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TurboTax / Tax Calculators & Tips / Tax Tips Guides & Videos / Tax Deductions and Credits / Tax Deductions 2023: What’s New or Changed

Tax Deductions 2023: What’s New or Changed

Written by Rocky Mengle, J.D. (Tax Attorney) • Reviewed by a TurboTax CPAUpdated for Tax Year 2023 • May 9, 2024 2:40 PM
OVERVIEW

Many of the 2023 tax deductions are larger or more accessible than they were for the 2022 tax year. See how this can save you more money on the income tax return you file in 2024.

 

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Key Takeaways

  • Tax deductions reduce the amount of income that's subject to tax, which ultimately reduces your tax bill.
  • The standard deduction amounts for 2023 were increased approximately 7% from 2022.
  • The maximum deduction for 2023 tax year contributions to a traditional IRA is $6,500 for most people, but it’s $7,500 for people who are at least 50 years old.
  • The 2023 student loan interest deduction is gradually reduced if your modified adjusted gross income exceeds $75,000 ($155,000 for joint filers).

Changes to the law and adjustments for inflation can affect the tax deductions you can claim from one year to the next.

In many cases, that’s good news. For example, a tax deduction might be larger after an inflation adjustment. You might also be able to claim a deduction you didn’t qualify for on a previous tax return. 

That’s why it’s important to understand what’s new and changed for the 2023 tax deductions that might be available to you.

What are tax deductions and how do they work?

Tax deductions cut your tax bill by reducing the amount of income that’s subject to tax.

After adding up your total income on your tax return (with certain exceptions for tax-exempt income), you subtract any deductions from that amount to calculate your taxable income. For most people, the tax owed on your taxable income is then determined by using either the tax tables or tax rate schedules (you can subtract tax credits and tax payments already made from your tax liability later).

So, the more deductions you can claim, the lower your taxable income will be. And by lowering your taxable income, you’ll end up with a smaller tax payment or a larger tax refund.

What kind of tax deductions are available

There are different types of tax deductions. For instance, there’s the standard deduction, which is a single deduction based on your filing status. There are also several itemized deductions, including write-offs for:

Unfortunately, you have to pick between the standard deduction and itemized deductions – you can’t claim both. But you can pick whichever one is higher and saves you the most money.

There are also “above-the-line” deductions, which you can claim regardless of whether you take the standard deduction or itemize. They get their name because you report them on your tax return right above the line showing your adjusted gross income (AGI).

Above-the-line deductions also have the added benefit of reducing your AGI. Since the eligibility for or amount of several other tax breaks are based on your AGI, above-the-line deductions can have a ripple effect and trigger more tax savings elsewhere on your tax return.

Some of the more popular above-the-line deductions are for:

Finally, sole proprietors can claim the qualified business income deduction and other business deductions on Schedule C. While this article is focused on non-business deductions, it’s important to point out that sole proprietors can claim business deductions on their individual income tax return.

Tax deductions vs. tax credits

Both tax deductions and tax credits help lower your income tax bill, but they do so in different ways. And while tax deductions are nice, tax credits are generally better.

As explained above, tax deductions lower your taxable income, which ultimately reduces the tax you owe for the year. But, at best, your actual savings are only a fraction of the deduction amount and depend on your tax bracket. For instance, if you’re in the 22% tax bracket and claim a $1,000 IRA deduction, your tax liability is only reduced by $220 ($1,000 x .22 = $220). 

On the other hand, you can subtract income tax credits from the tax you owe on a dollar-for-dollar basis after applying the marginal tax rates to your taxable income. So, if you have a $1,000 tax credit, you can reduce your tax bill by up to $1,000.

There are also two general types of credits: refundable and nonrefundable tax credits. If the credit is “refundable,” you will get a tax refund if the credit amount is greater than the tax you owe before applying the credit. For example, if your pre-credit tax liability is $2,000 and you qualify for a $2,500 refundable tax credit, you’ll get a $500 refund.

