Simple tax returns: If you have a simple tax return, you can file with TurboTax Free Edition, TurboTax Live Assisted Basic, or TurboTax Live Full Service Basic. A simple tax return is one that's filed using IRS Form 1040 only, without having to attach any forms or schedules. Only certain taxpayers are eligible.
Situations covered (assuming no added tax complexity):
- W-2 income
- Limited interest and dividend income reported on a 1099-INT or 1099-DIV
- Hobby, personal property rental or personal item sales income reported on Form 1099-K
- IRS standard deduction
- Earned Income Tax Credit (EIC)
- Child tax credits
- Student loan interest deduction
Situations not covered:
- Itemized deductions
- Unemployment income reported on a 1099-G
- Business or 1099-NEC income
- Stock sales
- Rental property income
- Credits, deductions and income reported on other forms or schedules (for example, income related to crypto investments)
