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Summary of Federal Tax Law Changes for 2010-2017

Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2017 • October 26, 2024 1:54 PM
OVERVIEW

Learn how federal tax law changes could impact your tax return in 2010 and beyond. Here is a summary of all federal tax law changes between 2010 - 2017.

The article below is accurate for your 2017 taxes, the one that you file this year by the April 2018 deadline, including a few retroactive changes due to the passing of tax reform. Some tax information below will change for your 2018 taxes, but won’t impact your 2017 taxes. Learn more about tax reform here.

Many of the tax breaks in recent tax-relief bills were designed to be phased in over a number of years, or are indexed to inflation. To help you determine how these tax laws affect your long-term planning, this article explains the changes scheduled to come into effect through 2017.

Key Takeaways

  • Many of the tax breaks in tax-relief bills were designed to be phased in over a number of years, or are indexed to inflation.
  • The 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, and 35 percent tax brackets all kick in at income levels that are higher than they were in 2009.
  • The percentage of bonus depreciation phases down in 2023 to 80%, 2024 to 60%, 2025 to 40%, and 2026 to 20%.
  • Debt canceled from the short sale, foreclosure, or mortgage modification for Qualified Principal Residences is no longer excludable from income under the Mortgage Forgiveness Debt Relief Act.

Pick a year from the list below to learn what tax changes affect that year's returns. We include changes for past years to show how the tax law has progresses and to provide information for those doing tax returns for prior years. Congress made many significant tax changes in late 2010, including passage of the Tax Relief Act, that will have a major impact over the next several years.

TurboTax Tip:

The changes for each year can include estate tax exemptions, Social Security wage bases, deductions for state and local income taxes, personal exemption amounts, and depreciation rules.

Started or Continuing in 2010

Tax Credit of up to $8,000 for First-Time Homebuyers and $6,500 for Existing Homeowners

The Congress and the Obama Administration extended and expanded the wildly popular 2008 first-time homebuyer tax credit. In addition, the income limits were increased, making even more people eligible.

Existing homebuyers are eligible to receive a tax credit of 10% of the purchase price up to $6,500 if they bought and closed on a replacement home by September 30, 2010. In order to be eligible for the credit, homeowners must have lived in the same principal residence for any five-consecutive-year period during the past eight years. They are not required to sell or dispose of their current home, but the new home must become their principal residence.

If you purchased and closed on a primary residence before September 30, 2010, and are a “first-time” homebuyer, you can qualify for a tax credit of 10% of the purchase price up to $8,000. To be eligible, you must not have owned a residence in the United States in the previous three years.

To qualify for either credit, you must have signed a binding contract to buy the house by April 30, 2010, and closed on it by September 30, 2010.

Members of the armed forces who were on official extended duty outside of the United States for at least 90 days between Jan .1, 2009, and May 1, 2010, may qualify for a one-year extension.

The credit is refundable to the extent it exceeds your regular tax liability, which means that if it more than offsets your tax liability, you’ll get a refund check. But it does not offset the Alternative Minimum Tax.

In addition, income limits were expanded from earlier versions of the credit. Homebuyers who file as Single or Head of Household taxpayers can claim the full credit if their modified adjusted gross income (MAGI) is less than $125,000. For married couples filing a joint return, the combined income limit is $225,000.

Single or Head of Household taxpayers who earn between $125,000 and $145,000, and Married Filing Jointly couples who earn between $225,000 and $245,000 are eligible to receive a partial credit. The credit is not available for Single filers whose MAGI is greater than $145,000 and Married Filing Jointly couples with a MAGI over $245,000. Also, homes costing more than $800,000 are not eligible for the credit.

Payroll Tax Credit

For 2009 and 2010, Congress gave workers a credit of 6.2 percent of their earned income, capped at $400 for Single filers and $800 for joint filers. For Single filers, the credit starts phasing out at $75,000 of Adjusted Gross Income and dries up at $95,000. The phase out zone for couples is $150,000-$190,000. Employees will get the credit in advance via lower income tax withholding in each paycheck, not as a rebate check.

Self-employed taxpayers can reduce their quarterly estimated payments to get an advance benefit from the credit. The exact amount of the payroll tax credit for the year will be calculated on the filers’ tax returns.

Indexed Tax Brackets

The 10 percent, 15 percent, 25 percent, 28 percent, 33 percent and 35 percent tax brackets all kick in at income levels that are more than 4 percent higher than they were in 2009.

Personal Exemptions

For 2010, each personal exemption you can claim is worth $3,650, the same as in 2009.

