How to file your tax return FREE with Turbo Tax

The tax-filing season has begun.  You have until 04/15 to file your federal and state income taxes.

Today we will discuss how to file a Simple Tax Return with TurboTax Free Edition online software.

 

What is Simple Tax Return?

You can file with TurboTax Free Edition if you use form 1040 with no attached schedules.

Simple tax situations covered in TurboTax Free Edition:

• W-2 income
• Limited interest and dividend income reported on a 1099-INT or 1099-DIV
• Claiming the standard deduction
• Earned Income Tax Credit (EIC)
• Child tax credits

Situations not covered in TurboTax Free Edition include:

• Itemized deductions
• Business or 1099-MISC income
• Stock sales, rental property income
• Credits, deductions, and income reported on schedules 1-6, such as the Student Loan Interest Deduction

If you want to take a closer look at all products TurboTax offers, please visit TurboTax website here

 

Step-by-step instructions about

How to file tax return free with Turbo Tax

 

1. Follow the link to open TurboTax Free Edition, click “ File for 0” orange button, you should view the following

2. Select “I didn`t file taxes last year if this is your first time or chose your option. In my case, I selected used a CPA/Accountant option. Click Continue.

3. Create Intuit Account, write down your user name and password in a secure location

4. Check your phone, enter six digit Code, click continue

 

5. Basic introductions, enter your First, Last Name, date of birth, zip code address. Click continue.

6. Select your marital status: single, married, or it is complicated. By the way, when you file as married, you almost always save money on taxes. Read more if you have a common-law-marriage and whether you can file jointly.

7. Select your situation, such as kids, college, home ownership, rent…

8. Select your financial circumstances, such as:

• Job (need W-2 form)
• Donations to charity
• Bank account interest (form 1099-INT)
• College expenses (form 1098-T)
• Student loans (form 1098-E)
• Sale of investments (1099-B)
• Self-employment (1099-MISC, a summary of costs)
• Dividends (1099-DIV)
• Car registration fees
• Cryptocurrency trading
• Job expenses for primary job
• Medical expenses summary
• Social security benefits (SSA-1099)
• Child-care costs
• Retirement plan withdrawal (1099-R)

9. Review and adjust your personal information, income, and tax breaks summary
10. Sign now screens, enter your full legal name, your co-filer name and today`s date
11. Enter your personal information in details:
    • Name, SS#, date of birth, occupation
    • States you lived in last year
    • Dependent information and disability info
12. Confirm your marital status
13. Enter spouses personal information
    • Name, SS#, date of birth, occupation
    • States you lived in last year
    • Dependent information and disability info
14. Kids and dependents information (10 screens)
15. Enter your current mailing address
16. Did you have jobs in other states screen
17. Personal information summary
18. On the next screen click on the “ Not now” button that will take you to your Turbo Tax-Free Addition
19. You now entered all basic info, and you should see the following screen

9. Next, use your tax forms to enter the following information:
   • Wages and income
   • Deductions and credits
   • Health insurance
   • Other tax situations
10. Review your tax return for federal filing, fix any errors and issues
11. File your return for free. Please keep in mind, if you do not qualify for free filing (see checklist above) TurboTax may ask you to upgrade to the next edition.

 

Conclusion:

You may think I sell TurboTax products; I do not. However, for years, we used various versions of TurboTax Products. I love their one-screen questions, ease of use and the federal/state refund calculators at the top.

From my own experience, I enjoyed the flexibility of filing anytime on my PC, going back to return and be able to pause and research anything I need to learn more about. Again, I like the product and used it for years. I hope the post can help you to file your return faster, more comfortable and free with TurboTax Free Edition.

Moreover, remember, the 2018 Income Tax deadline is 04/15/2019.