The cost to file taxes with TaxAct varies depending on the complexity of your tax situation and the specific services you require. For filers with more involved financial scenarios, such as those involving investments or rental properties, TaxAct's Premier option provides a clear pricing structure.
Here's a breakdown of the costs for the Premier option:
| Filing Type | Cost (Premier Option) |
|---|---|
| Federal Tax Filing | $49.99 |
| State Tax Filing | $39.99 (per state) |
Understanding the TaxAct Premier Option
The TaxAct Premier option is designed to cater to taxpayers with more complex financial situations than a simple W-2 income. This tier is priced at $49.99 for federal tax filing. If you also need to file a state tax return, an additional $39.99 will be charged for each state return filed using the Premier version. For instance, if you file both federal and one state return under this plan, your total cost would be $49.99 + $39.99 = $89.98.
This option covers several specific income and asset types that require more detailed reporting, making it suitable for a range of taxpayers.
What the Premier Option Covers
The TaxAct Premier option is specifically structured to assist with detailed and potentially complex tax scenarios, providing comprehensive support for various income streams and asset transactions. This includes, but is not limited to:
- Home Sales: If you've sold your home during the tax year, the Premier option helps you navigate the related tax implications and reporting requirements.
- Investment Sales: For individuals who have engaged in buying or selling stocks, bonds, mutual funds, or other investment assets, this tier covers the necessary reporting for capital gains or losses.
- Cryptocurrency Sales: Given the growing popularity of digital assets, the Premier option also addresses the tax reporting for income or losses derived from cryptocurrency transactions.
- Rental Property Income: Landlords and property owners reporting income and expenses from rental properties will find the Premier option equipped to handle the specific forms and calculations required.
Comparative Pricing Advantages
TaxAct is often recognized for its competitive pricing in the tax preparation software market. Historically, its prices have been lower than those of major competitors like Intuit TurboTax and H&R Block, particularly for options covering more complex tax situations. This makes TaxAct a potentially more affordable choice for taxpayers seeking comprehensive features without the higher price tag associated with other well-known brands.
