Embedded Files
Turn charitable donations into big tax deductions with ItsDeductible
Track your donations year-round and import them into TurboTax at tax time to get every dollar you deserve.
The TurboTax Tax Deduction Finder is an invaluable tool for anyone looking to maximize their tax refund. With its comprehensive search, personalized recommendations, and user-friendly interface, it makes the process of finding and claiming deductions simple and efficient. Whether you’re filing a simple return or have a more complex financial situation, TurboTax Deduction Finder helps ensure you get every tax break you deserve.
How to use ItsDeductible?
How to use ItsDeductible?
Track your donations year-round and watch your estimated tax savings add up.
We’ll provide the fair market value for over +1700 items.
Easily import your donations into TurboTax at tax time.
How does TurboTax’s Tax Deduction Finder Work?
How does TurboTax’s Tax Deduction Finder Work?
TurboTax starts by asking questions about your life and financial situation, such as your employment, family status, and major expenses.
As you enter information, TurboTax automatically searches over 350 deductions and credits to find those relevant to you.
You can import W-2s, 1099s, and other tax documents directly into TurboTax, ensuring accurate data entry and further refining the deductions TurboTax identifies.
TurboTax updates in real-time, recalculating your tax return as you enter more information and providing instant feedback on potential deductions.
The tool reviews the identified deductions, ensuring they are accurate and applicable to your tax return. It checks for common errors and missed opportunities.
By identifying all eligible deductions and credits, TurboTax helps you maximize your tax refund.
Get more with ItsDeductible
Get more with ItsDeductible
Tax Deductions 2024: What’s New or Changed
Tax Deductions 2024: What’s New or Changed
Standard Deduction Increase: The standard deduction for salaried employees and pensioners has been increased from ₹50,000 to ₹75,000. For family pensioners, it has been raised from ₹15,000 to ₹25,000.
Income Tax Slabs Adjusted: The 5% tax rate now applies to incomes up to ₹7 lakh.
TDS Rate Reductions: Several sections under Tax Deducted at Source (TDS) have seen rate reductions, such as insurance commission payments under Section 194D, which have been reduced from 5% to 2%.
Removal of TDS on Mutual Fund Repurchase: Section 194F, covering TDS on the repurchase of mutual fund units, has been removed.
Enhanced Deductions for Investments: New provisions and enhancements for deductions related to investments in specified financial instruments.
Page updated
Report abuse