Here are some reasons why you might be seeing a charge and how you can downgrade to the free version:
Schedule B: The TurboTax Free Edition only supports simple tax returns (Form 1040) without additional schedules, except for Earned Income Tax Credit, Child Tax Credit, and student loan interest. Roughly 37% of taxpayers qualify. If you have additional forms or attachments, you’ll need to use a different TurboTax product.
- Since your return includes a Schedule B, which reports interest and ordinary dividends, this might have triggered the upgrade to a paid version
- Form 1099-B: If you have transactions reported on Form 1099-B (Proceeds from Broker Transactions), this form is not included in the free version
If you do not need the Schedule B: Follow these steps to downgrade to a different TurboTax Online product:
- Open your return if you haven't already.
- In the left menu, select Switch Products.
- Select Downgrade.
- You can also clear and start over to switch to a different product. This option erases your information to give you a fresh start in the new product you've chosen.