If the credit is “nonrefundable,” the credit will only reduce the tax you owe to $0. For instance, if your pre-credit tax liability is $2,000 and you qualify for a $2,500 nonrefundable tax credit, you won’t owe any tax but you won’t get a refund, either ($500 of the credit is essentially lost).

Tax deductions vs. exclusions

An exclusion is like a tax deduction, since they both reduce the amount of income that’s taxed. But while you subtract a tax deduction from income that’s reported on your tax return, you don’t even need to report income that’s granted an exclusion.

Since income that’s excluded generally isn’t reported on your return, it reduces both your AGI and taxable income.

Are there any new tax deductions for 2023?

No. There are no new tax deductions for the 2023 tax year. But no deductions were repealed for 2023, either. As a result, the list of available tax deductions for 2023 is the same as it was for 2022.

Which 2023 tax deductions changed?

While there are no new tax deductions for 2023, there’s still a handful of changes to 2023 tax deductions stemming from the IRS’s annual adjustments to account for inflation. These adjustments are good for taxpayers, because they increase the value of several tax breaks and/or make them available to more people. And since inflation has been high lately, the increases for the 2023 tax year are larger than normal.

Let’s take a look at the inflation adjustments impacting tax deductions on your tax return for the 2023 tax year.

Standard deduction

The standard deduction amounts increased by about 7% from 2022 to 2023. For the 2023 tax year, the standard deduction is $13,850 for single people and married taxpayers who file separate returns (up from $12,950 for 2022), while married couples filing jointly and qualifying surviving spouses can deduct an amount twice that size at $27,700 (up from $25,900 for 2022). Head-of-household filers can claim a 2023 standard deduction of $20,800 (up from $19,400 for 2022).

Filing Status

2022 Standard Deduction

2023 Standard Deduction

Single

$12,950

$13,850

Married Filing Jointly

$25,900

$27,700

Married Filing Separately

$12,950

$13,850

Head of Household

$19,400

$20,800

Surviving Spouse

$25,900

$27,700

The additional standard deduction for age or blindness also increased for the 2023 tax year. It’s equal to $1,500 for joint filers, married taxpayers filing separately, and surviving spouses (up from $1,400 for 2022); and $1,850 for single taxpayers and head-of-household filers (up from $1,750 for 2022).

There are also limits on the standard deduction if you can be claimed as a dependent on someone else’s tax return. For 2023, it can’t exceed the greater of $1,250 (up from $1,150 for 2022), or $400 plus your earned income.

IRA deduction

The maximum deduction for contributions to a traditional IRA is larger for 2023 because the annual IRA contribution limit is higher. For the 2023 tax year, the deduction is worth up to $6,500 for people who didn’t reach their 50th birthday by December 31, 2023 ($6,000 for 2022). If you were at least 50 years old by the end of 2023, the 2023 deduction tops out at $7,500 ($7,000 for 2022).

Age at End of Year

2022 Maximum

2023 Maximum

Under 50

$6,000

$6,500

50 or Older

$7,000

$7,500

The IRA deduction is also gradually phased out (potentially to $0) if you or your spouse are covered by an employer-sponsored retirement plan. The phase-out ranges are based on your filing status and adjusted for inflation each year.

If you’re covered by a retirement plan at work, the 2023 deduction is phased out as follows:

  • For single and head-of-household filers, the deduction is reduced if your modified AGI is more than $73,000 (more than $68,000 for 2022) and is completely eliminated if your modified AGI is $83,000 or more ($78,000 or more for 2022)
  • For joint filers and surviving spouses, the deduction is reduced if your modified AGI is more than $116,000 (more than $109,000 for 2022) and is completely eliminated if your modified AGI is $136,000 or more ($129,000 or more for 2022)
  • For married taxpayers filing a separate return, the deduction is reduced if your modified AGI is less than $10,000 and is completely eliminated if your modified AGI is $10,000 or more (the $10,000 threshold was the same for 2022)

If you’re not covered by a workplace retirement plan but your spouse is, and you’re filing a joint return, the 2023 IRA deduction is reduced if your modified AGI is more than $218,000 (more than $204,000 for 2022) and is completely eliminated if your modified AGI is $228,000 or more ($214,000 or more for 2022).

