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zi555Answer
Level 2
March 22, 2021

Thanks for your reply. However, i do need to file schedule B for the amount of int is more than $1500. So I guess from your response, the schedule B is not covered by the free edition right? 

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5 replies

LenaH
Alumni - Expert
LenaHAlumni - Expert
Alumni - Expert
March 22, 2021

Yes. TurboTax Free Edition is an online-only product that supports simple tax returns that can be filed on Form 1040 without any attached schedules.

 

Simple tax situations covered in TurboTax Free Edition:

  • W-2 income
  • Unemployment 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

Situations not covered in TurboTax Free Edition include:

  • Itemized deductions
  • Business or 1099-MISC income
  • Stock sales
  • Rental property income
  • Credits, deductions, and income reported on schedules 1–3, such as the Student Loan Interest Deduction
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zi555AuthorAnswer
Level 2
March 22, 2021

Thanks for your reply. However, i do need to file schedule B for the amount of int is more than $1500. So I guess from your response, the schedule B is not covered by the free edition right? 

EbonyA
Level 13
March 24, 2021

Please review the following FAQ that lists the editions of Turbo Tax that handles 1099-B reporting: 1099-B @zi555.

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