Introduction
Credit Karma have announced that they will be offering free tax returns this year, you can currently sign up to reserve your spot. Up until this point Credit Karma’s business model has been to offer users access to a free credit score and other features, they then market credit offers (e.g credit cards) to their users and receive a commission for any sign ups.
This new tax return service will operate in the same way, in that there is no fee to use the service and they don’t require any credit card details on file. They have a fairly comprehensive F.A.Q that can be found here. You can also see what forms they support here.
Forms Supported
As mentioned above, the following are supported:
- Form 1040
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Schedule EIC
- Schedule F
- Schedule H
- Schedule J
- Schedule R
- Schedule SE
- Form W-2
- Form W-2G
- Form 1099-C
- Form 1099-R
- Form 1099-G
- Form 1099-INT
- Form 1099-DIV
- Form 1099-MISC
- Form 1099-SA
- Form RRB-1099
- Form SSA-1099
- Form 982
- Form 1116
- Form 1310
- Form 2106
- Form 2210
- Form 2441
- Form 3468
- Form 3800
- Form 3903
- Form 4136
- Form 4137
- Form 4562
- Form 4684
- Form 4797
- Form 4835
- Form 4868
- Form 4952
- Form 4972
- Form 5329
- Form 5405
- Form 5695
- Form 5884
- Form 6198
- Form 6251
- Form 6252
- Form 6478
- Form 6781
- Form 8283
- Form 8379
- Form 8396
- Form 8582
- Form 8586
- Form 8606
- Form 8615
- Form 8801
- Form 8812
- Form 8824
- Form 8829
- Form 8834
- Form 8839
- Form 8853
- Form 8859
- Form 8862
- Form 8863
- Form 8880
- Form 8888
- Form 8889
- Form 8910
- Form 8917
- Form 8919
- Form 8936
- Form 8941
- Form 8959
- Form 8960
- Form 8962
- Form 8965
- Form 9465
- Form 1040X
If you complete bank account bonuses, you should be pleased to see that 1099-INT forms are supported.
Our Verdict
Obviously it’s hard to judge how good this will actually be when it’s not currently available. One thing to remember is that when something is free, you’re usually the product. I think Credit Karma is the best out of the free credit monitoring services (e.g better than Credit Sesame/Quizzle) and they are continuing to add features like this.
Hat tip to reader Avi S
