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TurboTax Premier free on Fidelity

This morning on Fidelity, TurboTax Premier was available for the online or download version.

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Contributor ○

Re: TurboTax Premier free on Fidelity

Isn't it always? Have they changed the restrictions on who is eligible for free?

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Participant ○○○

Re: TurboTax Premier free on Fidelity

It was available for me as well.  Note: this may only be available based on your account at Fidelity.  Hopefully, they have expanded access, but I don't know the facts other than so-called Private Client Group members will most likely have access. 

Within Fidelity just go to the Summary Tab then in the lower right corner of the page was a small promo for the free TurboTax with a link "Get Started Now".  Clinking on the link may fail and has failed for some users this year (and last).  It worked for me the very first time. 

Avoid the nonsense at the top and go to the bottom and find the link for the downloadable version. They still make you go through some hoops for signing in and such, but eventually, the download will start.  Using the supplied license code is a must. 

ctyankee 

 

 

 

 

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Contributor ○

Re: TurboTax Premier free on Fidelity

For me the tax software shown on the summary page was on the left side around the middle of the page. It only offers up to a $20 discount. I searched Fids site for "Free TurboTax" and it led me to a page where I found the below as a criteria for being able to have it for free. That was the minimum. VIP was the other possibility for getting it for free.

 

Qualifications

Active Trader Services

Trades: 120+ stock, bond, or option trades in a 12-month period 
Portfolio Value: $25,000 or greater across your Fidelity accounts

 

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Explorer ○○

Re: TurboTax Premier free on Fidelity

It seems you must be a Active Trader or have Private Client status . See the Active Trader page which appears to be the only places on the Fidelity website that states TurboTax is free.

After clicking the link for TurboTax, click the Products and Pricing tab, then click the  CD/ Download tab. The price for the Premier Download should be $0.

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Participant ○○

Re: TurboTax Premier free on Fidelity

Got the Turbotax offer. I have private client status, with the bulk of my money in tax deferred.  I have always used the CD/download version. I believe TT no longer has Windows 7 support. Whether that means it works or not, I dunno. I upgraded to Windows 10 last Fall,  also a free upgrade  from Microsoft for a valid copy of Windows 7.

New this year is that the download version requires a license code.  Provided before the download. It is valid for up to 5 computers. Woohoo.

Also did not see the broken link to Intuit like I did last year where I had to refresh the browser a couple of times.

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Participant ○○

Re: TurboTax Premier free on Fidelity

They also allowed me to download the Apple (MacIntosh) version. ALso has its own code.

 

 

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Frequent Contributor

Re: TurboTax Premier free on Fidelity

TaxHawk (and many similar) online product is free. It took less than 2 hours to enter the data manually including 1099-B, 1099-D, schedule E, etc. (I have some 75 transactions on 8949) using copy and paste from Google sheets. When I get the copies from the brokerages, I will verify and change a few numbers (if necessary).  They have every form in there. It is free also.

If you have the data in quicken, it is also easy to bring the data into Goggle sheets and use copy/paste. This is also free but I have an old 2017 quicken. It works though. So, I am not excited about this offer because I am not going to trade 120 times/year.

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Re: TurboTax Premier free on Fidelity

It's not about being free for me. I would buy Turbotax otherwise, and have for most of the past 22-24 years except for these last two when I got it for free.A couple of other years, I probably got a free copy from someone else.  When my taxes were complex, it supported my K1's, carried over depreciation on my rentals and MLP's, handled their sales, and tracked my carryover losses from 2008 for a year.. It's a good product in my opinion, and when I look back and see I spent about 1000 bucks on it, I don't mind at all.

Now that my taxes are pretty simple, I could easily switch. Just don't care to do so.

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Frequent Contributor

Re: TurboTax Premier free on Fidelity

I do not know anything about TT but I used the paid versions of TaxAct during the previous 20 years or more.

I uploaded the pdf copy of the 2017 tax return into TaxHawk, and it extracted all the essential data including my rental condo stuff, the depreciation, etc. Since they had all the data from 2018, I just entered the new data. It brought the names and other details of my Vanguard and Firstrade brokerages also. This was the same process when I used the paid versions of TaxAct in the previous 20 years. In TaxAct also, I had to use the enter process. I just need to answer the same/similar questions as it was in TaxAct except I use Copy/Paste now because I have all my data in Google sheets. Now, after last year's experience, I am using the same. I just logged to my account, and all the stuff is already filled in except for the new data. So, I am not impressed by the paid versions of the tax software, TT, TaxAct, etc.