Standard Deductions

For 2010, the Standard Deduction for married taxpayers filing a joint return is $11,400, the same as in 2009.

For Single filers, the amount is $5,700 in 2010, up by $250 over 2009. Those filing as Head of Household can claim $8,400 in 2010, up $50 from 2009.

Non-itemizers can also add any casualty losses that occurred in presidentially-declared disaster areas.

Income Phase Outs for Itemized Deductions and Personal Exemptions for High-Income Taxpayers

The amount of itemized deductions and personal exemptions you can take are normally phased out as your income rises. In 2010, however, those income limits have been repealed, and the recent tax relief act extends the repeal for two more years, through 2012.

Section 179 Expense Deduction

The maximum amount of equipment placed in service in 2010 through 2013 that businesses can expense was increased to $500,000. And the annual investment limit was raised to $2,000,000. Thus, you won't begin to lose the benefit of expensing until you place more than $2,000,000 of assets in service in 2010 through 2014. The allowance drops to $125,000 for tax years beginning in 2015.

Tax-Free Parking for Employees

Companies can pay for $240 a month of parking tax-free for employees. The cap on tax-free transit passes is now $240 a month as well, the same as for parking.

Tax Credit for College Tuition

For 2010 through 2017, the Hope credit is replaced by a new credit. Now called the American Opportunity Tax Credit, it provides a credit of up to $2,500 per student per year for four years of college. It now also covers the cost of books and begins to phase out at $80,000 of Adjusted Gross Income for Single filers and $160,000 for Married Filing Jointly filers. If the credit is more than your income tax liability, 40 percent of it is refundable. Also, the full credit is allowed against the Alternative Minimum Tax.

Child Tax Credit

If the credit exceeds the filer’s tax liability, all or part of the credit will be refunded if the filer earns more than $3,000 in 2010, down from $12,550 in earnings previously.

Earned Income Tax Credit (EITC)

For families with three or more children, the maximum Earned Income Tax Credit for 2010 rises by $628.50. And the phase out of the credit for joint filers starts at higher income levels in 2010, allowing more of them to claim the credit.

Nontaxable Combat Pay Allowed for Earned Income Tax Credit (EITC)

The election to include nontaxable combat pay in the calculation of earned income for the Earned Income Tax Credit applies for 2010.

Direct Donations of IRAs to Charity

IRA owners that are required to make distributions can donate up to $100,000 of their IRAs to charity through 2014 without having to report the withdrawal as income and deduct the donation as a charitable contribution. Deductions will not be limited by the Adjusted Gross Income cap on charitable contributions or the itemized deduction phase out.  Keeping IRA distributions out of adjustable gross income in the first place can also have other benefits.  Amounts donated in this way count as all of part of the IRA owner's required minimum distribution.

Higher Income Limits for Deductible IRAs and for Roth IRAs

If you are covered by a retirement plan at work, you can take a full IRA deduction in 2010 if your modified Adjusted Gross Income is $89,000 or less (Married Filing Jointly) or $56,000 or less (Single or Head of Household). A partial deduction is allowed until your Adjusted Gross Income reaches $109,000 if you are Married Filing Jointly, or $66,000 if you are Single or a Head of Household. Also, the opportunity to contribute to a Roth IRA is now phased out as your modified Adjusted Gross Income rises between $167,000 and $177,000 if you are Married Filing Jointly, or $105,000 to $120,000 if you are Single or Head of Household.

Roth IRA Conversions

Starting in 2010, individuals with any amount of modified Adjusted Gross Income are free to convert a traditional IRA to a Roth IRA. Conversions are fully taxable at your regular tax rate. For conversions in 2010, taxpayers can spread the tax due over two years. Half of the conversion will be taxed in 2011, and the remainder will be taxed in 2012. Removing the limit on conversions effectively eliminates the income limit on contributions to Roth IRAs. A taxpayer with income too high to use a Roth will be able to contribute to a traditional IRA (which does not have income limits for contributions) and immediately convert to a Roth.

Contribution Limit for 401(k) Plans

The maximum employee contribution is $16,500 in 2010 for 401(k) and similar workplace retirement plans, including 403(b)s and the federal Thrift Savings Plan. Workers age 50 and older in 2010 can put in an additional $5,500, making their maximum $22,000.

Tax Rate on Capital Gains

The tax rate on capital gains from the sale of assets held longer than one year remains at zero percent for people in the 10 percent or 15 percent tax brackets. The 15 percent maximum tax rate on long-term capital gains for taxpayers in higher brackets also remains the same.

Tax Rate on Dividends

Similarly, the special 5 percent maximum rate on dividends of taxpayers in the 10 percent and 15 percent tax brackets remains at zero percent.

