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April 13, 2021
Question

I know that I will not be receiving a refund, but will instead be making payments to the IRS and state. I just want the 0 refund 0 pay plan, ok?

  • April 13, 2021
  • 1 reply
  • 0 views
Just let me know.

1 reply

April 13, 2021

Generally, you pay for the TurboTax version based on the forms and schedules that are required for your tax situation not whether you get a $0 refund. You have to qualify for the TurboTax Free Edition or the IRS Free File Program delivered by TurboTax.

 

The IRS Free File Program delivered by TurboTax is geared towards lower-income filers, regardless of tax return complexity, and is only offered through the IRS Free File Alliance (FFA) program. No upgrades are available.

 

 

If you don't qualify for the IRS Free File Program delivered by TurboTax , start with the Free Edition. If your tax situation requires and upgrade, TurboTax will let you know.

 

The TurboTax Free Edition can be used by higher-income filers but only handles simple returns with no additional schedules.  Upgrades and add-ons, such as TurboTax PLUS and Audit Defense, are available.

  

Simple tax situations covered in TurboTax Free Edition:

  • W-2 income,
  • Unemployment income. If your taxable income (including your unemployment income plus any other sources of income) exceeds the filing thresholds for federal (and most states') returns, at least some of your unemployment income can be taxed. 
  • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
  • Claiming the standard deduction
  • Earned Income Tax Credit (EIC)
  • Child tax credits. To qualify for the Child Tax Credit, your child must fit all of the requirements. Click here for the requirements. 

Situations not covered in TurboTax Free Edition include:

  • Itemized deductions
  • Business or 1099-MISC income
  • Stock sales
  • Rental property income
  • Credits, deductions, and income reported on schedules 1–3, such as the Student Loan Interest Deduction

 

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