We will all agree that 2020 has been a year like no other! And we are also in agreement that tax time doesn’t need to complicated either. If you happen to find yourself with a few Tslips and nothing more to declare, your best option is to do it FREE.
How do I do my taxes with TurboTax online FREE?
Top right corner of the page you will see a “Sign In” icon, click on it into your online account, if you don’t already have one, you will have to create a new account.
Alternately, you can also start on this link, which will bring you to one of the images below(If you have never used TurboTax before, you will have to “Create an account” and if you already have an account then you use “Sign In”.
Signed in, click on “Start a new return”.
You will get a screen that may or may not show based on if you have already started returns in your account. If you have, simply click on “Create a different return”.
Which brings you to this screen. Check the appropriate situation and click on FREE
Make sure you choose FREE
You will be asked a few simple questions and based on your answers, the software will open up the correct forms, to assist you through each step. If you are unsure of the question, there are certain words that are in “blue” (this means you can click on it and it will provide you with more information). Alternately, the best practice is to hit “yes” and see what options the questions open up for you. The software is designed to provide the user with an optimum easy flow choice. At the end of your tax return, just before NETFILE, you will be asked to review certain areas on your tax return to ensure all the information is correct before you proceed to NETFILE. Simply hit “continue” once you have answered the question and it will open a new section of questions that are relevant to the process of tax filing, it is creating your “profile” which tells the software what to do next. “Profile Complete”, time to start your tax return. Easy peasy! You may say, “why is it asking me this question?” It’s asking you that question because for tax purposes, you need to answer it to ensure your claiming all the credits and deductions you are entitled to have.
After getting through the series of questions to help the software know what it needs to open, you will find new things happening this year. We have new credits available this year, which include Canada Training Credit and the Digital Subscription Tax Credit, and a few provincial changes as well that will be noted.
You will get to the Auto-fill section and determine if you want to use the free service or if you want to input your Tslips manually. Either way, it’s all good, although one is much quicker than the other.
You are now ready to enter in your Tslips. On the right side of the screen in the black area you have a list of information now. Starting with the top in “green” amount of most likely in the $300 mark, depending on the province you are in, this is for the CAI (Climate Action Incentive Credit). If there is no amount it’s because your province doesn’t support the federally funded credit.
Using our Find tool at the top right corner of the screen, you will type in the specific form you have in your hands.
Or hit the “Add” button to open it.
When entering your T4 there will be an added check to apply due to COVID
For all other COVID related questions, click on this link from TurboTax .
You will then be asked to do a “Review” of your tax return before we help you NETFILE, to make sure you get all the credits and deductions you deserve.
Just before you get to the NETFILE screen, we want to review your order. Hit “Start”
When we say it’s FREE, it’s FREE, FREE, FREE !!
“Continue” and “start” the NETFILE process
You have successfully NETFILED your tax return, when you receive a confirmation number to confirm the transmission to the CRA.
It’s Easy Peasy!! TurboTax, we’ve always got you covered!