TurboTax Form 1040 Tutorial for 2023 – Step-by-Step Guide
This video tutorial covers a sample Form 1040 (US Individual Income Tax Return) prepared using TurboTax software.
Child Tax Credit 2023 – Can You Claim CTC With No Income?
Taxpayers with qualifying children can generally claim a child tax credit (CTC) when they file their annual tax return. One of the most common questions each year is "Do I Need Income to Claim the CTC?"
TurboTax 2022 Form 1040 – Capital Loss Carryovers on Schedule D
This article discusses how and individual can enter their capital loss carryovers into TurboTax. It's important individuals track these carryovers to be able to use them against future capital gains.
TurboTax 2022 Form 1040 – Schedule E Royalty Income
Passive royalty income is generally treated as portfolio income and reported on Schedule E of an individual's Form 1040 tax return. This article reviews the steps to enter royalty income into TurboTax.
TurboTax 2022 Form 1040 – Publicly Traded Partnerships (PTP) Schedule K-1
If an individual invests in a publicly traded partnership (PTP) which reports their allocable share of the income. The individual uses this information to complete their own Form 1040 tax return.
TurboTax 2022 Form 1040 – How to Record Tax Extension Payments
Did you file a Form 4868 extension request for your Form 1040? If you made a tax payment with your extension, you need to account for that payment. This video walkthrough shows how to record an extension payment in TurboTax.
TurboTax 2022 Form 1040 – How to Record HSA Contributions on Form 8889
If an individual makes a contribution to their health savings account (HSA) during the tax year, they are generally allowed a tax deduction for the contribution. This article demonstrates how to record those amounts in TurboTax.
TurboTax 2022 Form 1040 – How to Apply Tax Refund to Next Years’ Taxes
When an individual is due a tax refund from the IRS or state, they generally have the option to either receive the cash or apply the refund to next year's taxes. This walkthrough shows how to apply a tax refund in TurboTax.
TurboTax 2022 Form 1040 – Home Office Deduction for a Homeowner
Business owners and self-employed taxpayers may be entitled to a home office tax deduction when they work from their home. This tutorial demonstrates how to enter those numbers into TurboTax.
TurboTax 2022 Form 1040 – Home Office Deduction Using Actual Expenses
Business owners and self-employed taxpayers may be entitled to a home office tax deduction when they work from their home. This tutorial demonstrates how to enter those numbers into TurboTax when you claim actual expenses.