You can’t deduct contributions to a Roth IRA.

HSA deduction

The contribution limits for health savings accounts also rose from 2022 to 2023, which means the maximum deduction for HSA contributions is higher for the 2023 tax year, too. But don’t forget that you must be covered under a qualifying high-deductible health plan to contribute to an HSA.

For 2023, the HSA deduction generally can’t exceed $3,850 if you have self-only coverage or $7,750 if you have family coverage (up from $3,650 and $7,300, respectively, for 2022). But if you were at least 55 years old at the end of 2023, you can deduct an additional $1,000.

Self-employed SEP, SIMPLE, and qualified plans deduction

Self-employed people can deduct contributions made to their own retirement plans. But like contributions to IRAs and HSAs, the deduction can’t exceed the annual contribution limit for the particular type of retirement account used – which were increased from 2022 to 2023.

For Simplified Employee Pension (SEP) IRAs, the maximum deductible amount for 2023 contributions is $66,000 ($61,000 for 2022) or 25% of your first $330,000 of compensation ($305,000 for 2022), whichever is lower.

You can put all your net earnings from self-employment in the plan: up to $15,500 in 2023 ($14,000 in 2022), plus an additional $3,500 in 2023 if you’re 50 or older ($3,000 in 2022), plus either a 2% fixed contribution or a 3% matching contribution.

The basic 2023 deduction limit for contributions by a self-employed person to his or her own Savings Incentive Match Plan for Employees (SIMPLE) IRA is $15,500 ($14,000 for 2022). However, you can deduct an additional $3,500 if you were at least 50 years old at the end of 2023 ($3,000 for 2022). Plus, you can deduct either 2% of the first $330,000 of your self-employment compensation ($305,000 for 2022) or an “employer match” of up to 3% of your compensation.

A self-employed person with a 401(k) plan (including a solo 401(k)) can deduct up to $22,500 in contributions to their own 401(k) account for the 2023 tax year if they’re under 50 years of age ($20,500 for 2022). That amount jumps to $30,000 if you were at least 50 years old at the end of the tax year ($27,000 for 2022). They can also deduct contributions of up to 25% of their net earnings from self-employment. However, their deduction for all contributions for the 2023 tax year can’t exceed $66,000 ($61,000 for 2022).

Student loan interest deduction

The student loan interest deduction is worth up to $2,500 per year. But your deduction will be phased-out if your modified AGI exceeds a certain amount that’s based on your filing status.

The phase-out ranges are adjusted upward each year to account for inflation. For the 2023 tax year, the deduction is phased out as follows:

  • For single filers, head-of-household filers, and surviving spouses, the deduction is reduced if your modified AGI is more than $75,000 (more than $70,000 for 2022) and is completely eliminated if your modified AGI is $90,000 or more ($85,000 or more for 2022)
  • For joint filers, the deduction is reduced if your modified AGI is more than $155,000 (more than $145,000 for 2022) and is completely eliminated if your modified AGI is $185,000 or more ($175,000 or more for 2022)

Married taxpayers filing separate returns can’t claim the student loan interest deduction.

TurboTax Tip:

If your parents or someone else pays your student loans for you, you can still claim the student loan interest deduction if you’re the one who’s legally obligated to pay off the loan. The IRS will treat the interest payment as if you paid it yourself.

Medical expense deduction

Premiums paid for long-term care insurance are generally deductible as a medical expense (although your total medical expenses are only deductible to the extent they exceed 7.5% of your AGI). However, the deduction for long-term care insurance is capped at an inflation-adjusted amount that’s based on your age at the end of the tax year.

For the 2023 tax year, the deduction is limited as follows (based on your age on December 31, 2023):

  • $480 if you’re 40 or younger ($450 for 2022)
  • $890 if you’re 41 to 50 ($850 for 2022)
  • $1,790 if you’re 51 to 60 ($1,690 for 2022)
  • $4,770 if you’re 61 to 70 ($4,510 for 2022)
  • $5,960 if your 71 or older ($5,640 for 2022)

If you drive your own car or truck to a medical appointment, you can also deduct related costs as a medical expense (again, subject to the 7.5% of AGI limitation). You can either deduct your actual expenses for gas, parking, tolls, and the like, or use the standard mileage rate to calculate the deductible amount.