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Re: TurboTax Premier free on Fidelity


@ECEPROF wrote:

TaxHawk (and many similar) online product is free. It took less than 2 hours to enter the data manually including 1099-B, 1099-D, schedule E, etc. (I have some 75 transactions on 8949) using copy and paste from Google sheets. When I get the copies from the brokerages, I will verify and change a few numbers (if necessary).  They have every form in there. It is free also.

If you have the data in quicken, it is also easy to bring the data into Goggle sheets and use copy/paste. This is also free but I have an old 2017 quicken. It works though. So, I am not excited about this offer because I am not going to trade 120 times/year.


@ECEPROF 

The O.P. posted this in the Fidelity Investments Sub-Forum, because it provides a benefit only to Fidelity customers. 

It wasn't meant to be a general ... 'what tax software should I use?' thread.  

Additionally, my sister qualified for this and she probably has 3 trades a year.  But, the size of her portfolio at Fidelity allowed her to qualify.

Like DoctorWu mentioned, for those with significant tax issues, it's not just important to record a Schedule E, or other Schedules, but to carry forward some expenses for potentially many years.  Free versions of software might have a Schedule E, but it would be up to the user to fill it in correctly and to carry forward expenses properly.  This means that someone would need to have a spreadsheet or the like to keep track of this and update manually.  No thank you.  

ctyankee

 

 

 

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Contributor ○

Re: TurboTax Premier free on Fidelity

Not all Private client group members seem to be eligible.   For me, Fidelity is offering $20 discount on TT.  I even talked to a customer service professional about it.

 

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Re: TurboTax Premier free on Fidelity


@Anitya wrote:

Not all Private client group members seem to be eligible.   For me, Fidelity is offering $20 discount on TT.  I even talked to a customer service professional about it.

 


@Anitya 

That's disappointing to hear.  What did they tell you?

ctyankee

 

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Contributor ○

Re: TurboTax Premier free on Fidelity

ctyankee, 

They just said "sorry."

It is interesting that Vangaurd does not offer free TT even for its flagship clients - at least based on what I was able to find on their website. 

With zero commissions for stock and ETF trades, mutual fund buyers would make more money (proportionately) for the brokerages than in prior years, but mutual fund buyers do not make as many trades.  So, it will be interesting to see if Fidelity would continue to offer free TT based on volume of trades.

A

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Frequent Contributor

Re: TurboTax Premier free on Fidelity

They just said "sorry."

TaxHawk is free. Even though I may not have to enter all the 82 trades (some split for wash sales shares) individually, I have already figured out all of my 1099-B details from the websites of the brokerages and entered all of them in about two hours using "copy and paste" from Google sheets. It took me two additional hours to download and prepare the data required for 8949. The rest of them are easy - a few entries - actually - six entries. The 1099-SSA and 1099-R already came, and those 6 entries are also done. So, I am done except that I have to check all of the numbers again when I get 1099-D and 1099-B again and make some suitable corrections to match the actual 1099's.

There is also another one called "FreeTaxUSA." Both are identical.

 

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Contributor ○

Re: TurboTax Premier free on Fidelity

I started the process with Turbotax Free, but am waiting for all my 1099s to be ready from Fid for importing. I have read that the free version will do pretty much everything, but starts adding costs for things over and above the basics. Does anyone here know if this is true, and if it is true, will the add ons come to more than buying the higher priced versions? 

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Re: TurboTax Premier free on Fidelity


@archer wrote:

I started the process with Turbotax Free, but am waiting for all my 1099s to be ready from Fid for importing. I have read that the free version will do pretty much everything, but starts adding costs for things over and above the basics. Does anyone here know if this is true, and if it is true, will the add ons come to more than buying the higher priced versions? 


@archer 

I don't believe the free version will import 1099 B for free, so that's a start.  While dated, this will probably help you understand some of the differences.  You also didn't make it clear what additional things you needed.    

https://ttlc.intuit.com/community/choosing-a-product/help/turbotax-online-product-guide/00/25645

Note:  I don't think the free version will handle 1099-MISC either.  Note, if your state has income taxes, that's another thing the free version is not going to do for you.  

I think TurboTax Deluxe (with one free state program) is $29.99 at Costco.  That would seem pretty much of a no-brainer if you like TurboTax and have used TurboTax in the past.  

ctyankee

 

 

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Re: TurboTax Premier free on Fidelity


@ctyankee wrote:

@archer wrote:

I started the process with Turbotax Free, but am waiting for all my 1099s to be ready from Fid for importing. I have read that the free version will do pretty much everything, but starts adding costs for things over and above the basics. Does anyone here know if this is true, and if it is true, will the add ons come to more than buying the higher priced versions? 