Estate Tax Exemption

For 2010, there is no federal estate tax.  However the executors of estates where the taxpayer died in 2010 can elect to apply the 2011 exemption of $5,000,000, with a maximum estate tax of 35%.  Different rules for the step up in cost basis apply in these two years, meaning some estates may find the 2011 rules more beneficial.  The estate tax was reinstated in the 2010 Tax Relief Act.

Higher Annual Gift Tax Exemption

For 2010, you can give up any individual up to $13,000 without owing any gift tax.

Credit for Residential Energy Efficient Property

The credit for 30 percent of the cost of installing solar water heating equipment, solar electric equipment, geothermal heat pumps or small wind turbines in your primary residence or a second home is unlimited in 2010. But the credit for fuel cell property cannot exceed $500 per half-kilowatt capacity.

Credit for Energy-Saving Home Improvements

The tax credit for the cost of energy-saving home improvements is 30 percent for 2010, up to a combined maximum of $1,500 in both 2009 and 2010. It applies to qualified insulation, windows, outside doors, biomass fuel stoves and high-efficiency furnaces, water heaters and central air conditioners.

Converting a Second Home to a Primary Home

If you convert a second home into a principal residence after 2008, you may not be able to exclude all of your gain. A portion of the gain on a subsequent sale of the home will be ineligible for the home-sale exclusion of up to $500,000, even if the seller meets the two-year ownership-and-use tests. The portion of the profit that’s subject to tax is based on the ratio of the time after 2008 when the house was a second home or a rental unit, to the total time you owned it. So if you have owned a vacation home for 18 years and make it your main residence in 2011 for two years before selling it, only 10 percent of the gain (two years of non-qualified second home use divided by 20 years of total ownership) is taxed. The rest qualifies for the home-sale exclusion of up to $500,000.

Refundable Child Tax Credit

The income threshold needed to qualify to claim the child tax credit if it exceeds your regular income tax bill is $3,000.

College Savings Plans

529 College Savings Plans can now be tapped tax-free to pay for a computer or Internet access.

Estimated Tax Relief for Owners of Small Businesses

If an individual’s Adjusted Gross Income for 2009 was less than $500,000 and more than half of the gross income was from a business with fewer than 500 workers, the estimated income taxes for 2010 estimated tax payments can be based on the lesser of 90 percent of tax liability for 2009 or 2010. The usual estimated tax benchmarks of 100 percent or 110 percent of tax liability do not apply.

Domestic Production Activities Deduction

In 2010, this deduction increases to nine percent of qualifying business net income. This deduction applies to businesses engaged in construction, engineering or architectural services, film production, or the lease, rental or sale of equipment you manufactured. However, the rate remains six percent for oil and gas companies.

Educators' Deduction

You can deduct up to $250 ($500 if Married Filing Jointly and both spouses are educators, but not more than $250 each) of any unreimbursed expenses you paid or incurred for books, supplies, computer equipment (including related software and services), other equipment, and supplementary materials that you use in the classroom. You must have worked at least 900 hours a school year in a school that provides elementary or secondary education.

This deduction has been extended through the end of 2014.

Tuition and Fees Deduction

You can deduct up to $4,000 of college tuition and fees through 2014.

Income Earned Abroad

The maximum foreign earned income exclusion is increased to $91,500. This is a $100 increase from 2009.

Limits on Deducting Farm Losses

Beginning in 2010, the amount of farm losses you can enter to offset non-farm income is capped at the greater of $300,000 or your net farm income over the past five years. But this limit will apply only if you get federal farm payments or Commodity Credit Corporation (CCC) loans. You can take suspended losses in later years. The caps will also apply to partners and S corporation owners.

Exemptions for the Alternative Minimum Tax

For 2010, the exemption levels were increased to $72,450 for married couples filing jointly, $47,450 for those filing as Single and Head of Household, and $36,225 for married couples filing separately.

Partial Exclusion for Unemployment Benefits

For 2010, the first $2,400 of unemployment benefits you receive is no longer tax-free.

Sales Tax Deduction for New Vehicles

Beginning in 2010, buyers of new vehicles no longer get a tax benefit for sales tax paid on new vehicles, unless they itemize and elect to deduct sales taxes instead of state income taxes.

Starting in 2011

Lower Tax Rates Extended

The 2010 Tax Relief Act extends through the end of 2012 the tax rates in effect in 2010. They had been scheduled to increase to the higher tax rates that were in effect prior to 2001.

Estate Tax

For individuals dying in 2011, the federal estate tax has a $5 million exemption and a 35 percent maximum rate.