The standard mileage rate for medical travel costs is 22 cents per mile for the entire year. For 2022, the rate was 18 cents per mile for the first half of the year and 22 cents per mile for the second half.

Self-employed health insurance deduction

A self-employed person can generally deduct premiums paid for health insurance for his or her family. The deduction also can be taken for the cost of long-term care insurance, but the same age-based caps listed above for the medical expense deduction for long-term care insurance apply to this deduction, too. As noted, those limits increased from 2022 to 2023.

Moving expense deduction for members of the military

As with the deduction for medical transportation costs, the 2023 standard mileage rate for the military moving expense deduction is 22 cents per mile for the entire year. The mileage rate for this deduction was also split for the 2022 tax year (18 cents per mile for the first half and 22 cents per mile for the second half).

Deduction for business expenses of reservists, performing artists, and fee-basis government officials

Certain business expenses of reservists, performing artists, and fee-basis government officials are deductible, including unreimbursed expenses related to the business use of a personal car or truck.

Eligible taxpayers using the standard mileage rate to calculate travel expenses (as opposed to the actual expense method) for the 2023 tax year can deduct 65.5 cents per mile. For the 2022 tax year, the rate for business use of a vehicle was 58.5 cents per mile for the first half of the year and 62.5 cents per mile for the second half.

Tax deductions that didn’t change for 2023

Tax deductions for the following expenses and payments didn’t change from 2022 to 2023:

  • Alimony
  • Amortizable bond premiums
  • Archer Medical Savings Account (MSA) contributions
  • Attorney fees and court costs for lawsuits involving certain discrimination claims or IRS whistleblower awards
  • Chaplain contributions to a 403(b) retirement plan
  • Charitable contributions
  • Estate “excess deductions” reported to a beneficiary on Schedule K-1 (Form 1041)
  • Estate tax (federal) on income connected to a person who died
  • Foreign housing deduction
  • Gambling losses (only to the extent of gambling winnings)
  • Impairment-related work expenses of a disabled person
  • Interest on borrowed money that’s allocable to property held for investment
  • Jury duty pay given to your employer
  • Losses from a contingent payment or inflation-indexed debt instrument
  • Losses from natural disasters or theft
  • Mortgage interest and points
  • Olympic and Paralympic medals or prize money
  • Penalties on the early withdrawal of certain savings
  • Pension contributions under Section 501(c)(18) of the tax code (i.e., to a pension created before June 25, 1959, funded only by employee contributions)
  • Reforestation amortization and expenses
  • Renting personal property if you’re not in the business of renting the property
  • Repayment of amounts under a claim of right over $3,000
  • Self-employment taxes
  • State and local taxes
  • Teacher and other educator expenses for classroom materials
  • Unemployment benefit repayments
  • Unrecovered investments in a pension

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  • Tax Advice, Expert Review and TurboTax Live: Access to tax advice and Expert Review (the ability to have a Tax Expert review and/or sign your tax return) is included with TurboTax Live Assisted or as an upgrade from another version, and available through December 31, 2024. Intuit will assign you a tax expert based on availability. Tax expert and CPA availability may be limited. Some tax topics or situations may not be included as part of this service, which shall be determined in the tax expert’s sole discretion. For the TurboTax Live Assisted product, if your return requires a significant level of tax advice or actual preparation, the tax expert may be required to sign as the preparer at which point they will assume primary responsibility for the preparation of your return. For the TurboTax Live Full Service product: Handoff tax preparation by uploading your tax documents, getting matched with an expert, and meeting with an expert in real time. The tax expert will sign your return as a preparer. The ability to retain the same expert preparer in subsequent years will be based on an expert’s choice to continue employment with Intuit. Administrative services may be provided by assistants to the tax expert. On-screen help is available on a desktop, laptop or the TurboTax mobile app. Unlimited access to TurboTax Live tax experts refers to an unlimited quantity of contacts available to each customer, but does not refer to hours of operation or service coverage. Service, area of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice.

