I'm sorry but this isn't as simple an answer as we would all like.
First, if you qualify for the TT Free File Program (income - student loan interest <= $39k, or active military < $72k, or qualifying for the earned income tax credit -- not likely w/o kids), use that. https://freefile.intuit.com/
If not you have two choices:
- the TT Free Edition (which is NOT the same as Free File ugh). However you cannot deduct your student loan interest with that edition, so you would have to leave it off and pay more tax.
- TT Deluxe, which will let you deduct your student loan interest, but you have to pay for the software.
Ideally you would do it both ways and see if you saved more using TT deluxe than the cost of the software.
If you make < $50k, then if your student loan interest * 12% is more than the cost of TT Deluxe, buy TT Deluxe.
If you make more than that use 22% or 24% (if close to $100k) in that calculation. These are the VERY ROUGH ESTIMATED marginal tax rates for those income after the standard deduction. Of course it would be better to do it both ways to see. To do that I'd suggest making two separate accounts, one Free and one TT deluxe. I don't think you need to pay until you actually go to file. (But they will give you plenty of chances to pay earlier).
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