Lower Capital Gains and Dividend Tax Rates Extended Through 2012

The tax rate reductions for long-term capital gains remain in effect for 2011 and 2012.

Child Tax Credit

The credit of $1,000 per eligible child continues through 2017.

Payroll Tax Credit

Starting in 2011, the partial credit for payroll taxes paid by employers is no longer available.

Section 179 Expense Deduction

The $500,000 maximum amount of equipment placed in service that businesses can expense and the annual investment limit of $2,000,000 remain in effect for 2011.

Tax Credit for College Tuition

The American Opportunity Tax Credit remains in effect through 2017.

Earned Income Tax Credit (EITC)

Temporary increases in the Earned Income Tax Credit for filers with three or more children and the higher income levels for the phase out of the credit have been extended through the end of 2017.

Mortgage Insurance Premiums

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The special itemized deduction for mortgage insurance premiums paid on mortgages taken out after 2006 expires on Dec. 31, 2014.

Credit for Energy-Saving Home Improvements

The 30 percent tax credit of the cost of energy-saving home improvements was extended by the Tax Relief Act of 2010 through 2011.

Starting in 2012

Estate Tax

For individuals dying after 2011, the federal estate tax is increased to $5.12 million exemption and a 35 percent maximum rate. The current federal estate tax rules are scheduled to end after 2012.

Lower Capital Gains and Dividend Tax Rates Extended Through 2012

The tax rate reductions for long-term capital gains remain in effect for 2011 and 2012.

Child Tax Credit

The credit of $1,000 per eligible child continues through 2017. The credit was extended by two years by the 2010 Tax Relief Act.

Starting in 2013

Estate Tax

For individuals dying after 2012, the federal estate tax is increased to $5.25 million exemption and a 40 percent maximum rate.

Payroll Taxes

Employee payroll taxes will go back up to 6.2% on the Social Security wage base ($116,700), This ends the 2 percent temporary payroll tax cuts for 2011 and 2012.

Medicare Investment-Income Surtax

If your Modified Adjusted Gross Income or MAGI is greater than $200,000 for Single or $250,000 for Married Filing Jointly, you may pay the new Medicare surtax on net investment income.

Additional Medicare Tax for High Earners

Taxpayers with earned income greater than $200,000 for Single or $250,000 for Married Filing Jointly will also pay a higher Medicare payroll tax.

Higher Tax Rate For High Income

2013 brings an additional tax bracket, 39.6 percent, for Single taxpayers with taxable income greater than $400,000 or for couple filing jointly with taxable income greater than $450,000.

Limitation On Exemptions and Deductions

Taxpayers with Adjusted Gross Income or AGI above $250,000 for Single or $300,000 for Married Filing Jointly may have their itemized deductions and personal exemptions reduced.

Started or Continuing in 2014

Estate Tax

For individuals dying after 2013, the federal estate tax is increased to $5.34 million exemption and a 40 percent maximum rate.

Social Security Wage Base

The Social Security wage base is increased to $117,000.

Individual Responsibility Penalties

Penalties are assessed for each month that any individual does not have the minimum essential health insurance coverage.

Premium Tax Credits for Health Coverage

Some taxpayers who obtain health insurance coverage through a qualified marketplace may qualify for health premium tax credits to subsidize the cost of coverage.

Deduction for State and Local Income Taxes

State and local income taxes paid is no longer an itemized deduction.

Exclusion From Income of Canceled Debt on Qualified Principal Residence

Debt cancelled from the short sale, foreclosure, or mortgage modification for Qualified Principal Residences can be excluded from income under the Mortgage Forgiveness Debt Relief Act. This was extended to the end of 2014.

Started or Continuing in 2015

Estate Tax

For individuals dying after 2014, the federal estate tax is increased to $5.43 million exemption and a 40 percent maximum rate.

Social Security Wage Base

The Social Security wage base is increased to $118,500.

Individual Responsibility Penalties

Penalties are assessed for each month that any individual does not have the minimum essential health insurance coverage.

Premium Tax Credits for Health Coverage

Some taxpayers who obtain health insurance coverage through a qualified marketplace may qualify for health premium tax credits to subsidize the cost of coverage.

Deduction for State and Local Income Taxes

State and local income taxes paid remains an itemized deduction.

Exclusion From Income of Canceled Debt on Qualified Principal Residence

Debt cancelled from the short sale, foreclosure, or mortgage modification for Qualified Principal Residences can be excluded from income under the Mortgage Forgiveness Debt Relief Act. This was extended to the end of 2016. This can also apply to debt that is discharged in 2017 provided that there was a written agreement entered into in 2016.

