Free Federal Deluxe Turbotax

[mystang52]

Maybe everyone knows this already, but just in case: Beside insurance, State Farm has a bank. One can open a $500 CD and thereby become a State Farm customer.
In turn, you can then register your acount online and become eligible for free Deluxe Federal. That's as far as I got [I'll do the rest when I get home from w*rk]. I believe the State versions are discounted.

The one year CD rate is .60%, but on $500 the loss of interest is negligible, far outweighed by the savings in getting the free Turbotax.

 

[Dimsumkid]

You just need to have an account of some kind with them. Others have stated you can get this with a free checking account, a savings account for $100, or a credit card too.

 

[braumeister]

Just the online Turbotax, or the downloaded version?

 

[Texas Proud]

Just the online Turbotax, or the downloaded version?

Same question... I do not want the online version.... I think I can get it either free or cheap at a few places, but not the downloaded one...

 

[skipro3]

My credit union has been offering this for years to it's customers. It's a tab on your account you can click and it's all on-line. I kinda prefer it this way as it eliminates any computer failures I might have at home without a back-up. This is NOT a downloaded version, this is running an o-line version. Nothing is loaded to your computer. (That I can tell)

Not everything that is free is really free.. While the program is free, you have to pay a fee to actually file. The fee increases if you want to e-file and if you want e-funds deposit or to make a payment.

I've noticed it's smart enough to transfer my banking info and last year info over if I've been using Quicken as well.

 

[Dimsumkid]

I haven't done this yet, but for a $100 savings acct, thought it might be worth a shot. Here's what others posted about it on FW:

Online Products:
Basic and Deluxe - FREE (Prepare and efile one federal tax return)
Premier - $20
Home and Business $30.00

If you prefer the download versions, after you login, there is a button towards the bottom for "Buy Download":

Download Versions:
Basic--FREE (Prepare unlimited federal tax returns; efile up to 5 free)
Deluxe--$20 (Prepare unlimited federal tax returns; efile up to 5 free)
Premier--$30 (Prepare unlimited federal tax returns; efile up to 5 free)
Home & Business--$40 (Prepare unlimited federal tax returns; efile up to 5 free)

 

[Coach]

Now that I'm retired I discovered that my income is low enough to use Free File at irs.gov. You select from among multiple suppliers, and some may offer free state efiling as well. I selected Intuit's offering and it looks pretty much identical to Turbotax online.

Coach

 

[FANOFJESUS]

Does Turbotax save you information each year for free filers? Or do you fill it all out each year?

 

[Alan]

Does Turbotax save you information each year for free filers? Or do you fill it all out each year?

Not sure about Turbotax but the free version of TaxAct does not save your details from year to year. (my son uses the free version of Taxact)

 

[easysurfer]

Does Turbotax save you information each year for free filers? Or do you fill it all out each year?

Not sure about TT online.

But I know for the CD version, if I remember correctly, each year you use the TT software, TT creates a tt file for you. Then when the next year comes, when you start off the program it'll ask do you wish to do taxes from scratch or start from last year's file. If you choose the later, TT will gather your personal info so you don't have to enter your name, ssn, address again. Also, TT will compare your current year info with what you used the previous year (for example, income, deductions this tax year vs previous)

 

[mystang52]

Does Turbotax save you information each year for free filers? Or do you fill it all out each year?

Not sure about the "free filers" but I've been using Turbo Tax for years and it saves all of my prior information.

 

[akck]

The problem with the "free" or reduced cost version is they charge $25-40 for the state version. I found a link to Amazon where you can download the deluxe federal and one state for $39.79:

http://www.amazon.com/TurboTax-Delu...Y13K/ref=sr_1_2?ie=UTF8&qid=1327600593&sr=8-2

In checking various offers, the cost of the state varies inversely with the cost of the federal version. The combination cost is usually $40+. While I live in a no income tax state, I do my kids' taxes and they live/work/go to school in the same state which has an income tax.

My experience with the free version is that you have to input your information again. I stopped using it when TT included 5 free efiles with the software years ago, so I have no recent experience.

 

[Mulligan]

Now that I'm retired I discovered that my income is low enough to use Free File at irs.gov. You select from among multiple suppliers, and some may offer free state efiling as well. I selected Intuit's offering and it looks pretty much identical to Turbotax online.

Coach

This has always bothered me. It seems that the government would prefer efiling and since they are the ones demanding the taxes, online filing
should be free and directly through irs website for all incomes. Going through turbo and whoever seems like an unnecessary middle man demanding a cut of the action. I continued to do the "old school" paper method until I read the vast majority does it online and PO didnt have tax forms anymore, nor did IRS send me any. So last year I threw in the towel, and finally joined the herd of people willing to pay money to do their own taxes.

 

[Dreamer]

This has always bothered me. It seems that the government would prefer efiling and since they are the ones demanding the taxes, online filing
should be free and directly through irs website for all incomes. Going through turbo and whoever seems like an unnecessary middle man demanding a cut of the action. I continued to do the "old school" paper method until I read the vast majority does it online and PO didnt have tax forms anymore, nor did IRS send me any. So last year I threw in the towel, and finally joined the herd of people willing to pay money to do their own taxes.

I agree with you. It should be free, if they want you to file. I call the IRS and ask them to send me the forms that I need. I just received a postcard from them today saying that they are not available in print yet. I will wait.

 

[Packman]

FIDO provides a TT CD to me each year. If you are a regualr customer, I think they provide the online version for a small fee. If you are in their Private Client Group, ask your account rep for the CD - they will mail it to you.

 

[Mulligan]

I agree with you. It should be free, if they want you to file. I call the IRS and ask them to send me the forms that I need. I just received a postcard from them today saying that they are not available in print yet. I will wait.

Eventually they will tell you that paper forms arent available until after April 15 th I just completed my taxes and went through Vanguard to cut filing expenses a bit.