I bot Home & Bus Version. What is cheapest way for me to file fed & st for 2 kids in college and work, w/int & divs, but no stock sales or home ownrshp + me Fed & St?

[SteamTrain · Accepted solution]

H&B installs on your home computer.

As long as the state each of you needs, is exactly the same one, it will cost another $20 (or $25) to e-file each state (the Federal e-file is free....for up-to 5 e-files).  But if they go to college AND work in another state, then you'll have to buy an extra software set for that 'other" state......if that state has an income tax.

IF you want cheaper, you e-file just the Federal tax return, and Print/Mail-file each state tax return.

[lmcerra]

Thank you! Could I file online free file fed & state for each child and use the business version only for myself? Would this cost less in filing fees? I usually prepare state and then type directly into the state online filing system to avoid fees, but that is tedious.

[SteamTrain]

In a way.......if you don't do it the same as you used to, you would need to prepare and file both Fed and state for each child with online software.  There is no separate state-only software.

.....there is now a state charge with the TTX "Free" version  (Starting 1 March), so that is out.......but presumably you could use the "Freedom" edition for each child  (the "Free" edition is not "Freedom" edition.   Please keep these two closely named editions separate in your mind.)

Do NOT file their tax returns before you file your own (mostly to avoid filing errors that could impact you).  Each child would require a separate "Freedom" UserID and password, so write down each one in case you have to get in later...you WILL forget what UserID and login you used for each.  (Sit down with each child and work thru it with them, it is critical that they learn how to do this now).

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