Taxes
Need to learn about U.S. taxes? We’ve got everything you need – all in one location.
Latest Articles
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.
TurboTax 2022 Form 1040 – How to Record 401(k) Rollover to Traditional IRA
If a taxpayer decides to rollover their 401(k) plan to a Traditional IRA during the year, they will receive a Form 1099. The rollover should be recorded on the Form 1040 tax return.
TurboTax 2022 Form 1040 – Home Office Deduction Using Simplified Method
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 claim the deduction using the simplified method in TurboTax.
Child Tax Credit 2023 – What is the Additional Child Tax Credit (ACTC)
The ACTC is a component of the child tax credit (CTC). The ACTC refers to the refundable portion of the credit. This article and presentation covers the differences and similarities.
Child Tax Credit 2023 – Does My Child Need an SSN?
In order for a taxpayer to claim the child tax credit (CTC) for a qualifying child, the taxpayer and child must meet many requirements. One such requirement is the qualifying child must have an SSN.
Child Tax Credit 2023 – What is a Qualifying Child for the CTC?
In order for a taxpayer to claim the child tax credit (CTC) for a dependent, the dependent must meet the qualifying child test. This article discuss what's required to meet the standard.
TurboTax 2022 Form 1040 – Earned Income Tax Credit (EITC)
The earned income tax credit is a federal tax credit available to low income taxpayers that have earned income (i.e. wages). This article covers how an individual can claim the credit using TurboTax.
TurboTax 2022 Form 1040 – Child Tax Credit on IRS Form 8812
Individuals with qualifying children may be able to claim a child tax credit (CTC) on their Form 1040. This video walkthrough shows how to complete Form 8812 using TurboTax.
TurboTax 2022 Form 1040 – Credits for Retirement Savings Contributions on Form 8880
Certain taxpayers are eligible for a federal tax credit when they make contributions to a retirement account. This article discusses the Form 8880 and how to complete the form in TurboTax for 2022.
TurboTax 2022 Form 1040 – Traditional IRA Contributions
Contributions to a Traditional IRA are generally tax deductible for the taxpayer. This tutorial covers how to enter those contributions and deduct them using TurboTax for the 2022 tax year.
TurboTax 2022 Form 1040 – Enter Form 1099-DIV for Dividend Income
Dividend income is generally reported on a Form 1099-DIV. Taxpayers can use the information provided to complete Schedule B on Form 1040 of their income tax return.
TurboTax 2022 Form 1040 – Enter Stock Gains and Losses
Gains and losses from stock sales are reportable on Form 1040. Generally, these transactions are reported on Form 8949 and Schedule D.
TurboTax 2022 Form 1040 – Cryptocurrency Gains and Losses
When U.S taxpayers realize gains and losses on cryptocurrency transactions, those amounts are reportable on Form 1040. This walkthrough shows how to enter cryptocurrency transactions in TurboTax.
TurboTax 2022 Form 1040 – Enter Form 1099-K Losses on Sale of Personal Use Items
If a taxpayer receives a Form 1099-K for selling personal use items, those sales must generally be disclosed on Form 1040. This tutorial reviews a Form 1099-K scenario and how to enter information into TurboTax.
TurboTax 2022 Form 1040 – Enter Form 1099-K Gains on the Sale of Personal Use Items
If a taxpayer receives a Form 1099-K for selling personal use items, those sales must generally be disclosed on Form 1040. This tutorial reviews a Form 1099-K scenario and how to enter information into TurboTax.