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New Member
posted Apr 15, 2022 3:50:21 AM

Is it true that TT Deluxe, which I have to pay for, is less inclusive than TT Free File that I used last year? No Schedule C, SE tax deduction or insurance deduction?

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2 Replies
Employee Tax Expert
Apr 15, 2022 4:05:48 AM

No. 

 

TurboTax Free Edition is an online-only product that supports simple tax returns that can be filed on Form 1040 without any attached schedules.

 

Simple tax situations covered in TurboTax Free Edition:

  • W-2 income
  • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
  • Claiming the standard deduction
  • Earned Income Tax Credit (EIC)
  • Child tax credits
  • Student Loan Interest Deduction

Situations not covered in TurboTax Free Edition include:

  • Unemployment income
  • Itemized deductions
  • Business or 1099-MISC income
  • Stock sales
  • Rental property income
  • Credits, deductions, and income reported on schedules 1–3

 

TurboTax Deluxe includes the 1040 form with itemized deductions (Schedules 1–6, Schedule A and Schedule C income), along with everything in Free Edition and PLUS.

Level 15
Apr 15, 2022 4:15:49 AM

@ kathleenosullivan 

Last year TurboTax had 2 free products---regular Free Edition (a limited product) and the TurboTax IRS Free File Program (full-featured for those who qualified.)   So it depends on which one of those you are talking about.

 

By  "TT Free File" that you used last year, did you mean the TurboTax IRS Free File Program?   If so, then Online Deluxe is less powerful than that former TurboTax product that partnered with IRS Free File..    TurboTax no longer participates in the IRS Free File Program.

 

The TurboTax IRS Free File Program last year could handle all forms including Schedule C (with or without expenses), D, E, etc.

 

Online Deluxe is quite a bit more limited.   Online Deluxe can handle a Schedule C that has only income, but cannot handle a Schedule C that has expenses.  It also can't handle Schedules D, E, F, and can't enter a K-1.