Those eligible for free filing will be able to file both federal and state income tax returns at no cost. Credits, deductions, and income reported on Schedules 1-3.Unemployment compensation reported on a 1099-G.
“Many members with simple returns, meaning those only filing Form 1040, will be able to enjoy free tax filing with TurboTax within the Credit Karma app from start to finish,” Damany said, “while others may only be eligible for certain offers and discounts.”Īccording to the TurboTax website, some situations not eligible for free filing with TurboTax include: According to Poulomi Damany, general manager of assets and tax at Credit Karma, the embedded TurboTax experience will only be available to Credit Karma members who haven’t previously filed tax returns with CKT as those members were part of Square’s acquisition of CKT.Īlso, while Damany said Credit Karma aims to provide free tax filing to as many members as possible, it won’t be available to all tax situations. New filers and those that used an alternative tax filing option in the past can start the tax filing process with TurboTax in the Credit Karma platform.Īll Credit Karma members won’t have access to free tax filing.
Members that filed with CKT in the past can use Cash App Taxes. Who Can File Their Taxes for Free With Credit Karma?Ĭredit Karma members have two paths for filing their taxes. In some cases, members will be able to file their taxes from start to finish for free.Īccording to a press release announcing the partnership, Credit Karma will also launch a new feature to provide its members who previously filed their taxes with TurboTax with ongoing insights into their finances, income, and taxes-including getting an estimate of their tax refund. The embedded TurboTax product will have the same look and feel as TurboTax but will be housed within the Credit Karma platform. can begin filing their taxes with TurboTax within the Credit Karma app. Through an embedded tax filing experience, Credit Karma members in the U.S. Now that Credit Karma and TurboTax operate under the same Intuit umbrella, the two companies hope to provide an integrated tax filing experience to Credit Karma members in the U.S., starting in January 2022.
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Credit Karma’s Partnership With TurboTaxĬredit Karma’s DIY tax software used to compete with TurboTax. Previous CKT users will be able to access prior year returns and file tax returns via Cash App Taxes starting in January 2022. Square announced it would integrate Credit Karma Tax into its Cash App platform. Justice Department (DOJ) after the DOJ filed a civil antitrust lawsuit to block Intuit’s acquisition of Credit Karma. The sale was part of a proposed settlement with the U.S. On intuit's Website What Happened to Credit Karma Tax?Īt the end of 2020, Credit Karma sold its free do-it-yourself tax preparation platform, Credit Karma Tax, to Square, Inc.
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