TurboTax for college students: Did you know that TurboTax has a special version of their software just for students? It’s true, and they specialize in helping students get their maximum tax refund.
In fact, TurboTax will check to see if you qualify for up to $1000 of education credits and tax deductions including your student loans. If you have simple taxes, you might even be able to file free!
Click below for the TurboTax student discount, or check out these tax tips for students:
TurboTax for Students:
If you are a college student, TurboTax might just be the perfect software choice to file your federal and state taxes.
Why? Because they have a special education credits and deduction finder to make sure you get your maximum tax refund.
Interested? Learn what eduction credits and tax deductions you can claim on your tax return by using TurboTax for students.
Can Students File Taxes for Free?
The short answer to that question is “yes,” if you have simple taxes. Turbo Tax begins the filing process with a few questions to help determine which edition of their software is best for you.
For example, if you have very little income and live in a college dorm, you can probably use the free version of their software.
If you are an Uber driver, work part time, and have income from investments, then your taxes are not so simple. In that case, TurboTax may suggest that you use their Self-Employed edition (which costs more) to maximize potential deductions.
So, can you use the free edition for students? Click here to find out now.
3 Tax Tips for Students (from TurboTax)
1. The Lifetime Learning tax credit – Students
Students will find that the The Lifetime Learning tax credit is the most easy to qualify for, giving you up to a $2000 tax credit towards school expenses including tuition and books. To qualify for this tax credit, you’ll just need to show proof that you attended at lease 1 class during the year.
2. The American Opportunity Tax credit – College Students:
As a student, The American Opportunity tax credit can give you up to $2500 tax credit for tuition, books, and supplies that you spent money on in the first four years of pursuing a college degree.
Don’t owe the IRS money? Great; you might be eligible for a tax refund check for 40% of the tax credits that you quality for! You can use the TurboTax Student Edition for your maximum tax refund, and free Federal efile with every edition.
3. International Student Tax Credits / Deductions
Are you an international student? As an international student, or non-US resident, you might be required to file a 1040NR. TurboTax can walk you through that as well to ensure you don’t miss any tax deductions and get your maximum refund.
Unfortunately TurboTax doesn’t support form 1040NR for nonresident aliens, but does partner with a company called, “Sprintax” who does. Learn more
Not eligible for these Student Tax Credits?
Not a problem! As a college student you may still qualify for a tax deduction of up to $4k, even if you get grants, loans, or a scholarship. Check out the link to the Student Edition of TurboTax above, or their free version for simple tax returns, consistently ranked as the best free tax software.
*Related: Students: Understanding Taxes: IRS.gov