![]() ![]() The Deluxe Edition is the most popular paid TurboTax plan since it accommodates taxpayers with a typical middle-class tax situation but doesn’t necessarily have all the bells and whistles associated with the more expensive plans.Īmong other things, this edition allows you to take the following tax deductions and credits: Next I’ll give an overview of each of the TurboTax plans followed by another table, this one showing what’s covered and what’s not in all of them. Small Business Owners, Including Freelancers You’ll find that their prices are typically higher than H&R Block and other competitors. While TurboTax is an excellent product, it definitely comes at a premium. I’ll get into the details of each of these plans later, but for now let’s touch on pricing. If you have any semblance of complexity in your tax situation whatsoever, you’ll likely need to pony up for one of TurboTax’s paid editions, be it the Deluxe, Premier, or Self-Employed. ![]() On May 4, 2022, TurboTax’s parent company, Intuit, entered into an agreement with the state attorneys general of all 50 states along with the attorney general of the District of Columbia, to not usher users into one of its paid products if it’s eligible to use a free product, whether it be TurboTax Free Edition or using TurboTax to use the IRS Free File program. In fact, the TurboTax Free Edition is quite limited compared to the H&R Block Free Online Edition.īelow is a table comparing what you get with the TurboTax Free Edition with what you get with H&R Block Free Online.Īs you can see, the H&R Block Free Online Edition provides support for far many tax situations than the TurboTax Free Edition. If your tax situation is more complicated than that, you’ll need to use one of the paid editions. who has a small amount of interest and dividends,.whose only income is reported on a W-2,.The only problem is that your tax return has to be extremely simple for you to qualify to use the Free Edition. If you would otherwise qualify to have your return prepared for free, this TurboTax Live service is specifically called TurboTax Basic.īut if you qualify for a free return through TurboTax Free Edition, I’m not really sure if you need a professional to look over your return because your return is likely quite simple. TurboTax Live: If you would like a real tax expert to review your “free” return through TurboTax Live, you will have to pay a fee for both federal and state review. Unlike some tax software that gives you a free federal return but then makes you pay to file your state return, the TurboTax Free Edition is free for both your federal and state returns. The good thing about the TurboTax Free Edition is that it’s truly free. If you need more, though, it may be worth looking into other offerings in your area or, at least, speaking to a local account about their services and fees.I like to start my tax software reviews by discussing the free version of the software since I know that this piece of information is all some of my readers want to know about. For the majority of taxpayers who only need basic 1040s filed, TurboTax can be a great option, offering expert guidance at a low price (or even for free, in many cases). The best tax filing option depends on the complexity of your financial situation and your budget. Online guidance may not be enough to file your returns accurately or to maximize your refund. If you have a more complex tax scenario, you may be best served with a dedicated accountant who can get to know your financial situation personally. Last but not least, TurboTax is not ideal for those with complicated tax situations. If you're not well-versed in the tax process or need extra hand-holding with your returns, this might be a dealbreaker. There also aren't any physical locations like H&R Block and other similar services offer. ![]() On the downside, TurboTax doesn't offer expert assistance with every package, so if you opt for the free and basic version, you may find yourself in need of more guidance along the way. ![]()
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