A few weeks ago, I did a head-to-head comparison of TurboTax vs. TaxCut, and I also noted that TurboTax has been rated the best tax preparation software.
At the time, however, I wasn’t aware that you can use TurboTax for free if you make less than $30k. Note that I’m not talking about the free 1040EZ filing that they offer when you hit their homepage. Rather, I’m talking about their so-called Tax Freedom Edition, which is available as part of the Free File Alliance.
Note that this is a more or less complete version of TurboTax, with access to not only the 1040EZ, but also the 1040A and 1040 forms. In order to qualify, you must meet at least one of the following criteria:
- Earned an Adjusted Gross Income (AGI) for tax year 2008 of $30, 000 or less; or
- Qualify for the Earned Income Tax Credit (EITC); or
- Served Active Duty Military with AGI of $56, 000 or less
If you don’t qualify, be sure to sign up to win TurboTax for free. You have just under 12 hours left to enter. Good luck!
If you have an account with Vangaurd you can get the base and deluxe versions for free. Min account requirements might apply. I have used this opton for the past 3 years.
The free version (right on the home page) is not limited to the 1040EZ. Click through to the info to see what forms can be included. Even on it’s main info page [ http://turbotax.intuit.com/personal-taxes/online/free-edition.jsp ] it lists the 1040A and 1040 in the first bullet point of highlights.
You can also use TaxAct for free, either online or as downloaded software. I used TaxAct the last 3 years and TurboTax the last 2 years. Yes, I use more than one program to double check my filing and then I file the one with the larger refund. The last two years both TaxAct and TurboTax gave me the same results so I went with TurboTax because of their name and support.
I tried out turbotax, but there was one tax that couldn’t be filed for free – the K1. So I switched over to taxslayer. Taxslayer did the K1 form for free and was just as easy to use as TurboTax. I definitely recommend Taxslayer.
I have tried to download my AZ state tax and all I get is “error downloading your tax state. Try again.
human bean: Nice one. Vanguard does the same thing (I’ve written about it in the past).
Tax Freedom edition is pretty awesome. I definitely recommend it for college students, who almost always fall under that income threshold. Strange to think – if all goes well, this might be the last year I qualify!
If you have an account with T. Rowe Price, you can do your taxes on-line with Turbo Tax for free regardless of income.
Nickel —
Good advice. The Free File Alliance / Turbo Tax 1-2 is a knockout that I always suggest for people meeting the requirements.
I used to use it when I met the requirements and I think it does the job wonderfully!
MLR