1099-Misc income earned by a dependent

[cllnine]

My 15 year old dependent son will earn ~$900 this summer (2024), and be issued a 1099-Misc.  Aside from $10 or so in interest, this will be his only income.   Assuming pricing is the same, what will TurboTax charge for a Federal and State Return, for a dependent under this scenario?   (He will not be claiming any expenses.)

[VolvoGirl · Accepted solution]

Since he has to file the 1099Misc as self employment income he will need to use Online Deluxe for income only or Premium to enter expenses.  Or any of the Desktop programs.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

So you may want to consider using the Desktop program next year.  It can do unlimited returns and efile 5 federal for free.  You can efile state for $25 or print and mail state for free.

[cllnine]

Thank you for the response.   I've been using the on-line version (for my own return) for about 7 years.   If I buy the "disk" and load up to my desktop, will all of my relevant 2023 data from my on-line account, feed into what will be my 2024 return?

Also, let's ignore the fact that I'll need to prepare a dependent return for a moment.   What are the general differences between the on-line version and the desktop version?

[xmasbaby0]

Or—-Use this IRS site for other ways to file for free.  There are 8  free software versions available from the IRS Free File site

https://apps.irs.gov/app/freeFile/

Or—if you live in certain states you may be eligible to use the new IRS Direct File

( AZ, CA, FL, MA, NH, NV, NY, SD, TN, TX, WA, WY )

https://directfile.irs.gov/

[VolvoGirl]

Yes you can transfer  from the Online version into the Desktop program.  So before Online closes in Oct you need to download the .tax2023 data file from your account to have it to Transfer.  Save the tax file
https://ttlc.intuit.com/community/saving/help/how-do-i-save-my-turbotax-online-return-as-a-tax-data-...

The CD/Download Desktop you buy and install the program, which can do unlimited returns. The returns are only saved on your computer and can not be accessed from anywhere else. And not saved at Turbo Tax. So Be sure to save Frequently and make backups. You get 5 federal efile for free. In Deluxe and above you get 1 state PROGRAM download to prepare unlimited state returns (in that state). Each state return including the first one is $20 early or $25 to efile or you can print and mail the state for free. The Desktop programs do not have the expert help that is available to add to Online versions.

Desktop also has many other features and advantages over the Online version. You can do more than 1 return. You can see and enter into the actual forms. It has a What-If worksheet. And you can use a lower version because all the Desktop versions have ALL the same forms. You just get more help in the higher versions. In online you have to upgrade to enter certain kinds of income. Like Premium for investments and self employment.

And the Desktop program is always available even after the year ends. Which is good if you ever need to amend your return after online website is closed or get audited and need your tax records.  Online only keeps your returns for 7 years. 

ONLINE VERSION

The Online web version is only good for one account and one return. You can log in and access your return from any computer. You only can see the forms after you pay and download the pdf. And you might need to upgrade to a higher version to enter different kinds of income. And you can add LIVE service or Full Service for expert help. In Online the fees are to prepare the federal and state returns (State is a separate charge) whether you efile or print and mail. Efiling is free and included.  Online only keeps your returns for 7 years.