Fidelity free/$5 Turbotax 2024

[TheRealJohnDoe]

Each year, there is a thread speculating on 1) when the Fidelity offer will appear, 2) who is eligible, and 3) how to get the desktop versions instead of online. I've been following the discussions for about eight years so here is a summary:

1) Almost without exception, it has been the Thursday closest to December 15th. The 15th fell on Friday last year, and the offer appeared December 11, making that an outlier data point. My guess for 2024 is Thursday, December 12th.

2) No one knows. You don't know. I don't know. Fidelity reps and client advisors don't know either. Every time someone claims to know, counter data points appear. For example, some will say active trader, but I haven't done a stock trade in 15 years. Some say it is assets in non-qualified accounts at Fidelity, but my assets in non-qualified accounts at Fidelity total one penny. It's also hard to vet data points because some people report getting the TurboTax offer but they are actually talking about the percent off discount that everywhere offers everyone.

3) Each year, they make it difficult to find the desktop version (which is more feature complete than online version) in the offer. But so far, someone has been able to figure the magic path to take once the offer appears to get the desktop version.

Again, let's keep the thread clean by NOT discussing Fidelity offers for a token discount on TurboTax. That's not what this thread is about.

[fetch5482]

3) Each year, they make it difficult to find the desktop version (which is more feature complete than online version) in the offer. But so far, someone has been able to figure the magic path to take once the offer appears to get the desktop version.

Starting from TT 2023, the desktop version costs $5 and online version is free for those who get the offer. It has actually become easier to find the desktop version, assuming that continues for TT 2024.

While desktop version is feature complete, the online version allows for one free e-file in all states. Typically the desktop version will charge you $25-30 for e-filing state (except NY State where it's free, and of course states that don't have state income taxes).

[rationalist_ps]

3) Each year, they make it difficult to find the desktop version (which is more feature complete than online version) in the offer. But so far, someone has been able to figure the magic path to take once the offer appears to get the desktop version.

Starting from TT 2023, the desktop version costs $5 and online version is free for those who get the offer. It has actually become easier to find the desktop version, assuming that continues for TT 2024.

While desktop version is feature complete, the online version allows for one free e-file in all states. Typically the desktop version will charge you $25-30 for e-filing state (except NY State where it's free, and of course states that don't have state income taxes).

Hi "TheRealJohnDoe" & "fetch5482",
The desktop version is offered for $5 based on individual total portfolio balance with Fidelity? Please let us know.

[fetch5482]

Hi "TheRealJohnDoe" & "fetch5482",
The desktop version is offered for $5 based on individual total portfolio balance with Fidelity? Please let us know.

Unfortunately, nobody knows. See point #2 from ops post.

[Naren123]

Some say it is assets in non-qualified accounts at Fidelity, but my assets in non-qualified accounts at Fidelity total one penny.

Non-qualified for what?

[MikeG62]

I believe the desktop version costs around $5. It is not free.

OP, you might want to edit the title to this thread.

Thanks for pointing out the historical pattern on when the product is made available. I'll mark my calendar to check back then.

[TheRealJohnDoe]

Non-qualified for what?

A qualified account is one which enjoys special tax treatment. For example, 401(k), Roth, etc.

https://www.investopedia.com/ask/answers/206.asp

[TheRealJohnDoe]

OP, you might want to edit the title to this thread.

Well, we don't know if that will be the case this year or not, but I'll go ahead and edit the title as requested.

[mhc]

OP,

thanks for starting this thread. I moved everything from Vanguard to Fidelity earlier this year. I'm glad the offer usually comes out mid-Dec. If I don't get it, I'll be able to pick up TT from Amazon after Christmas when it is the lowest price of the year, usually.

[Squirrel208]

.....

[Squirrel208]

.....

[LiveSimple]

let me see this year ... do I get it or not !!!

[TheRealJohnDoe]

read through some of the threads and to be very transparent and honest, most of the comments I read are simply not true. The Turbo Tax offer is available to clients that are either assigned to Private Client Group, Premium Services or Active Trader Services along with these additional criteria: minimum assets of either Fidelity 401K or IRA assets of $1,000,000 or more and Personal Investment (non 401K) assets of at least $500,000 and own one or more nonretirement account or Nonretirement assets $1,000,000 or more

This is the most sweeping definition that I believe has ever been posted. However, my assertion that someone always has a counter data point is still true. I do NOT meet the requirements as stated, and I've received free/$5 TurboTax Premier desktop through Fidelity every year since at least 2017.

