TurboTax Facts
The year TurboTax was founded
When is 1984?
Taxpayers aged 65 or older may now qualify for a new "Seniors Deduction" of up to this amount on their federal return, provided they meet income requirements.
$6,000 for single, $12,000 for married
This is the guide that you should be using on every FS call, and as a first resort for all FS questions.
What is the FS End to End Guide?
Our internal social network that houses announcements, ad-hoc trainings, and questions/answers from experts.
What is Elevate?
I am a supplemental schedule to Form 1040 used to report "Additional Taxes." I’m where you’ll find things like Self-Employment tax, Household employment taxes, and Additional Medicare Tax.
Schedule 2
The current CEO of TurboTax
Who is Sasan Goodarzi?
Under the 2025 OBBB Act, workers earning up to $150,000 (single) or $300,000 (married) can now deduct up to what amount in cash tips?
$25,000
This is the status you move engagements to when they have not responded after following the 1:3:3 guidance.
What is On Hold/Unresponsive?
The name of the new type of retirement account for children born in 2025-2028.
What is a Trump Account?
I am used by employers to verify the identity and employment authorization of individuals hired for work in the United States. I must be completed within three business days of the hire date.
What is Form I-9?
The percentage of Americans who qualify to use TurboTax Free Edition
What is 37%?
For the 2025 tax year, the Child Tax Credit (CTC) was increased to a maximum of how much per qualifying child?
$2,200
This specific action must be selected at the bottom of the Welcome Organizer in order to update the client's price estimate and signal that the engagement is ready for preparation.
What is "Prepare Return"?
This TurboTax-branded calculator helps users estimate their refund or tax bill before they even start their return.
What is TaxCaster?
I am the form filed by a business when they want to request a change in their accounting method (such as switching from cash to accrual) or to correct a depreciation error from prior years.
Form 3115
TurboTax's Accuracy Guarantees agree to pay this for the customer if we make a mistake on their return.
What are penalties and interest?
To claim the new deductions for tips, overtime, or car loan interest, taxpayers will use this newly created IRS schedule.
What is Schedule 1-A?
If a Full Service expert receives a new customer contact within the last 15 minutes of their shift, this is the primary goal of that interaction to avoid working past their end of shift.
What is "Schedule a Follow-Up Appointment"?
The independent organization within the IRS that helps taxpayers with issues they have not been able to resolve.
I am the "Application for Individual Taxpayer Identification Number." I am used by people who are required to have a U.S. taxpayer identification number but who are not eligible for a Social Security number.
What is Form W-7?
True or False: The TurboTax "Audit Support Guarantee" means that a TurboTax professional will represent the taxpayer in person before the IRS.
False. It provides one-on-one question-and-answer support and information, but the standard guarantee does not include legal representation.
The OBBB Act significantly increased the cap for the SALT (State and Local Tax) deduction. What is the new maximum cap for this deduction in the 2025 tax year?
$40,000
When assessing document readiness, if the only missing item is this specific tax form, the expert is instructed to proceed with preparing the return and schedule the follow-up for when the client expects to receive it.
What is Form K-1?
The Intuit admin and HR website, where you can reach HR, adjust direct deposit and 401k, and apply for internal jobs.
What is Insight?
I am the "Alternative Minimum Tax – Corporations" form. I am used by certain large corporations to determine if they owe the 15% minimum tax based on their adjusted financial statement income.
Form 4626