ("less than 6 months"), yet I have. I was homeless for a while and had to use the shelter's address. Thus most of my funds that wer... read more

I made unnecessary state extension payments in 2023 for 2022, resulting in refunds. Shouldn't those refunds be netted against the extension payments?

I made extension payments in 2023 for 2022 state taxes. The payments ended up being unnecessary, resulting in refunds for which 1099Gs were issued. I have entered in the 1099G amounts, as well as the extension payment amounts. On the state and local ... read more

I thought I was going to claim Foreign Earned Income exclusion, but I changed my mind and now I can't remove Form 2555

How can I remove it?

Tax strategy for work vehicle.

I will be getting a vehicle allowance as a part of my job. The car allowance will be taxed as ordinary income to me. I travel to a different location for work and my company pays for the flight and the hotel stay at the job site. Now since they are p... read more

Oregon Itemized Deductions vs. Standard Deduction

Warning to anyone who intends to itemize deductions for Oregon for 2023. My Oregon return was only showing the standard deduction even though I entered all of the information for real property taxes, mortgage interest, and charitable contributions in... read more

I don’t know if the amounts that are on here are correct for my property tax information. Are those amounts generated automatically or would I have entered them myself?

My mortgage company switched and I have 2 on here with different amounts. How do I know that they are accurate. It looks like they overpaid.

If a US resident (not citizen) only works outside of the US (remotely), and resides in the US for the whole year, do they have to file taxes?

In April 2024, I was able to bring my dad to live in the US using the IR-5 visa. His job is outside of the US and he is still working there remotely. He's planning to continue working remotely until the end of the year. Assuming he doesn't get a job ... read more

Limit on mortgage interest deduction when shared between two individual tax returns

My wife and I purchased our primary home a few years ago, which has a current outstanding mortgage principal of about 1.4M. So far in our married joint tax filings we were limited to deduct mortgage interest paid on only up to 750K. We are going to g... read more

Why I don't see the "Tax Home" in my account?

Tax Home?

HSA Self Funding

I was laid off on April 2, 2024, and have been funding an HSA through payroll deduction. I'm 62 and have contributed $2500 for the year so far. We're on COBRA with an HDHP and expect to stay through the end of the year. My husband, I, and my 23 yo da... read more

Adoption Credit/Child Tax/Advanced Child Credit Applied Order

This is my first time having any issues with taxes. We adopted our daughter last year, so I did the adoption credit, but TurboTax showed my refund as $8725 and IRS adjusted to $3925. $4800 less, which appears to be the child tax credit for my 3 kids.... read more

Mortgage Interest Loan Maximum for Married Filing Separately

We're taking out a $400,000 mortgage loan this year, so I understand that we can deduct interest on up to $750,000 if filing jointly but only $375,000 if filing separately. But can we deduct interest up to $375,000 for each of us? For example, if fil... read more