FreeTaxUSA Review 2024 and Video Walkthrough

We review FreeTaxUSA for the 2023-2024 tax season, and share why it's one of our top picks! Get started with FreeTaxUSA here: thecollegeinvestor.com/go/fre...
Read our full FreeTaxUSA review: theci.co/freetaxusa-review-2024
Chapters:
0:00 - Is FreeTaxUSA free?
1:45 - Pricing
2:37 - What's new in 2024
3:51 - Walkthrough of dashboard
6:04 - Visual of income section
9:58 - Deductions
11:30 - Finishing your taxes
12:43 - Is it worth it?

[@msmarshall854]

Thank you for this, m'Lady----this was informative, well-researched, and very helpful.

[@Ciera123004]

Am I able to file Maryland renter tax credit , if I receive housing assistance (section8)?

[@calex9398]

Thank You

[@miket2916]

Is there a form related to overpayments (I basically was paid extra but then employer took it back... but had already paid taxes on it) This one is a shot in the dark... any tips on Master Limited Partnerships and taxes?

[@akrammasood3480]

Hi great video. is it better than Cash App tax for someone who only needs to file federal taxes ? Thanks

[@Thecollegeinvestor]

Cash App is a great choice. FreeTaxUSA is more robust, but CashApp can work for most situations

[@soitsmelaura]

great review ... thanks

[@gulshanoad3891]

Is it ok for TN status holder (Canadian citizen ) ? I worked in USA for 3 month in 2023 on TN Visa and backed to Canada in August 2023. Can I use it to file my income tax via it?

[@inspiredmax-fitnessdiethea7925]

Just passing this along... FreeTaxUSA bypasses the 'syncing' to investment platforms, because users can upload a 'summary statement' (basically the PDF from their broker). That PDF is attached to their tax return and e-filed to the IRS. Someone can have hundreds of Crypto or investment transactions and they don't have to enter them one by one, instead they just upload a single file, enter some minor info, and they're done. Good review by the way, thanks!

[@miket2916]

What is the minor info that is entered? - sorry never used, and looking to go from paper filing to e-filing

[@1badsj]

I just used FreeTaxUSA for the 2nd year. It populated my info from last year which was nice. I had 3 W-2s, 3-4 1099s, a huge solar panel credit and some HSA credits. My last child graduated college so I lost him as a dependent. I own a home so I had a 1098 as well. As long as you have all of your docs, can read and type. This will get the job done. Fed was free and state was $14.99. Everybody else wanted to charge me more because my AGI is over $100K.

[@queenjohnson5097]

Did your son file taxes himself as well the year before..? I am in college as well and am trying to figure this out haha 😂 my dad filed me already as a dependent but I think I should too as well?

[@1badsj]

@@queenjohnson5097 His income was so low last year he did not owe any taxes. Him letting me claim him on my taxes saved me some. You may run into trouble if both of you claim you. The key question will be residency.

[@migration.journey]

Thank you for the valuable information and please I need to know if I can use the freetaxusa to fill out Tex returns for clients and if so how can I send the return to the client for the ensign

[@Thecollegeinvestor]

It's not designed for professional tax preparation. EAs and CPAs typically use Drake or other pro software.

[@DanDanroonie]

According to FTU you have the ability to download a .pdf of the return.

[@brachiator1]

Can you save data and come back later to finish the return? Can you print a PDF of the completed return?

[@Thecollegeinvestor]

Yes and yes (once you pay and file). In fact we recommend you always save a PDF

[@shadkhan810]

Do they mail the documents to you or email it to you with 14.99? or we have to purchase the other add-ons to get it emailed/mailed?

[@Thecollegeinvestor]

FreeTaxUSA is free for federal returns and $14.99 for each state. Your actual tax return is e-Filed for this price (free and $14.99/state). You can chose to download and print your own copy (we always recommend saving a PDF of your return when you're done). Nothing is emailed or mailed to you. It's all online.

[@jayt918]

It kept telling me if I had a 1099k we would worry about it later and then never gave me the option to enter it in ? I just spent an hour trying to find it and I still can’t.

[@DamienHope666]

Did you solve it?

