TurboTax costs between $0 and $559 depending on which version you choose and how complex your return is

TurboTax offers five main versions, each priced differently. The Free Edition costs nothing if your income is below a certain threshold (usually around $73,000 for 2024, though this changes yearly). The paid versions — Deluxe, Premier, Self-Employed, and Live — range from roughly $120 to $559 for federal return preparation. State return filing costs extra, typically $40 to $60 per state. The version you need depends on what's on your return: whether you have investments, rental income, a business, or just wages and standard deductions.

Intuit (the company behind TurboTax) adjusts prices annually and runs frequent discounts, especially during tax season. The prices listed here are typical starting points, not guarantees. You should check the current year's pricing on TurboTax's website before you buy, because promotional pricing and bundle deals change week to week.

Key Takeaways

  • TurboTax Free Edition is genuinely free for straightforward returns with wages, standard deductions, and income under the annual threshold, with no hidden charges for federal filing.
  • Deluxe ($120–$180) covers most household returns with investments, charitable donations, and education credits.
  • Premier ($200–$280) adds rental property, capital gains, and passive income support.
  • Self-Employed ($240–$320) is built for business owners and includes Schedule C and quarterly estimated tax tools.
  • State return filing costs $40–$60 per state on top of the federal version price, and you can file federal for free while paying for a state return.

The Five TurboTax Versions and What They Cost

Free Edition is available to anyone whose income falls below the IRS threshold for that year. You file your federal return at no cost. The catch: if your income exceeds the limit, you cannot use this version — TurboTax will not let you proceed. This is not a trial; it is a full federal return with no upsells. You still pay for state filing if you need it.

Deluxe starts around $120 to $180 for federal. It covers W-2 wages, investment income (dividends and capital gains), education credits, child tax credits, and charitable donations. This is the most common choice for households with a job, a brokerage account, and standard deductions.

Premier runs $200 to $280 and adds rental property income, passive losses, and more complex investment scenarios. If you own a rental or have K-1 income from a partnership, you need at least this version.

Self-Employed costs $240 to $320 and is designed for people with a business, side gig, or Schedule C income. It includes quarterly estimated tax worksheets and business expense tracking. If you are a sole proprietor or freelancer, this is your version.

Live is the premium tier at $500 to $559 and pairs the software with a CPA or tax professional who reviews your return before you file. This is not the same as having someone prepare your return from scratch — you still use the software, but a human checks your work.

State Return Costs and Bundle Pricing

Every TurboTax version requires a separate purchase for state return filing. A single state return costs $40 to $60; if you file in two states, you pay twice. Some people buy federal for free and then pay for one state return, which is a valid strategy if your income is under the Free Edition threshold but you owe state tax.

TurboTax occasionally bundles federal and state together at a discount, especially in February and March. Watch for promotions that bundle Deluxe Federal + State for a lower combined price than buying them separately. These deals are real but temporary, and comparing the bundle price to the à la carte total before you choose will save you money.

When You Might Pay More Than the Advertised Price

The advertised price is the federal return only. If you need a state return, add $40 to $60 per state. If you amend a prior year (Form 1040-X), some versions charge an additional fee, though TurboTax sometimes waives this during the tax year. If you use the Live version and the CPA finds errors that require a second review, clarify upfront whether that costs extra.

TurboTax also offers a "Deluxe + State" bundle and similar packages. These bundles are usually cheaper than buying federal and state separately, so always compare the bundle price to the à la carte total before you choose. Hidden costs are rare, but state filing and amendments are the two places where the final bill can exceed the initial quote.

How to Know Which Version You Actually Need

Start with your income sources. If you have only W-2 wages and take the standard deduction, Free Edition or Deluxe works. If you have investment income (stocks, bonds, mutual funds), move to Deluxe. If you own rental property or have partnership income, you need Premier. If you have a business or self-employment income, choose Self-Employed.

The software itself will ask you questions about your situation and may recommend an upgrade if your answers suggest you need a higher version. You can also start with a lower version and upgrade later if you realize you need more features — TurboTax will refund the difference if you upgrade within the same tax year. This flexibility means you do not have to guess correctly on your first choice.

Discounts and When to Buy

TurboTax runs discounts throughout tax season. Early-bird discounts (January and early February) often offer 20–30% off. Mid-season discounts are smaller. By April, discounts shrink or disappear. If you file in January or early February, you are more likely to find a promotional code that reduces the price by $20 to $60.

Costco, Sam's Club, and some banks offer bundled pricing on TurboTax if you are a member. These deals are sometimes better than TurboTax's own promotions, so check your membership benefits before you buy directly from TurboTax. The discount applies at checkout and is not a rebate, so you see the lower price when ready.

Comparing TurboTax to Other Software

TurboTax is not the only option. H&R Block and TaxAct offer similar versions at similar prices, though their free tiers have different income limits. FreeTaxUSA charges a flat $15 for federal (or free if you file before April 15) and $14.99 per state. ItsDeductible (now part of TurboTax) is free for charitable donation tracking.

If cost is your main concern, compare the free or low-cost options across all platforms for your specific situation. Some people find that H&R Block's free version covers their return when TurboTax's does not, or that FreeTaxUSA's flat fee is cheaper than TurboTax's version pricing. The best choice depends on your income, deductions, and state filing needs, not on brand alone.

Frequently Asked Questions

Can I use TurboTax Free if I have investment income?

No. TurboTax Free is only for straightforward returns with wages, standard deductions, and income below the annual threshold. Any investment income disqualifies you from Free Edition. You would need Deluxe or higher. However, you can start with Free, and TurboTax will tell you if you need to upgrade before you pay.

Do I have to pay for state filing if I only owe federal tax?

No. You can file federal only and skip state entirely. However, if you owe state tax, you must file a state return in that state — TurboTax cannot file it for you. The state filing cost is separate from federal and applies only if you choose to file through TurboTax.

What if I buy the wrong version?

TurboTax allows you to upgrade to a higher version and will credit the difference toward the new price. You cannot downgrade. If you realize mid-return that you need Premier instead of Deluxe, upgrade and pay only the difference.

Is TurboTax Live worth the extra cost?

TurboTax Live adds $300–$400 to the cost of the base version. It is worth it if you want a CPA to review your return before filing, or if your return is complex enough that you want professional eyes on it. If your return is straightforward, the base version is usually sufficient.

Do promotional codes actually work?

Yes. TurboTax publishes discount codes throughout tax season, and they typically reduce the price by 20–40% off the advertised rate. Check TurboTax's website, your email, and third-party coupon sites before you buy. The discount applies at checkout and is not a rebate.