Tax Credits and Tax Deductions | TurboTax® Support

Deductions & credits

Maximize Personal Tax Deductions: Itemized vs Standard

If you’re confused as to whether it’s better to take the Standard Deduction or Itemize Deductions on Schedule A, you’re not alone. Personal tax deductions include such things as charitable donations, mortgage interest, property taxes, state income ta... read more

Dependents: Children, Relatives & Others

If you want to get those juicy dependent tax credits and benefits, it’s important to get it right. Getting it wrong can create an IRS mess you don’t want to be a part of - trust me on this one! If the result isn’t in your favor, not only will you lik... read more

Charitable Donations: A Tax & Giving Win!

It’s always wonderful to donate to charitable causes. But did you know that the type of organization you donate to can actually make a difference on your taxes - and even whether or not you can actually deduct it? For example, donating cash through a... read more

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

Switching the Filling Status (form 1040) from MFJ to MFS whenever

Dear Team,I am married, live together with my husband until now, we have filled return 1040 with form MFJ for years ago.Can I switch the form MFJ to the MFS in filling return 1040 in year 2024; or whatever year later on (2025 or 2026...)?Are there an... read more

Non profit

My daughter runs a non profit in a portion of our home. The business has a mailing address, but no work is done there. It’s all done from an office in our home. Can i use this as a deduction/write off on my tax return since I am the homeowner?

Is this an expense I can report on my Michigan tax return - I currently own a mobile home. I pay property rent monthly to a corporation, in a mobile home community?

NOL Carryforward Deduction with Social Security Income

We had an NOL in 2023 with a carryforward that will likely take a couple of years to use up. I understand the carryforward deduction is limited to 80% of taxable income each year. We also have social security income and the taxable portion is differe... read more

K-1 (1041) Can I apply a 1099 capital gains loss to offset tax on K-1

I received a K-1 1041 from a trust which my wife was a part of an inheritance. It's showing the following: 2a - $1145 - $73,37814-E $73,49214-H -$73,378 We have a Capital Gains Loss (1099) from a previous year that exceeds this amount, however TurboT... read more

On the 1098-C I received there is no odometer milage, because the donation was a boat. Boats don't have odometer milage. TurboTax insist that I have to enter a value.

Is this a Software Bug? If not how do I complete it without entering a value?

Intuit Assist Does Not Post My Questions to the Turbotax Community

I had this same problem last year and it happened again twice today: Sign onto Turbotax. Click on Help. An Intuit Assist window opens to enter a question. If the results are not helpful you are given an option to Visit the Turbotax Community and it a... read more

Percentage depletion

Which states do not allow percentage depletion in excess of cost basis?

Dependent Care FDA - Carry Overt Funds

I can't figure out how to answer the following question: Enter the amount of any excess contribution that you carried over from 2023 that you used to pay qualified expenses during the grace period in 2024. Is this referring to funds that were reimbur... read more

Dependent

My son graduated from college in May of last year. I covered his health insurance (ACA) through July, when son moved out of state, where he now has a full-time job and health benefits. I claimed him as a dependent, but did not claim Head of Household... read more