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I have used TurboTax for many, many years now. I even have my kids using the TurboTax federal free edition!
If you have a child in college (or maybe yourself!?) it is super important that you get your taxes filed ASAP so that you can complete the FAFSA.
Even further, be sure that you get the 1098-T form from the college where you, or your child, attend so that you can complete your taxes. Both my school and my son’s both have their forms available now, but I know that there deadline is mid-February. Be sure to check with them to be sure.
If you got any aid, that form is important.
A few of the things that are deductible for your/ your college childs’ college fees are tuition, student center fees, registration fees, activity fees and any other required fees that relate to actual classes.
Books, materials and lab equipment are a tax deduction so be sure to pull out those receipts and deduct that expense. Trust me! I know how expensive college textbooks can be. (Here is a post I wrote about how to save money on college textbooks).
Things that I am just finding out that are NOT deductible are room and board. Waaah. This is a huge expense for me because J goes to school so far away, he has to live in the dorms. Not to mention that freshman are required to live on campus. Bummer.
A laptop or a computer is deductible, but ONLY if the school has required the student to buy one.
I know that all of this sounds a little bit scary but the most awesome thing about using TurboTax is that TurboTax figures it all out for you. All you have to do is have your tax forms and receipts in order. TurboTax wants to help you get the biggest refund possible so they ask you super simple questions and give very easy prompts for you to follow.
Even when there are still questions in your mind about what something they are asking means, they have prompts that you can click on to give even more information.
Don’t put it off, file with TurboTax Federal Free Edition today.