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New Member
posted Mar 15, 2024 10:13:01 AM

Can you tell me how much it will cost me to use TurboTax with a 1099-R form?

Can anyone tell me how much it will cost for me to file my taxes with a 1099-R form

0 2 3330
2 Replies
Level 15
Mar 15, 2024 10:16:59 AM

You can enter a 1099R into all versions even the Free Edition.   So start with Free and it will make you upgrade if you need to.  

Level 15
Mar 15, 2024 10:19:34 AM

The TurboTax Free online edition supports Form 1099-R.  Provided there is not a 10% early distribution penalty.  If there is a penalty to be assessed then the Deluxe online edition would be required.  The Deluxe online edition is currently $59.

 

Go to this TurboTax website for the Free online edition - https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp

 

Please Note -

TurboTax Online: Important Details about Filing Form 1040 Returns with Limited Credits

A Form 1040 return with limited credits is one that's filed using IRS Form 1040 only (with the exception of the specific covered situations described below). Roughly 37% of taxpayers are eligible.

If you have a Form 1040 return and are claiming limited credits only, you can file for free yourself with TurboTax Free Edition or TurboTax Live Assisted Basic (if available), or you can file with TurboTax Full Service at the listed price.

Situations covered (assuming no added tax complexity):

  • W-2 income
  • Interest or dividends (1099-INT/1099-DIV) that don’t require filing a Schedule B
  • IRS standard deduction
  • Earned Income Tax Credit (EITC)
  • Child Tax Credit (CTC)
  • Student loan interest deduction

Situations not covered:

  • Itemized deductions claimed on Schedule A
  • Unemployment income reported on a 1099-G
  • Business or 1099-NEC income
  • Stock sales (including crypto investments)
  • Rental property income
  • Credits, deductions and income reported on other forms or schedules