How To Get TurboTax for Free From Fidelity (2021–2022 Software)

Someone asks:

Has anyone received a link for the free TurboTax 2021 in their Fidelity account? Thank You!

Meet the following requirements for a free copy of TurboTax

Fidelity will offer its client a free copy of the TurboTax 2021 software when meeting one of the following requirements.

  • Customers of Premium Services with over $250,000
  • Private Client Group customers (> $1m in assets at Fidelity, not all 401(k))

Fidelity customers who do not meet the requirement can still get TurboTax for cheaper. You’ll get up to $20 off TurboTax federal products: TurboTax Online, TurboTax Live, and TurboTax desktop downloads.

Comments

Pete D:

Seems kinda pointless to me - most millionaires are going to need a CPA, not an off the shelf product. Why not give it to the ones who’d actually use it?

William H:

Fidelity does a poor job of providing useful information regarding the free version of TurboTax for its clients. When I log into my account I receive a notice that I am eligible for TurboTax Premier version free. There is no detailed information regarding preparing my taxes online only or downloading the program, preparing my taxes (my preferred method), and then e-filing them. I asked my Fidelity FA and he didn’t know the answer either. So I bought the TurboTax CD at Costco for a discount and prepared my taxes the usual way.

James S:

Yes! Fidelity let me do my taxes on turbo tax for free! I was going to do it on turbo tax any way but getting it for free was a huge plus!

Lakis L:

Quick question regarding taxes for people using TurboTax, if anyone can help. I was able to upload my tax forms directly from TurboTax without any issues, but I am stuck when it comes to the review part of my taxes. On my Federal return, there is an issue with the 1099 B Worksheet. I have some small amounts of disallowed wash sale losses, but in the box that I am allowed to put in what the amount is, TurboTax won’t let me put in the actual number. For example, I have a disallowed loss of .04 on one sale, but in the box it will only allow whole numbers. I even rounded up to see if that would make a difference but it still gives me an issue when I go to file. Anyone have this issue if using TurboTax? I do not feel like filing by mail if I can’t figure this out. Thank you

James S:

FIDELITY IS AWESOME!! TIP FOR EVERYONE DOING taxes with turbo tax!! When someone had made a post about how much everyone’s accounts performed so far Year to Date I started exploring around fidelity and on the summary page for my portfolio investments I scrolled all the way to the bottom and found this link for turbo tax saying I could do my taxes for FREE! I was going to do my taxes with Turbo tax anyway but now I get what I was going to pay for anyhow for FREE! I am very happy about this.

Can’t believe the misinformation in the replies here. Plenty of people who qualify for this offer do their own taxes, even if we are “millionaires”. And I’m not sure why Fidelity should have been expected to explain how to use the TurboTax site once you got there. And FYI, you actually could have gotten the download version for free. You just needed to go to the menu at the top of the page and select Download/CD products, and you would have been able to “purchase” the download version of Premier for free. Also, I believe that Premium Services is $500k, not $250k. And customers who are part of the Active Trader Pro program qualify for free TT. Details are on the Fidelity website – Active Trader: Compare Trading Service Levels - Fidelity

Here’s the fine print from that page:

Certain covered clients: Private Wealth Management (PWM) client and owns one or more nonretirement account(s) or PCG, Premium, and ATS clients with minimum assets of either: PWI assets of $1,000,000 or more and PI assets of at least $500,000 and own one or more nonretirement account or Nonretirement assets $1,000,000 or more. Applies to Federal returns and one state return only. Cost of additional state returns are the responsibility of the client.