Free Turbo tax From Fidelity
- Thread starter JPatrick
- Start date
Ha! I agree. Next thing you know people that have been using Quicken for decades will start using paper/pencil so they don't have to subscribe!
Al in Ohio
Thinks s/he gets paid by the post
I can see the link that takes me to the Intuit page that lets me start TurboTax Premiere online for free, but I cannot see where or how to get a downloaded version to do and store my work on my Mac instead. Am I missing something?
Dtail
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
MisterBill
Recycles dryer sheets
Yes. Scroll down on that initial TT page (do not click on the initial link to start filing with Premier, and you'll see a link to purchase the download version.
CRLLS
Thinks s/he gets paid by the post
FWIW, I have less than 5 digits of non-retirement investments at Fido. I am not an Active Trader let alone an Active Trader VIP. I have no 401K there anymore. Yet I get the TT for free. I am not in the Private client group either. So much for published requirements.
Al in Ohio
Thinks s/he gets paid by the post
copyright1997reloaded
Thinks s/he gets paid by the post
So I have ex-mega corp 401K at FIDO, along with my current employer's 403B and a non-retirement account. Fido reps have been chatting with me lately, asking what they could do for me, likely because they see lots of assets in Full View that are other places.
Honestly, seeing this discussion about Turbo Tax, having it show for some, having others have to contact their "advisor" and so on...makes me less inclined to move assets their. I don't like games, especially when it comes to treating me right as a valued customer. I include in games having to call my advisor to get something as basic as this straightened out and/or having them do me a "favor".
Perhaps I'm just cranky today, but doesn't this bother some of you? All for software that can be bought for $30 or so?
Honestly, seeing this discussion about Turbo Tax, having it show for some, having others have to contact their "advisor" and so on...makes me less inclined to move assets their. I don't like games, especially when it comes to treating me right as a valued customer. I include in games having to call my advisor to get something as basic as this straightened out and/or having them do me a "favor".
Perhaps I'm just cranky today, but doesn't this bother some of you? All for software that can be bought for $30 or so?
Al in Ohio
Thinks s/he gets paid by the post
You get the $100 TT Premier for free with over $1M in assets in accounts. You can however contact your advisor if your combined household is “close to $1M “ and they will reimburse you if you buy it yourself.
MisterBill
Recycles dryer sheets
Yes, I do think you're being cranky (since you asked). Fidelity probably never expected people to compare notes on the Internet, although obviously we've done it for years now here and on at least two other sites I'm aware of. If you think you qualify based on the requirements on their website (and maybe even if you don't), then definitely contact your rep. As Al said, they have reimbursed some people for it.
MisterBill
Recycles dryer sheets
It's also not why I use them, but I'm certainly happy to have it since it saves me from buying it myself. Sure beats the box of fruit I used to get from Morgan Stanley.
Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
robls
Recycles dryer sheets
- Joined
- Sep 29, 2003
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Not sure. I think the credit was for $60.
38Chevy454
Thinks s/he gets paid by the post
It is a provided benefit, so not taxable income; and no 1099. Also because of that you can't claim the $100 expense value on your itemized deductions if you itemize on your taxes. With the new tax law and the increased std deduction, along with limits on state and local taxes, I think many on the forum here no longer itemize anyway. In my case last year was the first time I have not itemized in probably 30 years.
MisterBill
Recycles dryer sheets
Just to be clear, I was asking about the reimbursement amount for those who did not get the offer but whose Fidelity rep agreed to cover the cost of buying it. Depending on how they code the reimbursement, I could see it being taxable, the same as reimbursement for the closeout fee on an account transfer in is.
Obviously those of us who get it free do not pay tax on it.
38Chevy454
Thinks s/he gets paid by the post
I still maintain it is a benefit, Fidelity is just reimbursing you for your out of pocket, so net income is zero. It seem considering it income would cause Fidelity a lot of angry customers. For Fidelity it is just a business expense.
LarryMelman
Recycles dryer sheets
I have posted my story many times, but not in this thread.
I have been with Fidelity since the late 1980's. My statements all say "Private Client Group" and "Fidelity Premium Services" although no one ever explained what these things mean. I usually visit the local office once a year for one reason or another, but I don't have an assigned advisor.
Awhile back, I had gotten the TT offer 2 or 3 times in a row. Then in about 2018, I didn't. I messaged Fidelity and was told that I no longer qualifed for it. A phone rep used the exact words that "my relationship with Fidelity was insufficient". With over $2M in various accounts, owning maybe $1M of their mutual funds, and over 30 years with them.
I told this story to my Schwab rep where I had a small account, and he gave me something like $2500 for moving $1M of assets to them. Which was done quickly and easily. It will pay for TT for the rest of my life. Fidelity has gotten no new money from me since. I have told this tale to the drones in the local office and they plead total ignorance.
I still have a couple accounts at Fidelity which total a bit over $1M, and the web site still says "Private Client Group". I don't see anything about TT. Those of you that have it, where did you find it?
The only thing I can find is under "Tax Information" where I can get TT Premier Online discounted from $70 to $55, or TT Premier Download discounted from $100 to $85. I'm sure I can buy it on my own for less.
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MisterBill
Recycles dryer sheets
It is on the page you get to by going to Accounts & Trade and then Portfolio. It will be on the bottom of the page, near the box suggesting that you make an IRA contribution. Pretty sure it's the same place it's been all along, since you said that you've had it in the past.
And there is at least anecdotal evidence that not having a rep assigned can be one reason why you do not receive the offer.
MisterBill
Recycles dryer sheets
But I doubt that Fidelity has a way of giving customers money without it being considered taxable. Reimbursing you for an account transfer fee is also a business expense for them, yet it's taxable for the person who received it.
Thanks for confirming. That is what I expected.
LarryMelman
Recycles dryer sheets
There is nothing on my portfolio page.
And regarding not having a rep assigned - the people in the local office were clueless about this. And the person I talked to (to roll over an IRA, IIRC) did not offer to sign me up with anyone. I don't think anyone has ever offered to be my rep.
explanade
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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- Messages
- 7,442
Well my parents used to be PCG, paid a lot in fees annually. My father passed away 3 years ago and I took over managing my mother's assets under trust.
Last year I moved her IRA and the trust after-tax assets out of professional management at the end of November, start of December.
We still got the Turbo Tax with her login but this year, not seeing it yet.
In the summary page, it shows PCG and the assigned FA still on the upper-right hand corner.
In the left column, they show the "Professionally Managed Accounts" which all have zero balances as I've moved them all to a standard account holding mostly Fidelity zero cost funds.
So I imagine if I sent a message to the FA to ask about it, he'd probably say you're no longer PCG so no free Turbotax.
Al in Ohio
Thinks s/he gets paid by the post
They reimburse you by putting the amount of your receipt directly into your Fido cash account.
