The company is also investing heavily in AI to help automate filing and catch potential mistakes in real-time. The software maintains compliance with IRS security requirements and undergoes regular security audits. TurboTax implements industry-standard security protocols including 256-bit encryption for all data transmission and multi-factor authentication to prevent unauthorized access.
You can add on tax assistance for $39.99 and tax defense for $19.99. TurboTax has several versions, and in this article, you’ll learn how much it costs to prepare your taxes for Tax Year 2024 — filing in 2025. This blog has partnered with CardRatings for our coverage of credit card products. This site and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone and have not been reviewed, endorsed or approved by any of these entities. TurboTax Full Service offers various levels of pricing based on your unique tax situation.
Social and customer reviews
- TurboTax software can be downloaded directly from the TurboTax website, or purchased from popular retailers like Costco and Best Buy, both online and in-store.
- Navigation between different tax sections is seamless, with a convenient sidebar menu that allows quick access to previously completed sections.
- While it excels in user experience and has strong security measures, the aggressive upselling tactics and limited features in the free version make it difficult to recommend for budget-conscious filers.
Although TurboTax’s Lifetime Guarantee does promise audit support for the full seven-year life of your tax return, you will have to pay extra if you want an assigned Audit Representative to your case. You may want to invest instead in the TurboTax CD/download, which allows you to install the software on your computer. The cost of the Deluxe (and more) CD includes the tax preparation fee for one state and five federal e-filings. But tax filing services like TurboTax, H&R Block and TaxSlayer can help guide you through the process — sometimes for free.
This service is available to filers who earned an adjusted gross income of $84,000 or less (in 2024), and the page also links to free fillable forms for earners at all levels. But if you can apply, you could get the funds in as fast as a minute after the IRS accepts your tax return. It’s important to note you won’t get your full refund — TurboTax refunds in amounts starting at $250 in increments of $250 and then eventually by $500 from $1,000 onward.
TaxSlayer is a good budget option for people who don’t need a lot of assistance when filing their taxes and can be a great value for self-employed filers. However, the interface can be a bit clunky, and the free and lower-cost packages might not have all the features you need. TurboTax has a full-service filing option in addition to self-preparation plans, while FreeTaxUSA is entirely self-paced.
Federal and State Tax Filing
Licensed tax preparers, certified public accountants, tax attorneys, and enrolled agents are all qualified to prepare federal tax returns. TurboTax is especially well-suited for people filing simple tax returns — think W-2 income, student loan interest and a few common tax credits. While its free version works well for basic needs, paying for a higher tier can be worth it for the added support if your return is a bit more complicated. Upon enrollment, we will provide you with an enrollment confirmation that includes notification of your product selection and the card to be charged. If you renew, beginning with your second year and every renewal year thereafter, you will be notified before we charge your credit card on file for the price in effect at that time.
With this plan, you can choose to have an expert review of your return before you submit it. You’ll also get informational audit assistance and all the TurboTax guarantees. To which I say “woo hoo!” since I file my OHIO tax return through their free online system. Yes, TurboTax allows you to upload your previous tax return to save time entering your information.
TurboTax refund options
TurboTax is one of the largest tax-preparation companies in the U.S., processing 47 million tax returns and $113 billion in tax refunds in 2022. Despite being one of the most popular choices, it’s one of the priciest options out there, according to NerdWallet. TurboTax Online offers several versions tailored to different tax situations, each with its own pricing structure. TurboTax offers several features designed to simplify tax preparation and help users get the biggest possible refund. One standout feature I really like is the ability to import W-2s, 1099s and investment income reports directly from financial institutions.
Is TurboTax Premium Worth It? Who Needs Upgrade Plans?
The free package is designed for people with fairly simple tax returns. It won’t handle itemized deductions or the full Schedule 1, 2 or 3 of Form 1040, but it can handle W-2 income, basic credits like the child tax credit and the earned income credit and student loan interest deduction. TurboTax’s customer support ranges from AI-driven chatbots that answer tax or technical questions to experts who provide live, on-demand advice to tax professionals who offer full-service tax preparation. Like several online tax services, TurboTax charges extra for state returns, though there is no fee for those who qualify for $0 federal filing.
If you’re a returning user, information from the previous tax year will be preloaded into the program. You’ll be asked about life changes that occurred in the last year that might affect your tax picture, such as if you bought a new home or started freelancing. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. As a member, you get your software annually, plus exclusive benefits at no additional cost.
Examples of these types situations might include unemployment income, child care expenses, and/or significant contributions to charity. TurboTax’s Deluxe plan costs $69 plus an extra $59 for state filing, in the event that your state charges income tax. You can import tax forms directly from payroll providers, banks, and investment companies into the TurboTax system to auto-fill many of the prompts you’ll encounter when preparing your return. You can also upload your tax return from last year from your computer or phone. Within the mobile app, you can take a photo of your income documents and upload supported forms.
Carla Ayers joined Kiplinger in 2024 as the E-Commerce & Personal Finance Editor. She earned a master’s degree in Integrated Marketing Communications from Eastern Michigan University. Her professional background spans both commercial and residential real estate, enriching her writing with firsthand industry insights.
- This Albert app review dives into the various features that can help improve your finances.
- To ensure fairness and eliminate bias, our team collaborates to compare user experiences across products.
- If you receive an audit letter from the IRS, you have the ability to get one-on-one help from a tax professional at TurboTax at no extra cost.
- TurboTax Online offers several versions tailored to different tax situations, each with its own pricing structure.
- This site and CardRatings may receive a commission from card issuers.
If you plan to deduct mortgage interest, report business or freelance income, or report stock sales or income from a rental property, you’ll have to select a higher-tiered package. The list price of those paid DIY programs — the Deluxe and Premium tiers — is routinely on the higher end of the spectrum, especially when adding the cost of a state return. And if you want access to human help, you’ll need to upgrade to the Live Assisted versions, which costs even more.
Business returns
Jon Morgan is the CEO and Editor-in-Chief of Venture Smarter, a leading consulting firm that supports startups and small businesses. Navigation between different tax sections is seamless, with a convenient sidebar menu that allows quick access to previously completed sections. The interview-style question format breaks down complicated tax concepts into digestible pieces, with helpful tooltips and explanations available throughout. Keep reading Forbes Advisor for the chance to see the answer to your question in one of our upcoming stories. If you’re someone who wants turbotax advantage cost the white-glove treatment and to be sure everything is correct, then perhaps TurboTax’s Full Service is the right option for you.
