Generally, if you earn interest income on an account that you can use or withdraw from at any time without paying a penalty, then the interest income is taxable. You would need to include the inter...
Find out how to enter your IRA rollovers, conversions and nondeductible IRA contributions, such as a "backdoor Roth" contribution, for your federal return on Credit Karma Tax. Roth Rollovers or Con...
The Mortgage Interest Credit and the Home Mortgage Interest Deduction are tax breaks tied to the purchase of a primary residence through use of a mortgage. However, since one is a deduction and the...
If your income was too high, you might not be able to deduct student loan interest. You can deduct interest you paid on a student loan for yourself, your spouse or any person who was your dependent...
Land is classified as real property for a business. Land cannot be depreciated because it is considered to have an unlimited useful life. Go to this section in Credit Karma Tax: Sales of Business o...
For federal returns, no. You must both itemize your deductions or you must both take the standard deduction. For example, if you and your spouse file separate returns and your spouse claims itemi...
Make sure you entered the correct phone number and re-enter your number if necessary. You can also have us resend the code. We are not able to send codes to non-fixed VoIP phone numbers such as Goo...
Credit Karma Tax supports the most-common federal tax forms and schedules. You can check out the complete list of forms we support here. But we can’t do everything just yet. These are some forms an...
Use Identity Monitoring on Credit Karma to check if you’ve been involved in a data breach. If you discover that your information has been exposed in a data breach, don’t panic! Here are some steps...
Your scores can be updated as often as once a week. Any update is triggered automatically when you log in. You can see when your scores were last updated under each credit score: TransUnion Equifa...