There is two main tax software as we all know. That’s TurboTax and H&R Block which both offer lots of solutions when the tax season comes to file your taxes. Both services provide free filing but the H&R Block’s free version includes more.
While the free version of TurboTax allows you to file a state return and 1040, you can’t itemize or file new Schedules 1 to 6 but the H&R Block’s free version gives you access Schedule 1 through 6, so you can itemize your deductions. So if you’re not going to claim any deductions or credits other than the standard deduction, which is $12,400 for taxes due in April 2020, TurboTax Free will be enough.
On the other hand, you can file your taxes while itemizing your deductions using H&R Block free.
Cheapest Tax Software 2020
Both tax software offer estimators where you can have a glimpse of your tax refund and the amount you owe to the IRS by calculating based on the answers you give. While these are free, if you’re just getting started with filing your taxes we strongly recommend purchasing a package where you will be able to file your taxes through either TurboTax or H&R Block.
H&R Block Prices
TurboTax has three packages. The prices range from $49.99 to $104.99. If you want, you add a human ”Tax Pro Review” which will cost around $80 to $100. In addition to these, you can purchase a standalone product for $120. Adding a state return to this will cost an additional $40 for each.
TurboTax, on the other hand, offers four paid packages ranging from $60 to $120. Adding a human review to it will cost an additional $60 to $70 depending on which package you choose. You can add a state return for $35 if you purchased TurboTax Live Basic and $45 for other paid versions.
In conclusion, both have their pros and cons but if you’re looking for a more affordable alternative and just getting started with your taxes, H&R Block is the right fit for you.