- TurboTax Free Tax Preparation
TurboTax Free Edition Offers Free Tax Preparation
Whether you are preparing your own simple tax return, or helping a family member prepare his or her taxes, free tax preparation may be the best way to go. TurboTax Free Edition offers a totally free federal return to people who have simple tax returns and are comfortable completing them without much help.
The rebates offered by the 2008 economic stimulus plan in the U.S. are prompting many citizens who are not usually required to file taxes to complete a 2007 tax return. That's because anyone who is eligible for a rebate check must file a 2007 tax return in order to receive the rebate. This includes low-income families as well as people living on Social Security or Veteran's Benefits or Railroad Benefits.
Free tax preparation with TurboTax Free Edition is a great option for these filers, because it includes an abbreviated filing experience that makes it easy and free to file a brief return. It only asks for the minimum information the IRS requires to qualify you for a rebate. Plus, TurboTax Free Edition offers free e-file, so there's nothing to mail to the IRS. This can help ensure your rebate check arrives as early as possible.
If you rent your home, don't have investments and are not itemizing your deductions, TurboTax Free Edition offers a quick, free tax preparation method that will easily handle your simple return (1040 EZ, 1040A, etc.). Your federal return and e-file will be completely free.
To save time, you can also transfer your information to TurboTax State and file your state taxes for a small additional fee.
TurboTax Free Edition does not support schedules C, D, E, and F (required for people who own a business or have sold investments), but simple tax returns usually don't require these forms.
Also, if you had recent changes in your life that add complexity to your taxes (getting married, buying a house, having children, inheritances, investments, etc.) you may want extra guidance while completing your tax return. If you've made a lot of charitable donations and want to make sure you get full value for them, you'll benefit from using ItsDeductible—built-in to TurboTax Deluxe and above. Or perhaps you'd just feel more comfortable with additional assistance and tools like the TurboTax Live Community, where you can get live answers to your questions from tax experts and the TurboTax community. In these cases, free tax preparation is probably not your best choice.
TurboTax offers a variety of products that provide extra help with things like charitable donations, mortgage interest, childcare or medical expenses, investments or self-employment income. You can even use TurboTax to have a tax professional complete and file your return for you.
Need help deciding? Answer a few simple questions and we'll suggest the best product for you.
