Free Turbo tax From Fidelity

[Al in Ohio]

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.

PCG has nothing to do with it. I have never been PCG. You hit one million your TT is free. You have to be VERY alert as to the timing and where on the screen.

 

[MisterBill]

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.

So presumably she was a PWM customer and is not any longer. These are the terms on the Fidelity page that mentions free TT. Notice that PWM customers do seem to be it automatically so long as they have a non-retirement account. I bolded the "or" because it makes it easier to understand. The whole thing should really be in a table, or at least a list.

Is your mother's account $1m or more?

Certain covered clients: Private Wealth Management (PWM) client and owns one or more nonretirement account(s) or PCG, Premium, and ATS clients with minimum assets of either: PWI assets of $1,000,000 or more and PI assets of at least $500,000 and own one or more nonretirement account or Nonretirement assets $1,000,000 or more. Applies to Federal returns and one state return only. Cost of additional state returns are the responsibility of the client.

 

[explanade]

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.

Have you ever paid them management fees on your investments?

 

[523HRR]

Free link showed up today....earliest that I can remember.

 

[explanade]

PCG has nothing to do with it. I have never been PCG. You hit one million your TT is free. You have to be VERY alert as to the timing and where on the screen.

So presumably she was a PWM customer and is not any longer. These are the terms on the Fidelity page that mentions free TT. Notice that PWM customers do seem to be it automatically so long as they have a non-retirement account. I bolded the "or" because it makes it easier to understand. The whole thing should really be in a table, or at least a list.

Is your mother's account $1m or more?

Certain covered clients: Private Wealth Management (PWM) client and owns one or more nonretirement account(s) or PCG, Premium, and ATS clients with minimum assets of either: PWI assets of $1,000,000 or more and PI assets of at least $500,000 and own one or more nonretirement account or Nonretirement assets $1,000,000 or more. Applies to Federal returns and one state return only. Cost of additional state returns are the responsibility of the client.

OK, my parents had a trust account which was worth more than $1 million.

When I moved it out of the managed account with the steep fees, the actually moved it under my Fidelity account login, because I am the sole trustee of a revocable trust.

Still not understanding that but income earned on it reports to her SSN while I have two very small balance accounts, one post-tax and one HSA.

She has an IRA under her old Fidelity login, it's a good amount of money but well under $1 million.

Last year, the free turbo tax came out of her login, with the under $1 million balance.

OTOH, my login, with the trust account which was over $1 million did not get the free turbo tax.

Maybe they gave it under her account one last time, because we had most of the assets under managed accounts for most of 2019.

Like I said, her login still shows PCG and the old FA name. My login shows PCG without any FA name. What is PWI or ATS?

 

[LarryMelman]

Have you ever paid them management fees on your investments?

I've paid fees in their mutual funds for over 30 years. And lots of brokerage commissions.

 

[MisterBill]

Free link showed up today....earliest that I can remember.

Actually, except for last year (when it only showed up in January due to some other updates the Fidelity people had to do first due to tax law changes), this is the time it has shown up.

 

[MisterBill]

Like I said, her login still shows PCG and the old FA name. My login shows PCG without any FA name. What is PWI or ATS?

PWI = Personal & Workplace Investments (aka 401k/pension/ESPP/etc.)
PI = Personal Investments (individual, joint, IRA, Roth IRA, etc. accounts)

Not really sure about ATS. In a thread on another financial site, someone said "As for ATS, Alternative Trading System seems to be a "thing" in the financial services industry, but I have no idea if that is being referred to on that website page."

Not sure what you can do since it seems like you're no longer doing business with the former rep. You should try to get a rep on your account, maybe they could agree to reimburse you.

 

[MisterBill]

I've paid fees in their mutual funds for over 30 years. And lots of brokerage commissions.

So have lots of other people who also did not qualify for the offer.

 

[PatrickA5]

Even though I bought TT over a month ago, I've found myself logging in over a half dozen times the last few days just hoping to see the gold appear in my account. I no longer care if my accounts goes up or down $$thousands - only free TurboTax. Must be a sickness.

