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Level 1
posted Feb 2, 2024 4:57:03 PM

You have Interest and/or Dividends on a Schedule B

Is it my understanding that because there is a Schedule B involved? Though it is just simple, I would need to upgrade or else mail it? Thanks Bruce

0 2 850
2 Replies
Level 15
Feb 2, 2024 5:05:29 PM

If you are trying to use the Free Edition--- a "simple" return includes entering interest or dividends of no more than $1500.   If it is more you have to upgrade to Deluxe.  Filing by mail does not lower the cost.

 

You can file with TurboTax Free Edition if you have a simple tax return.*

*A simple tax return is Form 1040 only.

Situations covered in TurboTax Free Edition include:

  • 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:

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

Level 1
Feb 6, 2024 11:26:12 AM

Thanks, I was pretty sure thought I would double check