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Turbotax 8888 Form: What You Should Know
Click On Form 8888: Allocation of Refund (Including Savings Bond) and then Apply this amount to the following expenses to receive a refund on a particular amount of tax in a particular year: • Medical expenses (excluding those paid to your own health insurance plan) • Expenses related to retirement accounts • Expenses paid to If you are claiming the medical expense deduction If you claim medical expenses on Form 2441, you can elect to have Form 888 (Application for Allocation of Refund) included on you. Your refund will be allocated as follows: • 80 to 80% of your gross income (up to the 2,300 per person limits) • The amount of your child tax credit The amount of your earned income credit To maximize your refund, allocate your excess after-tax income between the two accounts in this order of priority to maximize your refund. The IRS allows you to allocate a maximum of 2,300 (or 2% of the value of a non-exempt dollar amount) in combined refunds in any single year. IRS Form 8888: Direct Deposit of Your Tax Refund in Oct 16, 2023 — Guide to IRS Form 8888: Direct Deposit of Your Tax Refund in Multiple Accounts. Written by a Turbo Tax Expert • Reviewed by a Turbo Tax CPA. Where do I find form 8888 — Turbo Tax Support Jul 28, 2023 — Form 8888 is included in the Turbo Tax desktop CD/Download editions? Click on the File tab at the top of the program screen. Go through the pages Form 8888 (Rev. November 2021) — SIR General Instructions. Purpose of Form. Use Form 8888 if: • You want us to directly deposit your refund (or part of it) to either two or three. About Form 8888, Allocation of Refund (Including — SIR Use Form 8888 to directly deposit your refund (or part of it) to one or more accounts at a bank or other financial institution (such as a mutual fund, Form 8888: Allocation of Refund (Including Savings Bond IRS Form 8888 lets you allocate your federal tax refund to two or three separate accounts. Learn how to fill it out and more. Click On “Form 8888: Allocation of Refund (Including Savings Bond)” and then “Select a Bank or Financial Institution.
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Video instructions and help with filling out and completing Turbotax Form 8888
Instructions and Help about Turbotax Form 8888
Hello everyone and welcome to the class this is david a cox with Tech Talk America and today I have a special guest with me please welcome mr. chip Capelli also known as my accountant hi chip hi David how are I'm wonderful thank you for joining me here today we actually recorded this class several years ago and so we're decided to refresh it so that for any of you out there who have questions about filing your taxes online using TurboTax we want to walk you through everything and I you know I think the first place that we should probably start here chip is you know what does someone need in advance of starting this process like what do you have to have with you well whether you're using TurboTax or any online program or desktop program or going to an accountant information is always the most important thing so you should have all your w-2s 1099s if you have kids through your kids dates of birth social security number if you have a house your mortgage statement any brokerage statements 1099 some banks anything anything that you got where the envelope says important tax document enclose and just put that all together folder and and have it read have it ready or bring it to somebody like me but everything you have is important okay great so the other thing I thought that we really need to go over but you know just to not even waste people's time it is let's talk about who is this for and who is this really not a good solution for it because it's not for everyone right TurboTax is a great product it's a good consumer product but they're good for what we call simple returns and that...