Tax Year Prior to 2020: If I own a home do qualify for a simple tax form? When I download the purchased software for 2018 taxes, will it step me thru filling out the forms? Thank you!

[rjs]

There is only one form for federal tax. The short forms that used to be available were eliminated last year. All federal tax returns are now filed on Form 1040.

The TurboTax software asks you questions and fills out the forms for you, using the information that you enter. You do not have to fill out the forms yourself.

[JulieC14]

As noted above, there is only one 1040 form now.  In 2018, the 1040A and 1040EZ forms were discontinued.  Therefore, TurboTax versions now relate to whether you have information that is required to be reported on supplemental schedules (Schedules 1 through 6).  

For owning a home, if you have mortgage interest, points and real estate taxes, these are only deductible on your return if you are going to itemize deductions.  In order to itemize, your itemized deductions need to total more than the standard deduction which is $12,200 single, $18,350 head of household and $24,400 joint (with increases for over 65 and blind).  

See more information on which TurboTax version will be right for your tax scenario here:  Turbo Tax Online Products Information

[Critter]

Don't be confused by the similarly sounding  FREE program thru Turbotax  and the  FREE FILE  program available  thru the IRS  ...

There are several TurboTax editions when using the online web based programs - Free, Plus, Deluxe, Premier and Self-Employed.  Only the Free edition is free for both federal and state tax returns.  However, the Free edition is only good for very simple tax returns.  If the user enters tax data that is not supported by the Free online editions then one of the paid editions must be used.

TurboTax also is part of the Free File Alliance and provides the Freedom Edition for eligible taxpayers.  The Freedom Edition usually becomes available in mid-January of the tax year.

These were the requirements for the tax year 2018 Freedom Edition - 2019 requirements are not out yet but they will be close ...

IRS Free File Program - https://apps.irs.gov/app/freeFile/

If you are eligible you can use the TurboTax Free File Program which is free to file both a federal and state tax return. The Free File Program edition is a full featured personal tax program and on a separate website from the TurboTax online editions.

To qualify for free 2018 federal and state tax returns with the Free File Program, you'll need to meet at least one of these requirements:

• A maximum 2018 adjusted gross income (AGI) of $34,000; or
• You qualify for the Earned Income Tax Credit (EITC); or
• You served as active duty military (including Reservists and National Guard) with a maximum 2018 AGI of $66,000 (you'll also need a military-issued W-2).

See this TurboTax support FAQ on the Free File Program - https://ttlc.intuit.com/questions/1900583-what-is-the-turbotax-free-file-program

See this TurboTax support FAQ for the difference between the Free File Progam and the Free edition - https://ttlc.intuit.com/questions/2572617-what-s-the-difference-between-free-file-program-and-free-e...

And see this TurboTax support FAQ on how to switch to the TurboTax Free File Program - https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-free-file-program

[mbowen148]

Thank you for your help, I appreciate it. To be clear, I won't be able to deduct my mortgage interest unless it exceeds the dollar amount shown in your reply? 

[VolvoGirl]

The mortgage interest doesn't have to be more than the Standard Deduction amounts - just all your Itemized deductions need to be more.  That can include property tax, state withholding and state income taxes paid, charity donations and Medical (over 10% of your AGI). 

For 2019 the standard deduction amounts are:

Single 12,200 + 1,650 for 65 and over or blind

HOH 18,350 + 1,650 for 65 and over or blind

Joint 24,400+ 1,300 for each 65 and over or blind

Married filing Separate 12,200 + 1,300 for 65 and over or blind

[DoninGA]

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@mbowen148 wrote:

Thank you for your help, I appreciate it. To be clear, I won't be able to deduct my mortgage interest unless it exceeds the dollar amount shown in your reply? 

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Your mortgage interest plus all other itemized deductions reported on Schedule A must be greater than the Standard Deduction for your filing status to have any tax benefit on your tax return.

Standard deductions for 2019

• Single - $12,200 add $1,650 if age 65 or older
• Married Filing Separately - $12,200 add $1,300 if age 65 or older
• Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
• Head of Household - $18,350 add $1,650 if age 65 or older