[@Alewaxon]

Is there a tax software that is really good, or specialized or that you would recommend specifically for business filing? I've seen a few reviews of these services and usually the focus is personal tax filings (understandably so)... But how about if I'm the owner of a multi member LLC and I would like to do my 1060 form, my k1s and file them online, do any of these "do the job" for filing just for a business? I have a follow up, more specific question that relates to this question about filing these business forms, but adding the additional details of being a NON resident foreign owner of said LLC and one that has not effectible connected income therefor isn't actually taxed on the us... So obviously the filing is mainly a requirement and formality to report the movements of the business, but always checking all the boxes that tell the IRS that the income is foreign sourced, always filling up the numbers on the sections that make it clear that it's not effectively connected income, no US trade or business, and such... Are any of these softwares viable for these specific circumstances? That are quite simple really, given that most of everything doesn't apply (and it's even often left blank) except for total profits, maybe some expenses, not even deductions because we don't actually have to pay taxes and such... Do any of these tools, that have the ability to do business filings, allow us to make these specific choices and ask us about things like this in their "guided" way of filling up the forms? It would be sooo much better to be able to do these filings our selves ONLINE instead of having to fax or mail the forms, specially from abroad. (as a tax payer in Mexico, where everything can be done and filed easily online, it pains me a little 🤣)

[@Thecollegeinvestor]

TaxAct is your best bet this year, but even then you’re sadly in professional tax prep land for these types of things.

[@Alewaxon]

@@Thecollegeinvestor Because it wouldn't let me pick those specific things about the income not being effectively connected to a US trade or business? This is all imagining that I know what to pick and what to fill out myself, that I know how to do the form based on these needs... Do any of softwares allow you, at the end of the filing process, when you are done, to see a preview of the actual forms? And maybe edit the actual forms directly Based on the videos I've seen that has been my worry, that the handholding, question based, type of way these softwares use to fill out the forms are usually designed for more regular cases, and mostly personal as well... What I would really like it's some software that allows us to fill the forms the regular way, simply fill out the real form, and then just file it digitally for us; that would be great, is that a thing? 😂

[@dracojensei1141]

If u just sell or freelance don’t do it regularly I’ll just file freelancer u can do same stuff as if u self employed

[@endicotto]

Write a book

[@jazziez6467]

do you know why when I got to the end and had all the kids in with no changes since last year, it then said I had to verify each child when it already gave me the child credit for all of them, I was stuck not knowing what it wanted till it made me edit each child

[@Thecollegeinvestor]

The IRS keeps adding additional requirements for children to combat child tax credit fraud so you had to enter more info that LY

[@ilenmatute972]

Does the website ask if I qualify for the eitc credit ?

[@Thecollegeinvestor]

Of course every tax software does. It’s one of the most common tax credits.

[@wesleydickens9283]

FreeTax doesn't support all types of K1 reporting. Doesn't explain why they don't or can't support them and doesn't help you figure out how to complete your taxes in spite of this short coming. Instead it opts to use ambiguous language like "you may be able to report this elsewhere on the return." Too bad. So much for FreeTax.

[@tranquiilllllll]

does it work with non resident on J1 visa?

[@Thecollegeinvestor]

No, FreeTaxUSA does not support 1040-NR returns. The only service we know of that handles non resident alien returns is Sprintax, but we’ve never tried it.

[@adityaprakash1196]

Did you filed your tax on freetaxusa with non resident on j1 visa? As I have also the same situation.

[@thehammer810able]

So when I did it I was confused on the rental information because I put my address on there and then had a section asking for landowner information so I’m assuming that’s my landlord information hopefully I did it right because I see no videos online to confirm this

[@Thecollegeinvestor]

Elaborate - if you're a renter there isn't anything you need to fill out. If you're a landlord, you fill out the Schedule E and have a lot of information to enter.

[@thehammer810able]

@@Thecollegeinvestor Michigan homestead tax credit

[@Thecollegeinvestor]

@@thehammer810able Ahh gotcha - good ole' random state taxes. For that form you need to enter the land owner - not a property manager. If you have a property manager, they should provide the landowners name.

[@PHYLLISBLACKWEL]

why can't you put in the cents when inputing income

[@Thecollegeinvestor]

The IRS doesn't use cents. You round up or down. $0.50 or higher rounds up. $0.49 or lower rounds down.