If the word that I bolded had been an "or" instead of "and", I would have met the qualification, but I've not had more than a penny in a personal/non-qualified account at Fidelity for more than a decade.

The last part of the quote seems contradictory. It could be that if that were made more clear, especially if that and was an or, this could be accurate.

[Squirrel208]

.....

[TheRealJohnDoe]

You've lost me with the references to bolded text—which weren't included in your reply

Yes, the word "and" is bolded in the quote I included, but it doesn't stand out much, so I understand why you didn't see it. It is the "and" beginning of the phrase

and Personal Investment (non 401K) assets of at least

The threads on this topic over the years have always included someone posting that they know for a fact what the eligibility criteria is, followed by a case in point that contradicts it.

I'm really not seeing any sense of entitlement here. The primary purpose of the thread is so that some fine Boglehead will post when they happen to see the offer first appear when they are on the Fidelity site for another reason. None of us thinks this warrants everybody to be checking every day. It's not worth that.

The rest of the discussion is pretty much just an annual ritual which should be kept pretty light-hearted.

[Feldman]

I don't really understand the source of argument here other than oversight or not reading carefully. As much as possible, this should be a search for factual information. Therefore, experiential points and counterpoints should both be welcome contributions to furthering the discussion.

[glitchy]

From reddit today (combined from replies from two different Fidelity reps in https://www.reddit.com/r/fidelityinvest ... _turbotax/ ):

Free TurboTax offers are typically extended to our eligible customers each year beginning in mid-December and will display on the "Portfolio Summary" page when logging into Fidelity.com. The offer is for TurboTax Free Online Premium or Premier desktop download version ($5 for the download version). Please note that this offer applies to federal returns and one state return only. The cost of additional state returns, if necessary, would be your responsibility.

In addition, eligibility requirements are subject to change from year to year, so although you may have had the opportunity to utilize this offer in the past, it does not guarantee that you are still eligible for it or will receive it again.

Also:

While we still do not have a specific date to provide you with, Turbo Tax offers and products will go live in January this tax season.

We typically announce news and updates on our sub, so keep an eye out for those posts in January!

FYI, fwiw. Bolding mine.

[fetch5482]

From reddit today (combined from replies from two different Fidelity reps in https://www.reddit.com/r/fidelityinvest ... _turbotax/ ):

Free TurboTax offers are typically extended to our eligible customers each year beginning in mid-December and will display on the "Portfolio Summary" page when logging into Fidelity.com. The offer is for TurboTax Free Online Premium or Premier desktop download version ($5 for the download version). Please note that this offer applies to federal returns and one state return only. The cost of additional state returns, if necessary, would be your responsibility.

In addition, eligibility requirements are subject to change from year to year, so although you may have had the opportunity to utilize this offer in the past, it does not guarantee that you are still eligible for it or will receive it again.

Also:

While we still do not have a specific date to provide you with, Turbo Tax offers and products will go live in January this tax season.

We typically announce news and updates on our sub, so keep an eye out for those posts in January!

FYI, fwiw. Bolding mine.

This has been their standard canned response since a few years on the subreddit when folks have asked about eligibility criteria for TT.

[anoop]

Hi "TheRealJohnDoe" & "fetch5482",
The desktop version is offered for $5 based on individual total portfolio balance with Fidelity? Please let us know.

Unfortunately, nobody knows. See point #2 from ops post.

Last year, if you qualified for the free online version (the claim is no one knows how it's determined), then you had to login in to your Intuit account (via the link provided by Fidelity) and could then select a downloadable version of the desktop product for $5.

[TheRealJohnDoe]

Turbo Tax offers and products will go live in January this tax season.

If this is accurate, that's a significant change from the past. I've been tracking the reveal date since 2017, and it has always been mid-December.

The other quoted text from an apparently official Fidelity customer engagement source is consistent with what has been true in years past.

We'll see.

[realclemsongrad]

This is what is posted on my fidelity account.

--
You're eligible for an exclusive TurboTax® offer!
You qualify for an exclusive offer of 30% off TurboTax federal products, plus a consultation session with tax experts at no additional cost. You'll see the link here by mid-January.
--

Unlike last year where I could download TT desktop for $5 this year we might be paying more . I have used this free offer for a long time, and this seems like a shift in the partnership unless this is just my account.

[TheRealJohnDoe]

This is what is posted on my fidelity account.

