The TurboTax Blog • Income and Investments

Recent Grad? Here’s Four Reasons to Start Saving Now Rather Than Later

June 16, 2021 / Jim Wang

Congratulations on your graduation! If you recently graduated, whether it’s from college or high school, there are some important decisions ahead of you. Many of these decisions don’t necessarily have right or wrong answers, so it’s OK if you’re not...

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401K, IRA, Stocks

Can I Make Spousal IRA Contributions for Retirement?

June 11, 2021 / TurboTaxKat

An IRA, or individual retirement account, is a way to build retirement savings if you don’t have a 401k plan offered through work, if you want to diversify your retirement savings with an additional account, or if you want an...

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Income and Investments

Gambling Winnings Tax (How Much You Will Pay For Winning?)

May 6, 2021 / Ginita Wall, CPA, CFP®

Most people don’t think about taxes on their way to the casino. But what might seem like nothing more than a fun night in Las Vegas actually carries significant tax consequences if you win. Failure to properly report your haul can result in serious penalties and headaches you just don’t want.

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401K, IRA, Stocks

I Started Investing This Year, What Do I Need to Know Come Tax Time?

March 2, 2021 (Last Modified: May 14, 2021) / Jim Wang

When I first started investing in the stock market, I wasn’t quite sure what I was doing. I wasn’t sure if my purchases would lose value the moment I bought them or if they would grow into exponential figures. I...

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Income and Investments

Capital Gains Tax Calculator

December 24, 2020 (Last Modified: May 21, 2021) / TurboTaxLisa

When stock market prices took a dive at the beginning of COVID-19 millions of people jumped into the stock market to take advantage of the low prices and millions also sold stock this year for the first time. Many of...

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Income and Investments

First Time Investors, Here’s What You Need To Know About Taxes

December 10, 2020 (Last Modified: February 4, 2021) / Jim Wang

There continues to be an increase in the number of people investing in stocks, especially when it comes to Millennials and Gen Z. The ability to easily trade and invest with a rise of investment apps like RobinHood, Stash, Acorns,...

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Income and Investments

How to Evolve Your Financial Goals When Your Income has Changed

November 18, 2020 (Last Modified: January 13, 2021) / TurboTaxBlogTeam

When you have small changes in income, such as a reduction in hours or a raise, it’s not hard to adjust your financial goals. Small incremental changes are easy to handle. But what if you have a big change? What...

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Income and Investments

Tax Implications of Buying and Selling Stocks During the Market Downturn

August 25, 2020 (Last Modified: August 27, 2020) / Jim Wang

When the market took a nosedive at the start of the coronavirus pandemic, did you dive into the stock market for the first time? Did you sell some of your holdings? Or did you start buying more? Or did you...

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Income and Investments

What Is My Adjusted Gross Income (AGI) and How Do I Calculate It?

July 29, 2020 (Last Modified: June 9, 2021) / Ginita Wall, CPA, CFP®

Many benefits are limited to those people whose income is below a certain level. Certain tax deductions and credits such as the Child Tax Credit and the Earned Income Tax Credit are not solely based on your income but your...

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Income and Investments

How to Use Market Losses to Reduce Your Taxes

May 20, 2020 (Last Modified: June 4, 2020) / Jim Wang

Every so often, the stock market goes through periods of volatility. When Coronavirus first appeared, it hit the market very hard. Within days, the market had entered into a correction and then into a bear market. But almost just as...

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Income and Investments

Recent Grad? Here’s Four Reasons to Start Saving Now Rather Than Later

Can I Make Spousal IRA Contributions for Retirement?

Gambling Winnings Tax (How Much You Will Pay For Winning?)

I Started Investing This Year, What Do I Need to Know Come Tax Time?

Capital Gains Tax Calculator

First Time Investors, Here’s What You Need To Know About Taxes

How to Evolve Your Financial Goals When Your Income has Changed

Tax Implications of Buying and Selling Stocks During the Market Downturn

What Is My Adjusted Gross Income (AGI) and How Do I Calculate It?

How to Use Market Losses to Reduce Your Taxes

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