If you’re reading this article, then you might already know about TurboTax and their services. You just want to know how much does TurboTax cost.
There are three main ways to prepare and file your taxes with TurboTax. They have a do-it-yourself online package, a downloadable computer software, or TurboTax Live.
Each of these comes with a different price tag. The prices differ and are determined based on which tax forms you need, and how much help you need.
Here’s a breakdown of an estimate for how much each will cost you.
Source: Business Insider
|DIY online filing||DIY + expert access||Full-service expert||Computer software|
|Federal return cost||$0 – $120||$50 – $200||$130 – $290||$50 – $120|
|State return cost||$0 – $50||$0 – $55||$45 – $55||$45|
|Federal + state||$0 – $170||$50 – $255||$130 – $345||$95 – $165|
The TurboTax website offers a quick quiz you can take that will help you determine what kind of help you need, and what service options you may need to avail.
Naturally, the do-it-yourself options are the cheapest because you can fill out every form yourself. There’s a free version, but if you don’t qualify for that package, the different price points are either $60, $9, or $120.
It may also cost you more if you have small business expenses that may qualify for deductions. There may also be additional costs if you have investment income on cryptocurrency, stocks, or bonds. Lastly, you may also pay more for TurboTax’s services if you have any rental income and expenses that may qualify for deductions.
What Does TurboTax Do?
Almost everyone in the United States knows about this software. It is the most well-known tax software provider in the country.
What does TurboTax do? Well, it is online software that provides you with certain conveniences for preparing and filing your tax return forms online. You can use their services virtually on practically any computer or mobile device as long as you have Internet access.
The best thing is that you don’t necessarily need to install any software on your computer, and save anything. All the data is stored safely and securely on their secured servers.
The company provides taxpayers endless options when it comes to preparing for their income tax return, and getting the most out of tax refunds, if there are any.
This convenient service is not always free however. While they do have some free options in their pricing plans, added features will cost you money.
TurboTax also offers guarantees that may put you at ease. They offer a 100% Accurate Calculations Guarantee, Maximum Refund Guarantee or Your Money Back, 100% Accurate, Expert Approved Guarantee, Audit Support Guarantee and lastly, TurboTax Online Free Edition Guarantee.
With the Audit Support Guarantee, you are entitled to the following free services:
- One-on-one audit guidance from an experienced tax professional
- Answers to your audit questions, year‑round
- Assistance on what to expect and how to prepare