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From the community
Where do I enter taxes paid on my car?
From the answer: If you are itemizing, and want to deduct your car's sales tax, you can enter it into TurboTax here: Federal Taxes (Personal if using TurboTax Self Employed or Home and Business) Deductions & Credits You may need to click on Skip to see all tax breaks
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From the community
Hello! I need to know if I can count LASIK/PRK eye surgery for medical fees. It was elective/cosmetic, and I payed out of pocket. I also purchased eye drops.
From the answer: Although expenses for "cosmetic" treatments are usually not deductible for tax purposes, vision correction surgery is allowed.
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From the community
In It's Deductable, how do you enter items purchased brand new for charity?
From the answer: I enter these as cash donations for the amount spent.
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From the community
I bought a house & flipped it 2 months later. This was a one time deal. I' m not in the flipping business. What SELLING expenses can I write off & where to I enter them?
From the answer: You don't "expense" anything ... you sold a capital asset.... So you will add together all of the costs and enter it as the total basis in the program.
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From the community
1099q recipient is not dependent and filing seperately
From the answer: The recipient listed on Form 1099-Q should report the distribution on his or her tax return.... If the listed recipient is another member of your family, the distribution must be reported on that person's tax return rather than on your return.
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From the community
Bought a new car last year
From the answer: You can choose to deduct sales tax if you purchased a vehicle in 2016.... Yes, you can still claim the deduction, even if you are still financing your vehicle.
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From the community
Are there forms that are not ready for doing taxes? IRS has not printed them yet or what?
From the answer: You may be aware that in late December Congress passed a major tax reform bill.... That has the IRS scrambling to get tax return forms ready for this tax filing season.
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From the community
When filing married/jointly, how do I add a 1099-G for both my spouse and I from the same state? Am I supposed to total the amounts under one entry?
From the answer: Make one entry by adding the amounts together.
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From the community
Does the amount on a 1099c count in the calculation for my ACA Premium Tax Credit MAGI for the year that the write-off occurred?
From the answer: Yes , it does.... If it's taxable (scroll down on this link for Exclusions from Gross Income ), then it's included in your MAGI calculation.
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From the community
My only income was alimony, and I am paying income taxes on the alimony (my ex husband is not). Is this considered income, so that I can contribute to my traditional IRA?
From the answer: Yes, it does.... Please see this IRS reference: Topic No. 451 Individual Retirement Arrangements (IRAs) | Internal ... .
