Tax Deductions & Credits | TurboTax® Support

Tax credits and deductions

Can I deduct property (real estate) taxes?

Real estate taxes (also called property taxes) for your main home, vacation home, or land are an allowable deduction if they're based on the assessed value of the property and the property is for your own personal use. However, you won't be able to d... read more

Can I deduct health insurance premiums taken from my paycheck?

In most cases, you can't deduct your share of health coverage costs for a group plan offered through your employer. The reason? Most premiums are paid with pre-tax dollars, which means they are deducted from your wages before taxes are applied. Deduc... read more

What are the qualifications for the Earned Income Credit (EIC or EITC)?

To qualify for and claim the Earned Income Credit you must: Have earned income; and Have been a U.S. citizen or resident alien for the entire tax year; and Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly... read more

Where do I enter job-related employee expenses? (Form 2106)

Note: These instructions mainly (but not exclusively) apply to 2017 or earlier tax year returns. Under the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, the unreimbursed employee expenses deduction has been suspende... read more

Where do I enter my real estate (property) taxes in TurboTax Online?

If these are taxes for rental property you own, enter your property taxes in the same place you enter your other rental expenses. If you're a homeowner, your property taxes are entered in the Deductions & Credits section: Sign in and open your return... read more

Where do I enter the home office deduction for my business?

To enter your home office expense along with other common business expenses: Open or continue your return. Search for Schedule C and select the Jump to link in the search results. Answer any questions about your business until you get to the Your sel... read more

Can I deduct contributions to a 529 plan?

No, not on your federal taxes. However, some states let you deduct all or part of your 529 plan contributions. If your state is one of those states, we'll prompt you to enter your 529 contributions when you get to the credits and deductions portion o... read more

What kinds of rental property expenses can I deduct?

The IRS lets you deduct ordinary and necessary expenses required to manage, conserve, or maintain property that you rent to others. You're allowed to deduct these expenses if your property is vacant, as long as you're trying to rent it. Expenses must... read more

What's my standard deduction for 2021?

The standard deduction is a fixed dollar amount that reduces the amount of income you get taxed on. Think of it as tax-free income that you get to keep before taxes are applied to the rest. The Tax Cuts and Jobs Act that was signed into law in late 2... read more

Do I get a deduction for my 401(k) or Thrift Saving Plan contribution?

If your contribution appears in box 12 of your W-2 with a code D, you got the deduction. Usually contributions to employer-sponsored 401(k) and TSPs are "pre-tax," which means the contributions are deducted from your earnings before tax is applied. R... read more