Started or Continuing in 2016

Estate Tax

For individuals dying after 2015, the federal estate tax is increased to $5.45 million exemption and a 40 percent maximum rate.

Social Security Wage Base

The Social Security wage base remains $118,500.

Individual Responsibility Penalties

Penalties are assessed for each month that any individual does not have the minimum essential health insurance coverage. In 2016 the penalty increases to $695 per adult, or 2.5% of income with a family maximum of $2,085.

Premium Tax Credits for Health Coverage

Some taxpayers who obtain health insurance coverage through a qualified marketplace may qualify for health premium tax credits to subsidize the cost of coverage.

Deduction for State and Local Income Taxes

State and local income taxes remains an itemized deduction.

Exclusion From Income of Canceled Debt on Qualified Principal Residence

Debt cancelled from the short sale, foreclosure, or mortgage modification for Qualified Principal Residences can be excluded from income under the Mortgage Forgiveness Debt Relief Act. This was extended to the end of 2016. This can also apply to debt that is discharged in 2017 provided that there was a written agreement entered into in 2016.

Standard Deduction for Head of Household Filers

Head of Household Standard Deduction increases by $50 to $9,300 while all other filing statues remain the same.

Personal Exemption Amount Increases

The personal exemption increases from $4,000 to $4,050.

Started or Continuing in 2017

Estate Tax

For individuals dying in 2017, the federal estate tax is increased to $5.49 million exemption and a 40 percent maximum rate.

Social Security Wage Base

The Social Security wage base remains $127,200.

Individual Responsibility Penalties

Penalties are assessed for each month that any individual does not have the minimum essential health insurance coverage. In 2017 the penalty remains at $695 per adult, or 2.5% of income with a family maximum of $2,085.

Premium Tax Credits for Health Coverage

Some taxpayers who obtain health insurance coverage through a qualified marketplace may qualify for health premium tax credits to subsidize the cost of coverage.

Deduction for State and Local Income Taxes

State and local income taxes remains an itemized deduction.

Exclusion From Income of Canceled Debt on Qualified Principal Residence

Debt cancelled from the short sale, foreclosure, or mortgage modification for Qualified Principal Residences is no longer excludable from income under the Mortgage Forgiveness Debt Relief Act. This was extended to the end of 2016. This could also apply to debt that was discharged in 2017 provided that there was a written agreement entered into in 2016.

Standard Deduction for Head of Household Filers

Standard Deductions increase from 2016 levels: Single = $6,350, Married Filing Jointly = $12,700, Married Filing Separately = $6,350, and Head of Household = $9,350.

Personal Exemption Amount Increases

The personal exemption remains $4,050.

Tuition and Fees Deduction

The deduction for tuition and fees is no longer available. The  American Opportunity Credit and Lifetime Learning Credit are both still available to qualified taxpayers.

Deduction for Medical Expenses

In 2017 and 2018, all taxpayers, including those under 65, are now subject to the 7.5% of Adjusted Gross Income (AGI) threshold for deducting medical expenses.

Beginning Jan. 1, 2020, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for the year that exceeds 10% of your adjusted gross income.

Depreciation

For assets placed in service in the 2017 tax year, you can take a maximum Section 179 deduction of $510,000. The amount you can expense is reduced if you purchase more than $2,030,000 in eligible property during the year.

Bonus Depreciation: Bonus depreciation has been changed for qualified assets acquired and placed in service after September 27, 2017. The old rules of 50% bonus depreciation still apply for qualified assets acquired before September 28, 2017. These assets had to be purchased new, not used. The new rules allow for 100% bonus "expensing" of assets that are new or used. The percentage of bonus depreciation phases down in 2023 to 80%, 2024 to 60%, 2025 to 40%, and 2026 to 20%. After 2026 there is no further bonus depreciation. This bonus "expensing" should not be confused with expensing under Code Section 179 which has entirely separate rules, see above.

The 100% expensing is also available for certain productions (qualified film, television, and live staged performances) and certain fruit or nuts planted or grafted after September 27, 2017.

Taxpayers can make an election to opt out of the new bonus depreciation rules and use 50% bonus first year depreciation per the prior rules for the first tax year ending after September 27, 2017.

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TURBOTAX ONLINE/MOBILE PRICING

  • Start for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. For most paid TurboTax online and mobile offerings, you may start using the tax preparation features without paying upfront, and pay only when you are ready to file or purchase add-on products or services. Actual prices for paid versions are determined based on the version you use and the time of print or e-file and are subject to change without notice. Special discount offers may not be valid for mobile in-app purchases. Strikethrough prices reflect anticipated final prices for tax year 2023.

