TurboTax is again offering the Freedom Edition for 2014 (for completing your 2013 tax return) for both active military families and low income earners. If you or your spouse were in active military duty sometime is 2013 and were classified as an E-1, E-2, E-3, E-4, or E-5 officer with an Adjusted Gross Income (AGI) of $57,000 or less, then you can take advantage of this deal. Not only is the Federal return free, but most State returns are included as well (but this will vary by the State that you live and file your taxes in). For military officers levels E-6 to E-10 then your Federal tax return is available at a discounted rate of $24.99. You can can also use the Freedom Edition if you made less than $31,000 or if you qualified for the Earned Income Credit (EIC) in 2013. Best of all, you still receive the same maximum refund and accuracy guarantees as you do with the paid versions of TurboTax.
How to get the TurboTax Freedom Edition?
You can start filing your taxes with the TurboTax Freedom Edition directly at Intuit.com (Intuit is the parent company of TurboTax). Unlike the regular paid editions that can be ordered in box form where you install the software on your computer, this one is only available online. You will be required to create a free TurboTax ID (if you do not have one already from previous years) and must be connected to the internet to begin filing your return. The same step-by-step instructions as found in the other versions will guide you through the process.
What if I don’t qualify for the Freedom Edition?
If you don’t meet the requirements to file your 2013 tax return for free with the Freedom Edition, then you still may qualify for the Federal Free edition from TurboTax regardless of your income level. Intuit offers a basic free edition for those individuals that have very simple tax returns to file and do not extra guidance. This is usually best for students and those that do not own their homes. Just keep in mind that even though the federal filing is free, a State return may be required depending on where you live and will cost extra (usually between $19.99 and $39.99).
Can I switch to the Freedom Edition if I used a different TurboTax version last year?
Yes you can as long as you did not already pay for and efile your 2013 tax returns with a different version of TurboTax. Also, if you’ve already stated your return, you will need to delete it and reenter your information into the Freedom Edition as the date can not be automatically transferred over. Learn more on how to switch here in the TurboTax help center.