As I said in my original post, there is always a percent off offer for TurboTax that basically every financial institution offers everyone that breathes. This can be found at https://www.fidelity.com/accounts-trade ... x-discount. I didn't click through this but typically the discount offered brings it down to Amazon's price or perhaps not even that low when considering BF/CM/year-end deals.

If this year is like the last 7 or more, there will appear an offer on the All Accounts/Summary Page for totally free TurboTax Premier (online, or desktop for $5) around mid-December. But only for a subset of clients.

[glitchy]

As I said in my original post, there is always a percent off offer for TurboTax that basically every financial institution offers everyone that breathes. This can be found at https://www.fidelity.com/accounts-trade ... x-discount. I didn't click through this but typically the discount offered brings it down to Amazon's price or perhaps not even that low when considering BF/CM/year-end deals.

I click through from that link once or twice a week out of an odd sense of curiosity.

Up until three weeks ago it was offering me 20% off a list price of I believe $119 for tax year 2023 software. Two weeks ago (despite the Fidelity page saying 20% off) it was offering me no discount at all, still with 2023 software. This past week it's started offering 20% off what appears to be the 2024 software, and the list price is down to $89. (So, $72 with discount.)

There is clearly machinery working on setting things up for the new tax year's offerings and I would not be at all surprised if it started coming up free in mid-December as per the usual schedule, whatever they say to the contrary.

[TBillT]

Thanks for the heads up...I need to jump on it this year as last year they had a hacking issue and had to take the link down for almost a month or so

[Kandinsky]

It's great if you can take advantage of that offer but I wouldn't move my assets from Vanguard (or wherever you are) just for that offer if anyone is thinking about that. It's not really free - they're just giving you back some of the higher managed service fees in the form of tax software. They collected fees from you via AUM fees or fund fees or something of the like. I just buy it in November when it comes out and call it a day.

[Tabulator]

I would consider opening a Fidelity account just to get free TurboTax. Judging from this thread it wouldn't be that easy. I wonder if there are cheaper alternatives to TurboTax that import data directly from brokerages as seamlessly as TurboTax.

I wouldn't move my assets from Vanguard (or wherever you are) just for that offer if anyone is thinking about that

[realclemsongrad]

This is what is posted on my fidelity account.

As I said in my original post, there is always a percent off offer for TurboTax that basically every financial institution offers everyone that breathes. This can be found at https://www.fidelity.com/accounts-trade ... x-discount. I didn't click through this but typically the discount offered brings it down to Amazon's price or perhaps not even that low when considering BF/CM/year-end deals.

If this year is like the last 7 or more, there will appear an offer on the All Accounts/Summary Page for totally free TurboTax Premier (online, or desktop for $5) around mid-December. But only for a subset of clients.

Sorry I misunderstood you first time. Apologies.

Hopefully this deal shows up in the coming weeks. I had this for many years.

Thank you

[CardinalRule]

The annual Fidelity free (or nominal cost) TurboTax thread.

A holiday tradition like no other.

[GeraniumLover]

Following

[michaeljc70]

I have 2 accounts at Fidelity. However, I switch to H&R many years ago and doubt I'd go back to TT save 20 bucks.

[TheRealJohnDoe]

I have 2 accounts at Fidelity. However, I switch to H&R many years ago and doubt I'd go back to TT save 20 bucks.

TT Premier is more like $82, but no, I wouldn't switch what I was used to in order to save that either.

[michaeljc70]

I have 2 accounts at Fidelity. However, I switch to H&R many years ago and doubt I'd go back to TT save 20 bucks.

TT Premier is more like $82, but no, I wouldn't switch what I was used to in order to save that either.

The past few years I bought H&R Block Deluxe+state and it has been under $25. I don't have any rental properties, employee stocks plans, etc.

[Darth Xanadu]

read through some of the threads and to be very transparent and honest, most of the comments I read are simply not true. The Turbo Tax offer is available to clients that are either assigned to Private Client Group, Premium Services or Active Trader Services along with these additional criteria: minimum assets of either Fidelity 401K or IRA assets of $1,000,000 or more and Personal Investment (non 401K) assets of at least $500,000 and own one or more nonretirement account or Nonretirement assets $1,000,000 or more

The last part of the quote seems contradictory. It could be that if that were made more clear, especially if that and was an or, this could be accurate.

I agree this is confusing, at least to me. What's the difference between "Personal Investment (non 401K) assets" and "Nonretirement assets"? They must be different since the rep is indicating different thresholds for eligibility.

