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Deductions & credits
"Simple" return means a return that requires only a Form 1040 and none of the extra schedules.
*A simple tax return is Form 1040 only.
Situations covered in TurboTax Free Edition include:
- W-2 income
- 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
- Student Loan Interest deduction
Situations not covered in TurboTax Free Edition include:
- 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 schedules 1-3
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎February 11, 2022
6:40 AM