Tag: turbotax freedom edition

TurboTax Freedom Edition: An Overview

The TurboTax Freedom Edition, not to be confused with the regular Free Version, is a tax preparation software offered by Intuit¹. It’s designed for individuals with simple tax returns and offers free federal and state tax preparation⁴.

TurboTax Freedom Edition
TurboTax Freedom Edition

Who Can Use It?

The Freedom Edition is ideal for those with W-2 income and those looking to maximize tax credits for dependents¹. It’s also suitable for individuals who qualify for the Earned Income Tax Credit (EIC) and Child Tax Credit¹.

Features

The software is user-friendly and guides users step-by-step through the tax filing process¹. It allows users to import their W-2 forms, answer basic questions about their life, and get their maximum refund¹. The software also offers features like CompleteCheck™, which scans your return to ensure it’s 100% accurate¹.

Limitations

While the Freedom Edition is more fully-featured than the regular Free Edition, it’s intended for simple tax returns only⁴. It does not cover situations like itemized deductions, unemployment income reported on a 1099-G, business or 1099-NEC income, stock sales, rental property income, or credits, deductions and income reported on other forms or schedules².

Customer Reviews

Users have praised TurboTax Freedom Edition for its ease of use and helpful features. Some testimonials include appreciations for its user-friendly interface and stress-free tax preparation process¹.

In conclusion, the Freedom Edition is a valuable tool for individuals with simple tax situations looking to file their taxes at no cost. However, it’s important to understand its limitations and ensure it suits your specific needs before using it. For more complex tax situations, other versions of TurboTax may be more appropriate.

(1) Free Tax Filing with Free Edition – See if you Qualify. https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp.
(2) Solved: Do I qualify for the TurboTax Freedom Edition if I’m self …. https://ttlc.intuit.com/community/taxes/discussion/do-i-qualify-for-the-turbotax-freedom-edition-if-i-m-self-employed-and-earned-less-than-33k-it-told/00/752681.
(3) TurboTax® Free Edition – Customer Reviews. https://turbotax.intuit.com/reviews/online/free-edition/.
(4) TurboTax Free Edition 2023 + Free State (Income Limit?) – Mighty Taxes. https://blackalliance.org/is-turbotax-free/.
(5) Is there a Freedom Edition for 2019? I have filed under the Turbotax …. https://ttlc.intuit.com/community/taxes/discussion/is-there-a-freedom-edition-for-2019-i-have-filed-under-the-turbotax-freedom-edition-for-several/00/150491.

Turbo Tax Advice New Filers Can Use From Intuit

Turbo Tax Advice

When I filed my taxes for the first time, I didn’t have Turbotax or any other program to help me out, no Turbo Tax Advice. It was a very intimidating and scary process for me and I was constantly worried about messing up and having to pay a penalty to IRS. Filing for taxes is an easy job if you are aware of what you need to do. The following are some of the tips and 2015 Tax Advice that you can use as a first time tax filer:

The first thing that you need to do is to organize all your files and documents. Have all these stored in one place, be it the forms, the receipts or other kinds of relevant documentation. By doing this you will be able to save a lot of time and also make the whole process more easy and convenient. Next, you should also check whether you qualify to file for free or not. If you have a W-2 along with very little bank interest then you would qualify.

Also, do not forget about filing for your state taxes with TurboTax 2015. When you have a tax filing program like TurboTax, you would be able to file for state taxes and federal taxes easily because all your information can be transferred automatically. Another top tip to keep in mind would be to file online using Turbo Tax Advice instead of doing the process manually because the latter is a time consuming process and the scope for errors is also higher.

TurboTax Responds Well To Issues

We are currently in the midst of the tax season, and many tax filers already received their refunds. These individuals should feel happy and lucky because there is an issue currently afflicting the tax industry. Based on recent reports from the TheBestCompanys.com, some individuals are not receiving the refunds they were expecting. Apparently, identity thieves found a way to claim and steal from these unsuspecting individuals. Try using TurboTax 2015 next year.

Since the start of the year, internet fraud on the Turbotax 2015 free platform increased by approximately 37%. This percentage includes suspicious filers and filers who had their information compromised by hackers. TurboTax 2013 creators were not aware of this glitch for quite some time. When they discovered the issue, they started making changes to their interface, and now these issues are becoming less frequent.

The chief tax officer of Intuit, David Williams, believes internet fraud will be an ongoing problem. If they correct one problem, he expects a similar problem to pop up somewhere else. Intuit plans to do their part by placing safeguards and deterrents in vulnerable spots within the interface. Make sure to keep your data safe by updating the software often and working in a secure environment.

TurboTax 2015
Photo by CustomUSB.com

This will help out the tax filer tremendously, but the tax filer needs to do their part as well. Intuit encourages tax filers to guard their information when they are filing a tax return. This will put another barrier in front of any hackers and thieves. Use a firewall on your personal computer, run virus scans, and do not use public wifi services that are not secure. Thinking about doing your taxes from a hotel room, wait to get home as hotel wifi signals are not secure.

Maximize Your Refund With TurboTax

If you are using TurboTax 2015 to Maximize Your Refund while filing, the software can save you a lot of time by transferring last year’s information into the current year, explains Frank Ellis, a tax specialist.

In an article in the Traverse City based Tax Preparation Examiner, Ellis explains in detail how users can simply use last year’s information and then submit their return to the IRS with the up to date information.

Users are also able to use TurboTax 2015 to get the largest possible refund, and Ellis tells you how to do this by explaining how to access many of last year’s details and entries that have been saved on your computer.

This saves time as you do not need to retype much of your information, and also ensures more accuracy. The convenience of TurboTax 2015 doesn’t stop there; the software also allows you to transfer important and relevant information from other files.

Maximize Your Refund
Photo by JeepersMedia

The fact that TurboTax 2015 looks for important documents and enters financial details automatically is one of the biggest appeals for most users filing their 2014 taxes. The software is designed to make the filing process as easy as possible, and to maximize the refund amount.

Ellis also points out the security and safety of the software – two things important to anyone dealing with personal financial information. Also pointed out are those all important little known deductions and credits, the many innovative tools of TurboTax 2015, and any important deadlines for filing.

Using a tax refund calculator is highly recommended during the entire process, to give users a fairly accurate idea of how much refund to expect. The entire tax filing process is easier and goes much more smoothly when you are able to make any necessary adjustments, based on your estimates of any tax refund.

Many users like to have some idea of their refund amount during the filing process, and the tax refund calculator allows you to be informed every step of the way. You can prepare more efficiently for the financial year when you are able to estimate the amount of your tax refund in advance.