I attempted to use the "Free" version of TurboTax to file a return for my 17-year-old son. But the TurboTax website would not allow that and asked me to upgrade with this guidance:
We were able to use the "Free" version when I filed his taxes last year when he was 16 and had $187 of ordinary dividends on his 1099-DIV. He has $318 of ordinary dividends this year. Does "Limited" in the statement above mean "more than $300"?
Thanks...
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The first thing says he has Capital Gains on the 1099DIV. That is not dividends but is in addition to any dividends.
We were able to use the "Free" version last year when my son's 1099-DIV showed:
Total Ordinary Dividends ($187)
Qualified Dividends ($135)
Total Capital Gains Distributions ($353)
His 1099-DIV this year has very similar amounts:
Total Ordinary Dividends ($318)
Qualified Dividends ($302)
Total Capital Gains Distributions ($171)
These amounts are nominal so I am trying to determine why we are not able to use the "Free" version this year. The full guidance on the website says:
What qualifies as a simple tax return?
I don't know anything about taxes. but my 13 year old son has about 6 dollars in capital gains on his 1099-div for UTMA and it triggers the 59 dollar charge.. That really sucks!
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