Turbotax is trying to scam me into $30 premium for...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
user8621846576
New Member

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

 
6 Replies
DaveF1006
Employee Tax Expert

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

If you really don't see the purpose of paying $30 to be able to claim the $6 credit, just don't report the credit.  Delete in the section where it is being reported.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Critter-3
Level 15

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

If you qualify   you can use one of  the 10 IRS FREE FILE options to file a fed & state return for free ... but you must log in thru the IRS site :

 

https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

                 

 For Filing Season 2021, you must make $72,000 or below to use one of the 10  IRS Free File partner offers.

                 

If you choose the TT option then you can log in with your same user ID and agree to switch to the FREE FILE option then your progress will be preserved.  This will only work if you qualify for the TT option which is NOT the same for other IRS FREE FILE options...

                                   

To qualify for free 2020 federal and state tax returns with the IRS Free File Program delivered by TurboTax, you'll need to meet at least one of these requirements:

 

  • A maximum 2020 adjusted gross income (AGI) of $39,000; or
  • You qualify for the Earned Income Tax Credit (EITC); or
  • You served as active duty military (including Reservists and National Guard) with a maximum 2020 AGI of $72,000 (you'll also need a military-issued W-2).
Hal_Al
Level 15

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

The foreign tax credit is usually initiated from box 7 of a 1099-DIV or box 6 of a 1099-INT.  Just leave those boxes blank at the 1099-DIV and 1099-INT screens. 

Nalanger
New Member

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

 
MayaD
Expert Alumni

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

The foreign tax credit intends to reduce the double tax burden that would otherwise arise when foreign source income is taxed by both the United States and the foreign country from which the income is derived.

When you choose to to take the credit, we'll attach Form 1116Foreign Tax Credit if your situation requires it.

 

To delete that form:

  1. In the left menu, select Tax Tools and then Tools.
  2. In the pop-up window Tool Center, choose Delete a form.
  3. Select Delete next to the form/schedule/worksheet in the list and follow the instructions.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Critter-3
Level 15

Turbotax is trying to scam me into $30 premium for a $6 foreign tax credit. How do I opt out of the credit?

If you qualify   you can use one of  the 10 IRS FREE FILE options to file a fed & state return for free ... but you must log in thru the IRS site :

 

https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

                 

 For Filing Season 2021, you must make $72,000 or below to use one of the 10  IRS Free File partner offers.

                 

If you choose the TT option then you can log in with your same user ID and agree to switch to the FREE FILE option then your progress will be preserved.  This will only work if you qualify for the TT option which is NOT the same for other IRS FREE FILE options...

                                   

To qualify for free 2020 federal and state tax returns with the IRS Free File Program delivered by TurboTax, you'll need to meet at least one of these requirements:

 

  • A maximum 2020 adjusted gross income (AGI) of $39,000; or
  • You qualify for the Earned Income Tax Credit (EITC); or
  • You served as active duty military (including Reservists and National Guard) with a maximum 2020 AGI of $72,000 (you'll also need a military-issued W-2
 
 
Dynamic AdsDynamic Ads
v
Privacy Settings