This article is perfect for you if you’re filing taxes yourself on TurboTax, and you don’t have anyone to answer your questions. How to create a TurboTax account? It’s already 2022 and if you’re looking at 2022 filing for 2021 taxes. Read the full article and let me know if I miss anything.
- How to create a TurboTax account step by step.
- TurboTax Tax Tips 2022.
- Child tax credit payments 2022
- What is IRS letter 6475?
- Stocks and Crypto.
- Your Crypto Tax Guide – TurboTax Tax Tips.
How to create TurboTax Account
TurboTax is a software package for the preparation of American income tax produced by Intuit Corporation. TurboTax is a market leader competing with H&R Block, a test preparation company. It was developed in 1984, below I’ll guide you through the step and downloading the TurboTax app on your device and creating an account in it.
How to create a TurboTax account step by step
- In the app store, search for the TurboTax app and download the app.
- Click on the “I’m new here” option.
- After that, you’ll be asked “how did you do your taxes last year.”
- After that you’ll ask to scan your license, if you want to skip this step, you can do it as well.
- Then you’ll ask to tell me about your relationship status the previous year. If you are married click on that, then the app will ask for more information.
- I recommend you put the correct information here. After filling in all the details tap on “show my recommendation.”
- After that you’ll be recommended the best option of where you stand, here you can see all products. Tap on the option that says “start for free.”
- You can either create your account by entering the phone number or the other option is by using an email address or password.
- Use the email address, then user ID, create a secure password, and tap on “create an account.”
You can also use a touch ID to sign in quickly and securely.
TurboTax Tax Tips 2022
I’m a certified public accountant and I want to help you maximize your tax refunds for this upcoming tax season 2022. I’ll be covering a range of topics from child tax, stimulus checks, stocks and crypto, unemployment, and retirement plans. I’m just trying to help, if you think I miss something, let me know in the comment section.
Child tax credit payments 2022
According to a Washington report, the child text credit to low-income families will increase. The financial assistance program will rise after lawmakers allowed an expanded version to expire last year. So many Americans didn’t receive the full amount or they didn’t receive the payment at all.
What is IRS letter 6475?
So please make sure that you claim all the money that you deserve. In January 2022, you will receive an IRS letter 6475. This is a report to you that the total amount of child tax payment that you received in 2021. Keep this letter to yourself, you’re going to need this letter as a record of all the money that you suppose to get or didn’t get the previous year.
Sometimes the IRS gives you incorrect information if you think the payment detail on your IRS letter is not accurate. Match it with your bank record.
Stocks and Crypto
Your Crypto Tax Guide – TurboTax Tax Tips
If you are in the stock or cryptocurrency market you need to know 3 things.
- For stocks and crypto, you can do tax-loss harvesting.
- The “Wash Sale Rule” doesn’t apply to cryptocurrency but this may change this year 2022 or onward.
- If you are single and your taxable income is under $40,400 a year. If you are married and you combine taxable income is $80800 a year. There’s a zero percent long-term tax rate which means you pay zero federal income taxes.