  • TurboTax Free Edition:TurboTax Free Edition ($0 Federal + $0 State + $0 To File) is available for those filing Simple Form 1040 returns only (no forms or schedules except for the Earned Income Tax Credit, Child Tax Credit and student loan interest), as detailed in the TurboTax Free Edition disclosures. Roughly 37% of taxpayers qualify. Offer may change or end at any time without notice.

  • TurboTax Live Assisted Basic Offer: Offer only available with TurboTax Live Assisted Basic and for those filing Form 1040 and limited credits only. Roughly 37% of taxpayers qualify. Must file between November 29, 2023 and March 31, 2024 to be eligible for the offer. Includes state(s) and one (1) federal tax filing. Intuit reserves the right to modify or terminate this TurboTax Live Assisted Basic Offer at any time for any reason in its sole and absolute discretion. If you add services, your service fees will be adjusted accordingly. If you file after 11:59pm EST, March 31, 2024, you will be charged the then-current list price for TurboTax Live Assisted Basic and state tax filing is an additional fee. See current prices here.

  • Full Service $100 Back Offer: Credit applies only to federal filing fees for TurboTax Full Service and not returns filed using other TurboTax products or returns filed by Intuit TurboTax Verified Pros. Excludes TurboTax Live Full Service Business and TurboTax Canada products. Credit does not apply to state tax filing fees or other additional services. If federal filing fees are less than $100, the remaining credit will be provided via electronic gift card. Intuit reserves the right to modify or terminate this offer at any time for any reason in its sole discretion. Must file by April 15, 2024 11:59 PM ET.

  • TurboTax Full Service - Forms-Based Pricing: “Starting at” pricing represents the base price for one federal return (includes one W-2 and one Form 1040). Final price may vary based on your actual tax situation and forms used or included with your return. Price estimates are provided prior to a tax expert starting work on your taxes. Estimates are based on initial information you provide about your tax situation, including forms you upload to assist your expert in preparing your tax return and forms or schedules we think you’ll need to file based on what you tell us about your tax situation. Final price is determined at the time of print or electronic filing and may vary based on your actual tax situation, forms used to prepare your return, and forms or schedules included in your individual return. Prices are subject to change without notice and may impact your final price. If you decide to leave Full Service and work with an independent Intuit TurboTax Verified Pro, your Pro will provide information about their individual pricing and a separate estimate when you connect with them.

  • Pays for itself (TurboTax Premium, formerly Self-Employed): Estimates based on deductible business expenses calculated at the self-employment tax income rate (15.3%) for tax year 2022. Actual results will vary based on your tax situation.

TURBOTAX ONLINE/MOBILE

  • Anytime, anywhere: Internet access required; standard data rates apply to download and use mobile app.

  • Fastest refund possible: Fastest tax refund with e-file and direct deposit; tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.

  • Get your tax refund up to 5 days early: Individual taxes only. When it’s time to file, have your tax refund direct deposited with Credit Karma Money™, and you could receive your funds up to 5 days early. If you choose to pay your tax preparation fee with TurboTax using your federal tax refund or if you choose to take the Refund Advance loan, you will not be eligible to receive your refund up to 5 days early. 5-day early program may change or discontinue at any time. Up to 5 days early access to your federal tax refund is compared to standard tax refund electronic deposit and is dependent on and subject to IRS submitting refund information to the bank before release date. IRS may not submit refund information early.

  • For Credit Karma Money (checking account): Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply per account.
  • Fees: Third-party fees may apply. Please see Credit Karma Money Account Terms & Disclosures for more information.

  • Pay for TurboTax out of your federal refund or state refund (if applicable): Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 Refund Processing Service fee may apply to this payment method. Prices are subject to change without notice.

  • TurboTax Help and Support: Access to a TurboTax product specialist is included with TurboTax Deluxe, Premium, TurboTax Live Assisted and TurboTax Live Full Service; not included with Free Edition (but is available as an upgrade). TurboTax specialists are available to provide general customer help and support using the TurboTax product. Services, areas of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice. Limitations apply See Terms of Service for details.
  • Tax Advice, Expert Review and TurboTax Live: Access to tax advice and Expert Review (the ability to have a Tax Expert review and/or sign your tax return) is included with TurboTax Live Assisted or as an upgrade from another version, and available through December 31, 2024. Intuit will assign you a tax expert based on availability. Tax expert and CPA availability may be limited. Some tax topics or situations may not be included as part of this service, which shall be determined in the tax expert’s sole discretion. For the TurboTax Live Assisted product, if your return requires a significant level of tax advice or actual preparation, the tax expert may be required to sign as the preparer at which point they will assume primary responsibility for the preparation of your return. For the TurboTax Live Full Service product: Handoff tax preparation by uploading your tax documents, getting matched with an expert, and meeting with an expert in real time. The tax expert will sign your return as a preparer. The ability to retain the same expert preparer in subsequent years will be based on an expert’s choice to continue employment with Intuit. Administrative services may be provided by assistants to the tax expert. On-screen help is available on a desktop, laptop or the TurboTax mobile app. Unlimited access to TurboTax Live tax experts refers to an unlimited quantity of contacts available to each customer, but does not refer to hours of operation or service coverage. Service, area of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice.