  • TurboTax Live Full Service – Qualification for Offer: Depending on your tax situation, you may be asked to answer additional questions to determine your qualification for the Full Service offer. Certain complicated tax situations will require an additional fee, and some will not qualify for the Full Service offering. These situations may include but are not limited to multiple sources of business income, large amounts of cryptocurrency transactions, taxable foreign assets and/or significant foreign investment income. Offer details subject to change at any time without notice. Intuit, in its sole discretion and at any time, may determine that certain tax topics, forms and/or situations are not included as part of TurboTax Live Full Service. Intuit reserves the right to refuse to prepare a tax return for any reason in its sole discretion. Additional limitations apply. See Terms of Service for details.

  • TurboTax Live Full Service - File your taxes as soon as today: TurboTax Full Service Experts are available to prepare 2023 tax returns starting January 8, 2024. Based on completion time for the majority of customers and may vary based on expert availability. The tax preparation assistant will validate the customer’s tax situation during the welcome call and review uploaded documents to assess readiness. All tax forms and documents must be ready and uploaded by the customer for the tax preparation assistant to refer the customer to an available expert for live tax preparation.

  • TurboTax Live Full Service -- Verified Pro -- “Local” and “In-Person”: Not all feature combinations are available for all locations. "Local" experts are defined as being located within the same state as the consumer’s zip code for virtual meetings. "Local" Pros for the purpose of in-person meetings are defined as being located within 50 miles of the consumer's zip code. In-person meetings with local Pros are available on a limited basis in some locations, but not available in all States or locations. Not all pros provide in-person services.

  • Smart Insights: Individual taxes only. Included with TurboTax Deluxe, Premium, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits, and is available through 11/1/2024. Terms and conditions may vary and are subject to change without notice.

  • My Docs features: Included with TurboTax Deluxe, Premium TurboTax Live, TurboTax Live Full Service, or with PLUS benefits and is available through 12/31/2024. Terms and conditions may vary and are subject to change without notice.

  • Tax Return Access: Included with all TurboTax Free Edition, Deluxe, Premium, TurboTax Live, TurboTax Live Full Service customers and access to up to the prior seven years of tax returns we have on file for you is available through 12/31/2024. Terms and conditions may vary and are subject to change without notice.

  • Easy Online Amend: Individual taxes only. Included with TurboTax Deluxe, Premium, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits. Make changes to your 2023 tax return online for up to 3 years after it has been filed and accepted by the IRS through 10/31/2026. Terms and conditions may vary and are subject to change without notice. For TurboTax Live Full Service, your tax expert will amend your 2023 tax return for you through 11/15/2024. After 11/15/2024, TurboTax Live Full Service customers will be able to amend their 2023 tax return themselves using the Easy Online Amend process described above.

  • #1 best-selling tax software: Based on aggregated sales data for all tax year 2022 TurboTax products.

  • #1 online tax filing solution for self-employed: Based upon IRS Sole Proprietor data as of 2023, tax year 2022. Self-Employed defined as a return with a Schedule C tax form. Online competitor data is extrapolated from press releases and SEC filings. “Online” is defined as an individual income tax DIY return (non-preparer signed) that was prepared online & either e-filed or printed, not including returns prepared through desktop software or FFA prepared returns, 2022.

  • CompleteCheck: Covered under the TurboTax accurate calculations and maximum refund guarantees. Limitations apply. See Terms of Service for details.
  • TurboTax Premium Pricing Comparison: Cost savings based on a comparison of TurboTax product prices to average prices set forth in the 2020-2021 NSA Fees-Acct-Tax Practices Survey Report.

  • 1099-K Snap and Autofill: Available in mobile app and mobile web only.

  • 1099-NEC Snap and Autofill: Available in TurboTax Premium (formerly Self-Employed) and TurboTax Live Assisted Premium (formerly Self-Employed). Available in mobile app only. Feature available within Schedule C tax form for TurboTax filers with 1099-NEC income.