 

[latexman]

Some underling wrote back stating I needed to have over $1Mill on account not including retirement accounts.

Thanks. I have an IRA, Roth IRA, and MegaCorp’s 401k at Fidelity. This explains why I’ve never seen the free TT offer.

 

[FIREd_2015]

Thanks. I have an IRA, Roth IRA, and MegaCorp’s 401k at Fidelity. This explains why I’ve never seen the free TT offer.

I've never had anything close to $1 Mil in my account if I exclude retirement accounts. My understanding is that individual accounts (IRA, ROTH IRA) count towards the $1 Mil but not institutional accounts (401k, 403b, etc.)

 

[JoeWras]

I only have retirement and HSA, so I don't have the link regardless of the amount.

I mean, geez, the S&P moves .01 and that blows away any effect of getting the free TT. I get it, we like perks. But there has to be some perspective here.

 

[samm]

Free TT Premier. This is how it looks on Fidelity page

this is what it looks like

 

[MisterBill]

I've never had anything close to $1 Mil in my account if I exclude retirement accounts. My understanding is that individual accounts (IRA, ROTH IRA) count towards the $1 Mil but not institutional accounts (401k, 403b, etc.)

Yes, that's what I think as well. You need $1m total of which $500k has to be in retail (what you called not institutional) accounts.

Or be an active trader or use their PWM service.

Or just be lucky.

 

[Spanky]

this is what it looks like

That's the online version, not the one that you could download into your computer, right?

 

[audreyh1]

That's the online version, not the one that you could download into your computer, right?

It's both. You click on that Fidelity link and it takes you to the TurboTax site. You'll see the online versions, but if you scroll down, you see a link to the download versions. Follow that and you'll get Premier download free.

 

[MisterBill]

It's both. You click on that Fidelity link and it takes you to the TurboTax site. You'll see the online versions, but if you scroll down, you see a link to the download versions. Follow that and you'll get Premier download free.

Right, they always say online on the Fidelity website, but you can get the download version if you look around (and it's not that difficult to find) I wonder how many people see the box with the free offer and don't click it because they don't want to use the online version?

 

[Spanky]

It's both. You click on that Fidelity link and it takes you to the TurboTax site. You'll see the online versions, but if you scroll down, you see a link to the download versions. Follow that and you'll get Premier download free.

Thanks a lot. Scrolling down is the only way to find it.

 

[misanman]

Most of our Fidelity balance is in retirement accounts. About 25% is in investment accounts (well below $1M) and we still got the offer.

 

[eytonxav]

I was waiting for the offer to show up. Downloaded TT this morning, thanks again Fidelity for another free year of TT.

 

[steelyman]

Rookie mistake (first-time TurboTax user this year): I see the link on my Fidelity account as discussed in this thread. I’d already purchased and installed the software. Live and learn!

 

[MisterBill]

Rookie mistake (first-time TurboTax user this year): I see the link on my Fidelity account as discussed in this thread. I’d already purchased and installed the software. Live and learn!

Intuit offers a refund, just check their website.

 

[robls]

Just received the following email from my Premium Services rep after emailing him.
"Rob,
Good morning, I apologize for the delay but wanted to get everything through proper channels before responding. We can do the goodwill again for 100 dollars. We have to wait until January of 2021 when it resets to allow us to do the 100 dollar goodwill again – We will reach out once we are able to provide that to your account."
They deposited the goodwill in our joint savings account.
The description in our account is as follows:
"JOURNALED GOODWILL (Cash)"
Just call Fidelity, get hooked up with a Premium Services representative and ask for the goodwill.
Hope this helps others.

 

[copyright1997reloaded]

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.

Probably right (cranky).

Not worth calling, especially since I already bought H&R Block version on a deal recently.

But it does make me think that they aren't that really serious about keeping or adding to that $1.8M I have in accounts there as I go about consolidating.

As an aside, I can remember way back when Datek sent me a combo DVR/VHS recorder along with a couple year subscription to NetFlix (when it was discs in the mail). And that was for significantly less money being held.