Is it supposed to read like this:

The Turbo Tax offer is available to clients that are either assigned to Private Client Group, Premium Services or Active Trader Services along with these additional criteria: (i) minimum assets of either Fidelity 401K or IRA assets of $1,000,000 or more and Personal Investment (non 401K) assets of at least $500,000 and own one or more nonretirement account or (ii) Nonretirement assets $1,000,000 or more

Is an IRA considered both a Personal Investment account and a non-retirement account? So if someone had a Fidelity IRA over $1M, does that single account fulfill all 3 requirements associated with (i)?

[fetch5482]

The last part of the quote seems contradictory. It could be that if that were made more clear, especially if that and was an or, this could be accurate.

I agree this is confusing, at least to me. What's the difference between "Personal Investment (non 401K) assets" and "Nonretirement assets"? They must be different since the rep is indicating different thresholds for eligibility.

Is it supposed to read like this:

The Turbo Tax offer is available to clients that are either assigned to Private Client Group, Premium Services or Active Trader Services along with these additional criteria: (i) minimum assets of either Fidelity 401K or IRA assets of $1,000,000 or more and Personal Investment (non 401K) assets of at least $500,000 and own one or more nonretirement account or (ii) Nonretirement assets $1,000,000 or more

Is an IRA considered both a Personal Investment account and a non-retirement account? So if someone had a Fidelity IRA over $1M, does that single account fulfill all 3 requirements associated with (i)?

I see it did not take us very long to start the annual fidelity TT thread tradition:
1) Someone mentions a criteria for qualification
2) Some seek more clarification on the criteria
3) Some state they meet the criteria yet they did not get the free TT
4) Some state they do not meet the criteria yet they got the free TT

So I will go with (4) from last year - I do NOT meet those criteria and still had free TT 2023 last year.

Wait. Let me grab my popcorn an follow along!

[nonnie]

I'm a Fidelity client and have never gotten free TT. I've used TT ever since I can remember. I did use free tax USA to help a friend last year and found it a bit clunky.

Here's my question: I'm willing to pay. How easy is it to learn and or shift to another program and what would you recommend?

[blueskyuc]

Just FYI: I see the free TT on my account now. (if you are eager to know, login and search for turbotax and then click on the link)

You're eligible for an exclusive TurboTax® offer!
As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.* You'll see the link here mid-January.

Check back soon

* This qualifies you for one free federal and one free state tax return using TurboTax Online Premium.

[fetch5482]

Just FYI: I see the free TT on my account now. (if you are eager to know, login and search for turbotax and then click on the link)

You're eligible for an exclusive TurboTax® offer!
As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.* You'll see the link here mid-January.

Check back soon

* This qualifies you for one free federal and one free state tax return using TurboTax Online Premium.

Guess I am not eligible this year

You qualify for an exclusive offer of 30% off TurboTax federal products, plus a consultation session with tax experts at no additional cost. You'll see the link here by mid-January.

[2pedals]

I agree this is confusing, at least to me. What's the difference between "Personal Investment (non 401K) assets" and "Nonretirement assets"? They must be different since the rep is indicating different thresholds for eligibility.

Is it supposed to read like this:

The Turbo Tax offer is available to clients that are either assigned to Private Client Group, Premium Services or Active Trader Services along with these additional criteria: (i) minimum assets of either Fidelity 401K or IRA assets of $1,000,000 or more and Personal Investment (non 401K) assets of at least $500,000 and own one or more nonretirement account or (ii) Nonretirement assets $1,000,000 or more

Is an IRA considered both a Personal Investment account and a non-retirement account? So if someone had a Fidelity IRA over $1M, does that single account fulfill all 3 requirements associated with (i)?

I see it did not take us very long to start the annual fidelity TT thread tradition:
1) Someone mentions a criteria for qualification
2) Some seek more clarification on the criteria
3) Some state they meet the criteria yet they did not get the free TT
4) Some state they do not meet the criteria yet they got the free TT

So I will go with (4) from last year - I do NOT meet those criteria and still had free TT 2023 last year.

Wait. Let me grab my popcorn an follow along!

