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

Used and New EV Tax Credit Same Year

If I were to purchase a used EV and utilize the $4000 credit upfront on the purchase (assuming all qualifications are met) and then trade that in for a new EV later in the same year, can I then also claim the $7500 credit upfront (assuming all qualif... read more

Tax deduction Question

Question - My wife and I are both self employed for different buisnesses. Married filling joint. We both have seperate work events in the same city that are on the same day. If we both travel by car together, can we both individually write off the mi... 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.

Selling foreign property and taxes in USA - Tax %

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 ,Couple of Questions:1) so do I need to pay tax in USA while... read more

Does taking online surveys count as earned income?

I receive SSI benefits and do not work, therefore do not pay taxes. I take surveys online and receive rewards in Amazon gift cards. The rewards are inconsistent and vary month to month. I am wondering if without ever working and never paying taxes do... read more

How do I get Per Diem credit as a truck driver

I am tying to see where I add Per Diem on Turbo tax for being as truck driver. Indiana gives us $63/day credit

Can new roof be added to the cost basis of a property sale?

According to IRS Publication 523 page 9, new roof is included in the Examples of Improvements That Increase Basis. But when googling there are many experts who answered "No". Why is it different, and does it have anything to do with whether it is a r... read more

My wife will start Medicare Part A effective Oct 23. We contributed to our HSA during Oct-Dec 2023, but shouldn't have. 2023 tax return already filed. How to remedy?

Do I ask for a refund of the excess HSA contribution (and interest) and file an amended return for 2023? Or, do I take some kind of distribution in 2024 and correct this on my 2024 return? Thanks for any help!

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

K1 income not flowing through to schedule SE or section D2

K1 income is correctly accounted for in calculating income taxes and SS taxes BUT not flowing through into self-employed income for social security admin calculations? This is a 2022 return problem. 2000 through 2021 are correct -- i must have ticked... read more

Canadian RRSP reporting on Schedule B of 1040

Hi,Do owners of Canadian RRSP accounts have to report them on Schedule B, even when the interest of the RRSP is stated as 0? I know I have to report the RRSP when filing FBAR and 8938 (if necessary). In fact, in the case of RRSP reported on 8938, tha... read more

FOREIGN ACCOUNTS QUESTION ON FEDERAL TAX RETURN

Hi, I don't know if there is a glitch in the system or what but my foreign accounts question has a check mark in the yes block, however I don't have any foreign accounts and I don't recall checking the yes block. Will this delay my refund? Do I need ... read more