  • TurboTax Live Full Service – Qualification for Offer: Depending on your tax situation, you may be asked to answer additional questions to determine your qualification for the Full Service offer. Certain complicated tax situations will require an additional fee, and some will not qualify for the Full Service offering. These situations may include but are not limited to multiple sources of business income, large amounts of cryptocurrency transactions, taxable foreign assets and/or significant foreign investment income. Offer details subject to change at any time without notice. Intuit, in its sole discretion and at any time, may determine that certain tax topics, forms and/or situations are not included as part of TurboTax Live Full Service. Intuit reserves the right to refuse to prepare a tax return for any reason in its sole discretion. Additional limitations apply. See Terms of Service for details.

  • TurboTax Live Full Service - File your taxes as soon as today: TurboTax Full Service Experts are available to prepare 2023 tax returns starting January 8, 2024. Based on completion time for the majority of customers and may vary based on expert availability. The tax preparation assistant will validate the customer’s tax situation during the welcome call and review uploaded documents to assess readiness. All tax forms and documents must be ready and uploaded by the customer for the tax preparation assistant to refer the customer to an available expert for live tax preparation.

  • TurboTax Live Full Service -- Verified Pro -- “Local” and “In-Person”: Not all feature combinations are available for all locations. "Local" experts are defined as being located within the same state as the consumer’s zip code for virtual meetings. "Local" Pros for the purpose of in-person meetings are defined as being located within 50 miles of the consumer's zip code. In-person meetings with local Pros are available on a limited basis in some locations, but not available in all States or locations. Not all pros provide in-person services.

  • Smart Insights: Individual taxes only. Included with TurboTax Deluxe, Premium, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits, and is available through 11/1/2024. Terms and conditions may vary and are subject to change without notice.

  • My Docs features: Included with TurboTax Deluxe, Premium TurboTax Live, TurboTax Live Full Service, or with PLUS benefits and is available through 12/31/2025. Terms and conditions may vary and are subject to change without notice.

  • Tax Return Access: Included with all TurboTax Free Edition, Deluxe, Premium, TurboTax Live, TurboTax Live Full Service customers and access to up to the prior seven years of tax returns we have on file for you is available through 12/31/2025. Terms and conditions may vary and are subject to change without notice.

  • Easy Online Amend: Individual taxes only. Included with TurboTax Deluxe, Premium, TurboTax Live, TurboTax Live Full Service, or with PLUS benefits. Make changes to your 2023 tax return online for up to 3 years after it has been filed and accepted by the IRS through 10/31/2026. Terms and conditions may vary and are subject to change without notice. For TurboTax Live Full Service, your tax expert will amend your 2023 tax return for you through 11/15/2024. After 11/15/2024, TurboTax Live Full Service customers will be able to amend their 2023 tax return themselves using the Easy Online Amend process described above.

  • #1 best-selling tax software: Based on aggregated sales data for all tax year 2022 TurboTax products.

  • #1 online tax filing solution for self-employed: Based upon IRS Sole Proprietor data as of 2023, tax year 2022. Self-Employed defined as a return with a Schedule C tax form. Online competitor data is extrapolated from press releases and SEC filings. “Online” is defined as an individual income tax DIY return (non-preparer signed) that was prepared online & either e-filed or printed, not including returns prepared through desktop software or FFA prepared returns, 2022.

  • CompleteCheck: Covered under the TurboTax accurate calculations and maximum refund guarantees. Limitations apply. See Terms of Service for details.
  • TurboTax Premium Pricing Comparison: Cost savings based on a comparison of TurboTax product prices to average prices set forth in the 2020-2021 NSA Fees-Acct-Tax Practices Survey Report.

  • 1099-K Snap and Autofill: Available in mobile app and mobile web only.

