Feedback - Taxes for minor dependents

Forum|Forum|3 years ago
June 13, 2022
2 replies
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I have a suggestion: a TurboTax online membership should include tax preparation for all dependents with no extra cost.

Because of a family trust, my kids (all under 18) need to file taxes. Because of that, I only use the desktop version of TurboTax, to avoid paying separately to prepare their returns.

If I were to do all of ours using the online version (which seems better, IMO), I would need to pay for each separately. Because they receive K-1s, it’d be the most expensive version for them.

Opus 17

Level 15

Each online account can only file one return, and each online account incurs separate fees. I doubt Turbotax will decide to give $400 of free services to you because you pay for one tax return. You are one of the types of users that the Desktop program is designed form. The desktop program is generally more powerful and more capable, the only thing you don't get with the desktop program is cloud storage of your tax return.

If your children's income is less than $36,000, they can use the IRS Freefile program, which prepares even complicated returns for free, as long as the taxpayer is below the income limit. However, Turbotax no longer participates in IRS FreeFile. Turbotax online is going to charge you a separate free at the Premier level for each return with a K-1. You are much better off with the desktop program.

NCperson

Level 15

@jsb717 - so I am curious, why is Online better than Desktop? I've used Desktop for my family for over 25 years and based on the price differential for the Online version have simply stuck with Desktop.

While I appreciate your argument, I do suspect that the Online service has a higher ROI for Intuit (since each tax return is priced separately and there is no opportunity to complete multiple tax returns as there is with the Desktop). Intuit is probably motivated to move more folks to Online and continue their pricing strategy. Discounting in any way just doesn't seem logical unless they want to get to the point of eliminating the desktop product.

SweetieJean

Alumni - Champ

Online works best for those who are new to taxes. It can also be accessed from anywhere with internet service, and one does not have to worry about losing data stored on a desktop during a computer crash.

Critter-3

Level 15

The IRS has eight completely freeFile options if your AGI is 73,000 or less. To access the IRS free file service you must wait until mid January for the option to be functional and you must log into it through the IRS website. This way all those kids can still file for free without using up your 5 E files on your download a program Or paying an extra fee for each state that needs to be filed.