  • Year-Round Tax Estimator: Available in TurboTax Premium (formerly Self-Employed) and TurboTax Live Assisted Premium (formerly Self-Employed). This product feature is only available after you finish and file in a self-employed TurboTax product.

  • **Refer a Friend: Rewards good for up to 20 friends, or $500 - see official terms and conditions for more details.

  • Refer your Expert (Intuit’s own experts): Rewards good for up to 20 referrals, or $500 - see official terms and conditions for more details.

  • Refer your Expert (TurboTax Verified Independent Pro): Rewards good for up to 20 referrals, or $500 - see official terms and conditions for more details

  • Average Refund Amount: Sum of $3140 is the average refund American taxpayers received based upon IRS data date ending 2/17/23 and may not reflect actual refund amount received.

  • Average Deduction Amount: Based on the average amount of deductions/expenses found by TurboTax Self Employed customers who filed expenses on Schedule C in Tax Year 2022 and may not reflect actual deductions found.

  • More self-employed deductions based on the median amount of expenses found by TurboTax Premium (formerly Self Employed) customers who synced accounts, imported and categorized transactions compared to manual entry. Individual results may vary.

  • TurboTax Online Business Products: For TurboTax Live Assisted Business and TurboTax Full Service Business, we currently don’t support the following tax situations: C-Corps (Form 1120-C), Trust/Estates (Form 1041), Multiple state filings, Tax Exempt Entities/Non-Profits, Entities electing to be treated as a C-Corp, Schedule C Sole proprietorship, Payroll, Sales tax, Quarterly filings, and Foreign Income. TurboTax Live Assisted Business is currently available only in AK, AZ, CA, CO, FL, GA, IL, MI, MO, NC, NV, NY, OH, PA, SD, TX, UT, VA, WA, and WY.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/ for service terms and conditions. 

TURBOTAX DESKTOP GUARANTEES

TurboTax Desktop Individual Returns:

  • 100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. Excludes payment plans. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state software license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Audit Support Guarantee – Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2023 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax Desktop for the current 2023 tax year and, for individual, non-business returns, for the past two tax years (2021, 2022). Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt.

TurboTax Desktop Business Returns:

  • 100% Accurate Calculations Guarantee – Business Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. Excludes payment plans. You are responsible for paying any additional tax liability you may owe. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Tax Savings Guarantee – Business Returns: If you get a smaller tax due (or larger business tax refund) from another tax preparation method using the same data, TurboTax will refund the applicable TurboTax Desktop Business license purchase price you paid. Additional terms and limitations apply. See License Agreement for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt.

TURBOTAX DESKTOP

  • Installation Requirements: Product download, installation and activation requires an Intuit Account and internet connection. Product limited to one account per license code. You must accept the TurboTax License Agreement to use this product. Not for use by paid preparers.

  • TurboTax Desktop Products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees may apply for e-filing state returns. E-file fees may not apply in certain states, check here for details. Savings and price comparison based on anticipated price increase. Software updates and optional online features require internet connectivity.

  • Fastest Refund Possible: Fastest federal tax refund with e-file and direct deposit; tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.

  • Average Refund Amount: Sum of $3140 is the average refund American taxpayers received based upon IRS data date ending 02/17/23 and may not reflect actual refund amount received.

  • TurboTax Product Support: Customer service and product support hours and options vary by time of year.

  • #1 Best Selling Tax Software: Based on aggregated sales data for all tax year 2022 TurboTax products.

  • Deduct From Your Federal or State Refund (if applicable): A $40 Refund Processing Service fee may apply to this payment method. Prices are subject to change without notice.

  • Data Import: Imports financial data from participating companies; Requires Intuit Account. Quicken and QuickBooks import not available with TurboTax installed on a Mac. Imports from Quicken (2021 and higher) and QuickBooks Desktop (2021 and higher); both Windows only. Quicken import not available for TurboTax Desktop Business. Quicken products provided by Quicken Inc., Quicken import subject to change.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/ for service terms and conditions.

All features, services, support, prices, offers, terms and conditions are subject to change without notice.

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