Who can use the free version of TurboTax?

This year, taxpayers with an adjusted gross income of $39,000 or less, military personnel (including the National Guard and reserves) with adjusted gross income of $72,000 or less, or those who qualify for the Earned Income Tax Credit can prepare and file their federal and state tax returns for free with the IRS Free …

What is the catch with TurboTax free?

TurboTax Free Guarantee: $0 Federal + $0 State + $0 To File offer is available for simple tax returns with TurboTax Free Edition. 100% Accurate Calculations Guarantee: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest.

What does TurboTax free edition cover?

The Free Edition covers W-2 income and supports 1040EZ and 1040A returns. If your income only came from wages, Social Security, or interest and you don’t have many (or any) deductions, you would be able to use TurboTax Free Edition.

Is there an income limit for TurboTax free edition?

TurboTax Free Edition is not subject to income limits but only handles simple returns. Upgrades and additional services, such as TurboTax PLUS and Audit Defense, are available.

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Can someone else use my TurboTax?

A TurboTax Online account can only be used for one federal tax return. To do a tax return for someone else, you have to use a different account. … If you are a paid tax preparer, you cannot use TurboTax at all, either Online or CD/Download. TurboTax is only for consumer use.

Is TurboTax Safe 2020?

Is TurboTax reliable and safe? TurboTax keeps your information secure with data encryption. It also requires multi-factor authentication every time you log in to verify your identity.

Can I use the free edition of TurboTax?

If you make less than $34,000 per year, you can file your taxes for free with TurboTax Free File. This edition is required as part of the industry’s deal with the IRS. You can access the TurboTax Free File program here. TurboTax also offers a Free Edition for people who are filing very simple returns.

Why do I have to pay $40 on TurboTax?

The first $40 fee is the cost of TurboTax Deluxe. The second $40 fee is for using your refund to pay for your TurboTax fees. This process is called refund processing.

Is it worth getting TurboTax Deluxe?

Yes, it’s worth it to pay $60 to increase your refund (unless you are already getting back all the federal taxes that were withheld). The student loan interest will reduce your taxable income by $1,700, so your benefit should be 1,700 x your tax bracket.

What is the difference between TurboTax free and deluxe?

TurboTax Deluxe is able to process more forms than the free version is, so those individuals with more complex returns can benefit from it. If your return requires certain forms, it will prompt you to upgrade to the version capable of processing that form.

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Is TurboTax free for seniors?

@angels7babies There is no senior citizen discount, but you might be able to use one of the versions of free filing software.

Can I use free TurboTax if I have a 1099?

You cannot enter a 1099Misc or self-employment income when you are using the Free Edition. If you qualify, there is another free software program available from TurboTax which will allow you to enter self-employment income.

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