It is available to residents of all the states, and there are no other restrictions. However, it is important to point out that the free edition does have some great benefits. Additionally, there is a hefty fee if you want to use your refund to pay your filing fees when you use the company’s Refund Transfer service. You also need to upgrade to a paid plan if you want to store or access your past year returns. This free filing plan is also suited to simple tax situations, but it is not set up to help those with self employment income, rental property income, capital gains or losses, ordinary dividend income or interest. If you’re 51 or younger at the end of the most recent tax year, you qualify for Earned Income Tax Credit or your gross AGI was less than $69,000, you are eligible for the H&R free federal filing program that also includes free unlimited state returns.
However, the company also has a user friendly, yet powerful online option for those who want to file at home. H&R Block is one of the best known tax preparation firms in the United States with thousands of storefront outlets across the country. However, there are different Turbo Tax plans at different price points, so if the free version is no longer suited to your needs, you can easily upgrade without losing your information. If you’re looking to pay tax prep fees using your federal refund, you’ll also face a hefty processing fee. At this price point, you’ll also find that the customer support is more limited, it is based primarily on technical issues rather than individual queries. Additionally, if you qualify for some of the common tax credits, including student loan interest deduction, the free plan will not be sufficient for your circumstances. If you have a complex tax situation such as rental property income, business income, capital gains income, or significant interest, you’ll need to upgrade to one of the paid plans.
However, the free edition of TurboTax is not appropriate for everyone. There is no maximum income limit, and it is available to residents in all 50 states.
This not only makes it a little less daunting but reduces the chances of a preventable error. The tax preparation interface is intuitive and can be completed with simple questions to guide you through the filing process.
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