Turbotax Free edition

[tonybeo]

I am using the TurboTax free edition due to my low income.  I have 2 K-1's that I need to enter...they do not produce much income. If I answer all the questions as required to enter the K-1's, will the filing still be free at the end when I attempt to file the return? I ask since the K-1's require more forms than typical.

Thanks in advance for help with this.

[SweetieJean]

TT Free does not include K-1 forms, nor does  IRS Free File Program delivered by TurboTax (intuit.com)

Edited 4/13/2021:  TT Free does not include K-1 forms.   However the IRS Free File program delivered by TurboTax (intuit.com) does.  The latter used to be called Tax Freedom.

[tonybeo]

I have already entered one of the K-1's and did a federal review and all looked good and it said that the return was prepared for free.  Does that mean that it will charge me later when I actually file the return?

Thanks. 

[Irene2805]

Are you sure you are still in the Free edition of TurboTax?  Look in the black bar on the left of your screen. You should see the version below the TurboTax logo.  [See Screenshot #1, below.]

In the K-1 section of TurboTax, on the screen Did you receive any Schedules K-1?  after you click the Yes box you should see a screen that you need to update to TurboTax Premier.  [Screenshot #2]

1. Click on Federal > Wages & Income
2. Under S-corps, Partnerships, and Trusts, click on the box next to Schedule K-1. 
3. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity (partnership, S-corporation, or trust/estate) that issued the K-1.     
4. If you have already entered K-1 information, you will see a Summary screen.  Click Add Another K-1 to enter your information  (or click on Edit to continue with the existing form entry).    
5. If you haven't started entering K-1 information, continue through the screens, entering the requested information.

Screenshot #1

Screenshot #2

[tonybeo]

In top left of black bar it says: TurboTax IRS Free File Program delivered by TurboTax.  When it asked about K-1's, it never said that I had to upgrade to premier version.

[VolvoGirl · Accepted solution]

There are 2 different Free versions.  Turbo Tax Free Edition and the IRS Free File website.  You are in the IRS Free File website.  It has more forms than the Federal Free Edition, like Schedules A, B, C , D, E, F, EIC, H, K-1, SE,  etc.  So you are ok and it will be free.

To qualify for the Free File website  you just need to meet one of these 3 things.

AGI $39,000 or less.

Active duty military with AGI of $72,000 or less

OR qualify for EIC (earned income credit.)

[DawnC]

If you are in the Free-File program, there are no upgrade options.   You either qualify to use it or you don't.  And if you do qualify - it will be FREE.

[SweetieJean]

@tonybeo  My statement was incorrect.  The IRS Free File through TT does include K-1.  My sincere apologies.