  • 1099-NEC Snap and Autofill: Available in TurboTax Premium (formerly Self-Employed) and TurboTax Live Assisted Premium (formerly Self-Employed). Available in mobile app only. Feature available within Schedule C tax form for TurboTax filers with 1099-NEC income.

  • Year-Round Tax Estimator: Available in TurboTax Premium (formerly Self-Employed) and TurboTax Live Assisted Premium (formerly Self-Employed). This product feature is only available after you finish and file in a self-employed TurboTax product.

  • **Refer a Friend: Rewards good for up to 20 friends, or $500 - see official terms and conditions for more details.

  • Refer your Expert (Intuit’s own experts): Rewards good for up to 20 referrals, or $500 - see official terms and conditions for more details.

  • Refer your Expert (TurboTax Verified Independent Pro): Rewards good for up to 20 referrals, or $500 - see official terms and conditions for more details.

  • Average Refund Amount: Sum of $3140 is the average refund American taxpayers received based upon IRS data date ending 2/17/23 and may not reflect actual refund amount received.

  • Average Deduction Amount: Based on the average amount of deductions/expenses found by TurboTax Self Employed customers who filed expenses on Schedule C in Tax Year 2022 and may not reflect actual deductions found.

  • More self-employed deductions based on the median amount of expenses found by TurboTax Premium (formerly Self Employed) customers who synced accounts, imported and categorized transactions compared to manual entry. Individual results may vary.

  • TurboTax Online Business Products: For TurboTax Live Assisted Business and TurboTax Full Service Business, we currently don’t support the following tax situations: C-Corps (Form 1120-C), Trust/Estates (Form 1041), Multiple state filings, Tax Exempt Entities/Non-Profits, Entities electing to be treated as a C-Corp, Schedule C Sole proprietorship, Payroll, Sales tax, Quarterly filings, and Foreign Income. TurboTax Live Assisted Business is currently available only in AK, AZ, CA, CO, CT, DE, FL, GA, IL, KS, MA, MD, ME, MI, MN, MO, NC, NJ, NV, NY, OH, PA, RI, SD, TN, TX, UT, VA, WA, WV and WY.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/ for service terms and conditions. 

TURBOTAX DESKTOP GUARANTEES

TurboTax Desktop Individual Returns:

  • 100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. Excludes payment plans. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state software license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Audit Support Guarantee – Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2024 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax Desktop for the current 2024 tax year and, for individual, non-business returns, for the past two tax years (2022, 2023). Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TurboTax Desktop Business Returns:

  • 100% Accurate Calculations Guarantee – Business Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we’ll pay you the penalty and interest. Excludes payment plans. You are responsible for paying any additional tax liability you may owe. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Tax Savings Guarantee - Business Returns: If you get a smaller tax due (or larger business tax refund) from another tax preparation method using the same data, TurboTax will refund the applicable TurboTax Business Desktop license purchase price you paid. Additional terms and limitations apply. See License Agreement for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TURBOTAX DESKTOP DISCLAIMERS

  • Installation Requirements: Product download, installation and activation requires an Intuit Account and internet connection. Product limited to one account per license code. You must accept the TurboTax License Agreement to use this product. Not for use by paid preparers.

  • TurboTax Desktop Products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for e-filing state returns. E-file fees may not apply in certain states, check here for details. Savings and price comparison based on anticipated price increase. Software updates and optional online features require internet connection. Desktop add-on products and services purchased are non-refundable.

  • Fastest Refund Possible: Get your tax refund from the IRS as fast as possible by e-filing and choosing to receive your refund by direct deposit. Tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.

  • Average Refund Amount: $3,207 is the average refund amount American taxpayers received in the 2024 filing season based upon IRS data as of February 16, 2024 and may not reflect actual refund amount received.

  • TurboTax Technical Support: Customer service and technical support hours and options vary by time of year.

  • Deduct From Your Federal Refund: Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 Refund Processing Service fee applies to this payment. method. Prices are subject to change without notice.

  • Data Import: Imports financial data from participating companies; Requires Intuit Account. Quicken and QuickBooks import not available with TurboTax installed on a Mac. Imports from Quicken (2022 and higher) and QuickBooks Desktop (2023 and higher); both Windows only. Quicken import not available for TurboTax Desktop Business. Quicken products provided by Quicken Inc., Quicken import subject to change.

  • Live Tax Advice: Access to tax experts to obtain answers to tax questions and to assist with tax year 2024 return(s) prepared with TurboTax Desktop software. Additional fees apply. Must be purchased and used by October 31, 2025. Excludes TurboTax Desktop Business. See License Agreement for details.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/for service terms and conditions.

All features, services, support, prices, offers, terms and conditions are subject to change without notice.

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