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Retirement tax questions
Because your children need to include a schedule C for their self-employment income and IRA contribution, you will need to upgrade to at least Turbotax Deluxe and pay probably over $100 per tax return if filing online.
You will want to prepare their returns using the IRS FreeFile version of Turbotax. This is truly free for taxpayers with less than $36K of income and includes complicated forms that are not included in the regular "free" online version. It's a separate web site from the regular online program.
You will need to make a separate account with different user name and password for each tax return you need to file (they can be linked to the same email address).
July 3, 2020
1:09 PM