What feature in TurboTax helps you identify possible deductions?

What feature in TurboTax helps you identify possible deductions?

• A. The Deduction Finder tool
• B. The Tax Calculator
• C. The Refund Estimator
• D. The Audit Defense Service

Answer: (A)

The Deduction Finder tool is designed specifically to help users identify possible deductions they may qualify for when filing their taxes. This feature guides users through a series of questions and prompts, tailored to their individual financial situations, to uncover potential deductions that might otherwise go unclaimed. By using this tool, taxpayers can maximize their deductions, thereby potentially reducing their overall tax liability and increasing their tax refund. In contrast, the Tax Calculator focuses on estimating the amount of tax owed based on various parameters but does not actively identify deductions. The Refund Estimator provides an overview of how tax returns may result in refunds based on income and withholding, but it doesn't delve into specific deductions. The Audit Defense Service offers support in case of an audit, but it is unrelated to the identification of potential deductions during the preparation of a tax return.

The Deduction Finder tool is designed specifically to help users identify possible deductions they may qualify for when filing their taxes. This feature guides users through a series of questions and prompts, tailored to their individual financial situations, to uncover potential deductions that might otherwise go unclaimed. By using this tool, taxpayers can maximize their deductions, thereby potentially reducing their overall tax liability and increasing their tax refund.

In contrast, the Tax Calculator focuses on estimating the amount of tax owed based on various parameters but does not actively identify deductions. The Refund Estimator provides an overview of how tax returns may result in refunds based on income and withholding, but it doesn't delve into specific deductions. The Audit Defense Service offers support in case of an audit, but it is unrelated to the identification of potential deductions during the preparation of a tax return.