I have been #3 for the past few years. There are sub-other categories for #3 and #4

3a) Some state they meet the criteria and did not get the free TT without an assigned Fidelity Representative
3b) Some state they meet the criteria and did not get the free TT with an assigned Fidelity Representative
4a) Some state they did not meet the criteria and got the free TT without an assigned Fidelity Representative
4b) Some state they did not meet the criteria and got the free TT with an assigned Fidelity Representative

and other categories such as:
5) Some state they meet the criteria and got the free TT
5a) Some state they meet the criteria and got the free TT without an assigned Fidelity Representative
5b) Some state they meet the criteria and got the free TT with an assigned Fidelity Representative

6) Some state (with an unknown criteria status) an assigned Fidelity Representative helped them get the free TT

[stilllurking]

Have never gotten free TT but someone else will get the $5 option for me when it's available.

"You qualify for an exclusive offer of 30% off TurboTax federal products, plus a consultation session with tax experts at no additional cost. You'll see the link here by mid-January."

[TheRealJohnDoe]

Just FYI: I see the free TT on my account now. (if you are eager to know, login and search for turbotax and then click on the link)

You're eligible for an exclusive TurboTax® offer!
As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.* You'll see the link here mid-January.

Check back soon

* This qualifies you for one free federal and one free state tax return using TurboTax Online Premium.

If this is the extent of the Fidelity TurboTax offer this year, it will be completely different from the timing and the offer that has happened every year since I started tracking it in 2017. If tomorrow (Thursday closest to Dec 15th) comes and goes without the offer appearing, it will be time to assume it isn't happening.

[vtMaps]

As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.

If it was offered to me, I wouldn't take it. I want desktop software, not online software. --vtMaps

[FreddieFIRE]

TLDR: I'll just do what I do every year. Wait until this thread explodes and then check my Fidelity home page. Works every time! (so far....)

[126inc]

I have an 8 figure account at fidelity but didn't get turbotax, can I afford to pay for it sure but I'd like it for free.

A few years back i was PCG and got free TT but got removed at some point, o well

[fetch5482]

TLDR: I'll just do what I do every year. Wait until this thread explodes and then check my Fidelity home page. Works every time! (so far....)

what's the fun in doing that?!

[TheRealJohnDoe]

If it was offered to me, I wouldn't take it. I want desktop software, not online software. --vtMaps

The offer as it has been each year 2017-2023 included the desktop software option. Last year, there was a $5 charge for that option. I wouldn't want to use the online version either.

[LiveSimple]

Same here today

You're eligible for an exclusive TurboTax® offer!
As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.* You'll see the link here mid-January.

Still will wait for download version or get it fromCostco !!! or Amazon

[tzydzy]

As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.

If it was offered to me, I wouldn't take it. I want desktop software, not online software. --vtMaps

If you are offered the "free" Turbotax based on your assets and relationship with Fidelity, you can pay an additional fee (2023 it was $5) for a downloadable version. That's what I have done in the past several years after being offered the Turbotax Premier Package.

I saw in another blog that the offer may be posted in the https://www.fidelity.com/tax-information/ page . Right now a 25% off discount offer is shown when I am logged in and there also is a special discount for Ernst and Young services. I will check back periodically per the other blog for the free version (or +$5 download ). As I file after an extension, I'm not in a hurry, but the offer typically is available only for a limited.

I came to expect dynamic pricing for off the shelf Turbotax at other retailers. Staples, Office Depot, Best Buy, Target and Amazon etc. have had prices that varied each week with and without rebates or other bonus or bundled purchase offers. More popcorn please!

[TBillT]

I am not seeing $5 offer yet and I should qualify ( I currently see 30% off mid-Jan.).
Mid-Jan is no fun either. Let me check my spouse. Nope she has a 25% off offer.

[fetch5482]

I am not seeing $5 offer yet and I should qualify ( I currently see 30% off mid-Jan.).
Mid-Jan is no fun either. Let me check my spouse. Nope she has a 25% off offer.

We are in the same boat. Got it last year (and not much has changed since then in terms of my relationship status with Fidelity, so I should still qualify with whatever criteria they had). I have 30% offer but with a mid-Jan date to come back, my spouse has 25% offer but immediately available.

I am hoping that before that "come back by mid-Jan" part somehow magically the free TT will show up for my account.

[Drew31]

So I just went to the Tax Information page and clicked on the TurboTax logo showing 25% discount.

This brought me to a page that says...


As a select Fidelity customer, you qualify to file for free with TurboTax Online Premium.* You'll see the link here mid-January.
Check back soon

* This qualifies you for one free federal and one free state tax return using TurboTax Online Premium.

So it does appear that it's going to be mid-January this year. Not sure if this means can still get the download version for $5.