Step-by-Step Guide:
1️⃣ Log in to TaxWise Online – Access your TaxWise account and open the relevant tax return.
2️⃣ Navigate to Schedule A (Itemized Deductions) – Locate the section for itemized deductions where medical and charitable expenses are reported. (Add Form if is not yet on the loaded forms)
3️⃣Enter Medical Expenses 🏥 – Input qualified medical expenses such as doctor visits, prescriptions, and insurance premiums. Ensure expenses exceed the IRS threshold for deduction.
4️⃣ Enter Charitable Contributions ❤️ – Record cash and non-cash donations. For non-cash items, provide fair market value and necessary documentation (e.g., receipts).
Scroll down in Sch A form. Click on the blank cell on item no.11 then click on the gray arrow so that an icon of linking to another form will appear—click on it as well.
Click NEW then select A Detail.
A-Detail form will appear then scroll down to find the Other Medical Expenses section where you will do the itemization.
Scroll down again to find the Charity section where you will also do the itemization.
5️⃣ Verify and Review 🔍 – Double-check all entries for accuracy and ensure they meet IRS requirements for deductions.
6️⃣ Save and Submit ✅ – Save the return, review for any errors, and proceed with submission.
By following these steps, you can properly enter medical and charitable deductions in TaxWise Online, optimizing tax savings while staying compliant. 🚀