[@arthurB14]

Does anybody know why the standard deduction doesn’t apply to my income. Single, nobody claims me as independent, filing schedule C, permament resident. On the form you clearly see standart deduction 13.850$ but it doesn’t subtracts from my income?

[@Thecollegeinvestor]

What's your income and AGI?

[@arthurB14]

25

[@arthurB14]

@@Thecollegeinvestor1099k

[@joelferguson9324]

FREE tax = $15 for state file. The EFF?

[@user-fg4my6jr8d]

I tried it and when I enter the numbers for the W2 in the cell it keeps it whole and excludes the deimals. I am someone who is particular and this gets me worried I do not want the IRS to look me like what...... I need some of your advice please

[@Thecollegeinvestor]

You always use whole numbers on your tax return. You round up at 0.50 and down below that. It’s what’s the IRS expects.

[@alexlin2005]

Can freetaxusa do business tax report?

[@Thecollegeinvestor]

It depends on your business type, but it can do a Schedule C.

[@whyme6036]

See my comments on her OLT tax software as I liked it better and fed and Utah state returns were free for me, AGI under $45,000. It can be printed out in Spanish and a big print version for older folks or those with vision issues who need things in larger print.

[@Coforgeinc]

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[@itsnatty]

I'm asked to pay only $15 for filing my tax on FreeTaxUSA...is this for real??? Doesn't this have a catch?

[@Thecollegeinvestor]

If all you have is one federal + state return that makes sense for the price.

[@muny_man]

Wouldn’t Cashapp be free?

[@Thecollegeinvestor]

Cashapp is free 100%, but it is limited in what tax situations it handles. For example, if you need multiple state returns, live in NYC, and various other random examples. It sadly excludes a good number of people.

[@dracojensei1141]

Compare HR Block to Credit Karma Tax Crazy How HR block says I owe state 289.00 and get federal 581.00. TurboTax says I get 900.00 federal and owe 200.00 self employment now I’m here looking for views on the tax prep will freeusa be good selfemploymemt

[@Thecollegeinvestor]

You should always get the same answers for your taxes - it's math. But you may have missed something or the software led you down the wrong path. I'd check with something else, like FreeTaxUSA.

[@williampennjr.4448]

its a rip off. 14.99 per state, and $35 just pay from you refund. free federal is just a hook.

[@Thecollegeinvestor]

Serious question - why would you pay from your refund when the price is so low?

[@williampennjr.4448]

@@Thecollegeinvestor what do you mean "low"

[@Thecollegeinvestor]

@@williampennjr.4448 The federal price is $0, state is $14.99. Why would you opt to pay the $14.99 from your refund by paying the $24.99 fee? Like why not just pay the $14.99 up front instead of paying more? It's a very odd choice. And low - FreeTaxUSA is one of the lowest priced tax software options you'll find. CashApp Taxes is cheaper, but has limitations. All of the other services are more expensive (TurboTax, H&R Block, TaxSlayer, etc.).

[@williampennjr.4448]

@@Thecollegeinvestor What? how else am i supposed to pay? the only other option are by check or credit card. He doesn't have a checking account and it will be months before he gets them and using a credit card has its own fees. Why does it say there are no additional charges for using pay from refund before entering it, but then there is? and why is there no way to go back to edit it? I didn't even enter the ID info yet, so the payment didn't go through. So what's the deal? They're scam artists.

[@Thecollegeinvestor]

There are no fees for paying with a credit card or debit card. And they clearly state that paying with your refund is an extra optional service. We don’t discuss it because we don’t believe anyone should use it (as you discovered it’s a waste of money).

[@muhammadfaisalemir3172]

#1129 kan GRATIS 😂🇮🇩

[@genz3348]

The youngest millennial is 27

[@chukiiisavi17]

You are cute

[@mh-fu2bm]

help, i have a part time job now and also social security. ss gave me a w2 or proof of earning but did not give me credit for the 164$ per month that they with held for medicare. Also will free tax usa guide u thought the ss filing.

[@Ciera123004]

Yes, FreeTaxUSA guides you through filing those