@archer 

I don't believe the free version will import 1099 B for free, so that's a start.  While dated, this will probably help you understand some of the differences.  You also didn't make it clear what additional things you needed.    

https://ttlc.intuit.com/community/choosing-a-product/help/turbotax-online-product-guide/00/25645

Note:  I don't think the free version will handle 1099-MISC either.  Note, if your state has income taxes, that's another thing the free version is not going to do for you.  

I think TurboTax Deluxe (with one free state program) is $29.99 at Costco.  That would seem pretty much of a no-brainer if you like TurboTax and have used TurboTax in the past.  

ctyankee

 

 


A little ways into Turbotax Free it lets you specify which financial institutions you want to download from. I have read that it will do things like that but at some point you will have to pay. My guess is that they wait until the end and then after you have the time invested in doing the return you have to pay in order to proceed. There have been complaints about these tactics. So back to my question, do you end up paying more for ala carte than just buying a higher version, or do they just switch you to the higher version when you exceed the free services? 

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Re: TurboTax Premier free on Fidelity


@archer wrote:

@ctyankee wrote:

@archer wrote:

I started the process with Turbotax Free, but am waiting for all my 1099s to be ready from Fid for importing. I have read that the free version will do pretty much everything, but starts adding costs for things over and above the basics. Does anyone here know if this is true, and if it is true, will the add ons come to more than buying the higher priced versions? 


@archer 

I don't believe the free version will import 1099 B for free, so that's a start.  While dated, this will probably help you understand some of the differences.  You also didn't make it clear what additional things you needed.    

https://ttlc.intuit.com/community/choosing-a-product/help/turbotax-online-product-guide/00/25645

Note:  I don't think the free version will handle 1099-MISC either.  Note, if your state has income taxes, that's another thing the free version is not going to do for you.  

I think TurboTax Deluxe (with one free state program) is $29.99 at Costco.  That would seem pretty much of a no-brainer if you like TurboTax and have used TurboTax in the past.  

ctyankee

 

 


A little ways into Turbotax Free it lets you specify which financial institutions you want to download from. I have read that it will do things like that but at some point you will have to pay. My guess is that they wait until the end and then after you have the time invested in doing the return you have to pay in order to proceed. There have been complaints about these tactics. So back to my question, do you end up paying more for ala carte than just buying a higher version, or do they just switch you to the higher version when you exceed the free services? 


@archer 

This might help ... including the knowledge that you aren't using the true free TurboTax version from the get-go.  However, looking at some of the upcharges should help answer your question.

https://www.propublica.org/article/turbotax-just-tricked-you-into-paying-to-file-your-taxes

ctyankee

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Re: TurboTax Premier free on Fidelity



@archer 

This might help ... including the knowledge that you aren't using the true free TurboTax version from the get-go.  However, looking at some of the upcharges should help answer your question.

https://www.propublica.org/article/turbotax-just-tricked-you-into-paying-to-file-your-taxes

ctyankee


I know this one. So, I ordered the 2018 version of TaxAct after filing the 2017 return in March of 2018 because I have been using the TaxAct from the days of free except for the filing charges. It kept going up and up and tolerated for many years of increasing the price from $7 to $30+. Then, last year, I ended up paying $35 because I have already ordered and did not back up because they have already charged my credit card.  So, I looked up for the free alternative because the "free version" was talked about in the congress. Propublica has described this story how Turbo Tax has been hiding the free file version. I found TaxHawk and wanted to see how it works. I found that I had to upload the pdf version of 2017 tax return. It extracted most of data except for the new numbers. Even though I was ready to pay $5, I did not need to pay and filed for free. It worked with no problem.

So, essentially, all these guys trick you and then charge you later. TaxAct wanted me to file 2018 return for while because it was in my system. Finally, I uninstalled it some time in May 2019 so that I can get rid of the e-mail notifications. I am sure that my TaxAct account still exists but I am not going back there.

By the way, Quicken was sold in the market, You can pick up any new version in any store, such as Walmart. But, TuboTax bought Quicken and made it solely downloadable online version. TurboTax changed the business model for selling Quicken. It will work only for the period that you have paid. You end up paying up every year, not one time payment every few years. So, I am still using my desktop copy of 2017 version in spite of reminders every month or so during boot up of my Quicken.

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