The TurboTax Blog • Income and Investments

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

July 29, 2020 August 3, 2020 / 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...

Full Story

Income and Investments

How to Use Market Losses to Reduce Your Taxes

May 20, 2020 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...

Full Story

401K, IRA, Stocks

Can I Make Spousal IRA Contributions for Retirement?

March 11, 2020 March 24, 2020 / TurboTaxBlogTeam

You can contribute to an IRA if you earn income from a job or from running your own business, and under certain circumstances, you can even fund an IRA if you’re not working at all. Many couples agree that one...

Full Story

Income and Investments

Do Babysitters Have To Report Their Income on Taxes?

March 4, 2020 / Elle Martinez

Working from home has been a wonderful way to have more time with our daughters. The relative flexibility of my schedule allows me to earn money and avoid paying for child care. However, there are times when I do need...

Full Story

Income and Investments

Tax Tips for Gambling on College and Professional Sports

February 27, 2020 / Jim Wang

Every year, I join a fantasy football league with my friends and every year, I lose. So for me, unfortunately, my limited sports gambling has no impact on my taxes. But if you frequently place bets on sporting events, and...

Full Story

Income and Investments

8 Ways to Fund Your Retirement in 2020

February 14, 2020 March 24, 2020 / TurboTaxBlogTeam

Is this the year you’re going to make the most of your retirement savings? At T. Rowe Price, we recommend you try to save at least 15% of your income (including any 401(k) company match) each year for retirement. That’s...

Full Story

Income and Investments

Renting Out Your Home for the Super Bowl, Long Term or Short Term? Check Out These 7 Tax Tips

January 30, 2020 / Ginita Wall, CPA, CFP®

Do you have a spare room in your house that you’d like to rent out? Maybe you’re thinking of renting it out for the Super Bowl. Or maybe you are thinking about renting out your entire home and taking off...

Full Story

Income and Investments

4 Ways to Know If You’re an “Individual Investor”

January 16, 2020 February 14, 2020 / Jim Wang

Years ago, when I first started investing, I was worried about what it meant for my taxes. I just started a new job, set up my retirement plan, and my head was spinning from so many forms that I waited...

Full Story

401K, IRA, Stocks

Investing 101: How, Where, When, and Why to Begin

January 10, 2020 January 14, 2020 / Jim Wang

Are you searching for a way to build long-term wealth? Investing can help accomplish this goal. The best part is that you don’t need to be an investment banker or wealthy to start. If you still need to invest your...

Full Story

Income and Investments

Live Your Best Life With These 5 Financial New Year’s Resolutions

December 28, 2019 / Elle Martinez

Many people are making resolutions for what they want to accomplish for the upcoming year. Part of the resolution-making process involves the excitement of new beginnings and the desire to tackle some big dreams…but what about the other part? Some...

Full Story

The tax deadline was 7/15. If you haven’t filed yet, don’t worry we can help.

Search the Blog

Latest tax and finance news and tips

Search TurboTax Support

FAQ’s and community answers