Top TurboTax Discounts, January 2025 (incl. Coinbase)

Whether you’re filing as an individual, small business owner, or cryptocurrency trader, there are several ways to save money on TurboTax services this January 2025. Let’s dive into the top TurboTax discounts available this month, as well as how Coinbase customers can take advantage of these deals to streamline their tax filings and maximize their savings.

Extra 10% Off TurboTax Online Federal Products (for up to 50% off!)

One of the top deals on TurboTax this month is their EXTRA 10% off discount on federal online products that are already discounted as part of their early -season sale (total savings at up to 50% off!) . This promotion is available across all service tiers, allowing you to choose the one that best fits your tax preparation needs. Here’s a breakdown of the options:

  • Do-It-Yourself Versions: Perfect for individuals who feel confident filing their taxes independently with the help of TurboTax’s intuitive software.
  • Live Assisted Versions: Ideal if you want occasional help from tax experts who can answer questions and guide you through the process.
  • Full Service Versions: Best for those who prefer to hand over their tax responsibilities entirely to a professional team, letting TurboTax handle the entire filing process.

The 10% discount applies to all these tiers and is valid through January 31, 2025. This gives you plenty of time to take advantage of the deal and start preparing your taxes early.

50% Off QuickBooks Solopreneur (with Live Assisted Tax)

For freelancers and small business owners, TurboTax’s partnership with QuickBooks offers significant savings. New QuickBooks customers can get 50% off the first three months of the QuickBooks Solopreneur plan, reducing the cost from $20 per month to just $10 per month. This subscription includes QuickBooks Live Assisted Tax, a service tailored for self-employed individuals filing a Schedule C (Form 1040).

Key benefits of QuickBooks Live Assisted Tax include:

  • Unlimited access to tax experts who can help maximize deductions and ensure accuracy.
  • Seamless integration with QuickBooks, giving TurboTax’s experts access to your financial data to streamline tax preparation.
  • Personalized advice to uncover industry-specific tax credits and deductions.
  • A 100% Accurate, Expert Approved Guarantee.
  • On-demand audit support, providing one-on-one guidance if you’re audited.

This ongoing deal is a great option for those looking to simplify their bookkeeping and tax filing processes while saving money. However, it’s only available to new QuickBooks customers, so now’s the time to act if you’re considering this solution.

TurboTax Free Edition

If you have a simple tax return, TurboTax’s Free Edition might be all you need. This option allows you to file both federal and state taxes at no cost. Here’s what qualifies as a simple return:

  • Filing a basic Form 1040.
  • Limited credits, such as the Earned Income Tax Credit, Child Tax Credit, and Student Loan Interest Deduction.
  • No additional schedules or complex tax situations.

However, it’s important to note that only about 37% of taxpayers qualify for the Free Edition. If your tax situation involves owning a business, significant investment income, or other complexities, you’ll need to upgrade to a paid TurboTax plan.

Special Offers for Coinbase Customers

Coinbase customers can enjoy exclusive benefits when using TurboTax this tax season. The partnership between Coinbase and TurboTax offers discounts and tools specifically designed for cryptocurrency users, making it easier to report crypto transactions and comply with tax regulations. Here’s what Coinbase customers need to know:

10-20% Discount on TurboTax Premium

Coinbase users can receive a 10-20% discount on TurboTax Premium federal products. This edition is equipped to handle cryptocurrency reporting, making it ideal for users who have sold, traded, or earned cryptocurrency in 2024.

TurboTax Premium supports:

  • Cryptocurrency trading, including buying and selling.
  • Staking rewards and mining income.
  • Other investment-related income and deductions.

If you’ve been active in the crypto space, TurboTax Premium is likely the best option to help you file accurately and maximize deductions.

How to Access the Discount

To take advantage of the Coinbase-TurboTax partnership, keep an eye on your Coinbase account or emails for promotional codes or links. These are typically shared during tax season and can also be found in the Coinbase blog or help center. Be sure to apply the discount code when filing with TurboTax to see the savings reflected in your total.

Simplifying Crypto Tax Reporting

Filing taxes as a cryptocurrency user can be tricky, but TurboTax’s 2025 integration with Coinbase makes the process much smoother. Here are some ways Coinbase customers can streamline their tax filings with TurboTax:

  1. Upload Transactions Easily: TurboTax Premier allows Coinbase users to upload up to 250 cryptocurrency transactions at once using a compatible .csv file. This eliminates the need for manual data entry and ensures accuracy.
  2. Identify Tax-Saving Opportunities: TurboTax’s tools can help you identify deductions such as capital loss offsets, which can reduce your overall tax liability.
  3. Expert Guidance: With TurboTax Premium, you’ll have access to features designed for complex tax situations, including cryptocurrency investments. This includes personalized advice from tax professionals.
  4. Avoid Errors and Penalties: Accurate reporting reduces the risk of errors, audits, and potential penalties. TurboTax’s integration with Coinbase ensures all your transactions are accounted for properly.

Additional Benefits for Coinbase Users

In addition to the TurboTax discount, Coinbase customers can leverage other features and partnerships to save money and simplify their tax filings:

  • Direct Deposit of Tax Refunds: Coinbase allows users to deposit their tax refunds directly into their Coinbase accounts. This feature eliminates the need for intermediary transfers, potentially saving on transaction fees.
  • Access to Other Tax Tools: Coinbase partners with tax reporting tools like CoinTracker, which offers free tax reporting for up to 100 transactions and a 10% discount on paid plans. These tools can help consolidate crypto transactions across multiple platforms, ensuring comprehensive reporting.

Tips for Staying Secure During Tax Season

Tax season is a prime time for phishing scams, particularly for cryptocurrency users. Follow these tips to protect yourself:

  • Verify Links and Emails: Only access your Coinbase account directly through the app or official website. Be cautious of emails or links claiming to offer TurboTax discounts but leading to fake sites.
  • Enable Two-Factor Authentication (2FA): Secure your accounts by enabling 2FA on both Coinbase and TurboTax.
  • Monitor Your Transactions: Regularly review your Coinbase transaction history to ensure all activity is legitimate.

Maximizing Savings with TurboTax and Coinbase

Here’s a quick summary of how Coinbase customers can save money and simplify their tax filings with TurboTax 2025:

  1. Take Advantage of Discounts: Use the 10-20% TurboTax Premium discount available through Coinbase to reduce your filing costs.
  2. Streamline Crypto Reporting: Upload up to 250 transactions at once with TurboTax Premier’s Coinbase integration.
  3. Optimize Refunds: Identify deductions and credits to maximize your refund or minimize your tax liability.
  4. Deposit Refunds into Coinbase: Save on transaction fees and invest your tax refund directly into cryptocurrencies.

Final Thoughts

Tax season doesn’t have to be stressful, especially if you’re a Coinbase customer leveraging TurboTax’s discounts and tools. From simplifying crypto tax reporting to maximizing deductions, these offers provide significant value to both novice and experienced taxpayers. Be sure to act before the January 31, 2025, deadline to take full advantage of these savings.