Navigating tax season can feel like a daunting task, but with the right tools, it becomes significantly smoother. TurboTax is a popular choice for millions, offering a user-friendly interface to guide you through the complexities of tax preparation. Whether you're a first-time filer or a seasoned pro, starting a new return in TurboTax is a straightforward process.
Ready to tackle your taxes with confidence? Let's dive in!
This comprehensive guide will walk you through every step of starting a new return in TurboTax, ensuring you're set up for success and can maximize your refund or minimize your tax liability.
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| How To Start New Return Turbotax |
Step 1: Choosing Your TurboTax Path – Online or Desktop?
Before you even think about entering numbers, you need to decide which TurboTax platform suits your needs. This is a crucial first decision, as the experience differs slightly.
Sub-heading: TurboTax Online – Cloud-Based Convenience
What it is: The online version of TurboTax is web-based, meaning you access it through your internet browser. It's incredibly convenient as there's no software to install, and you can work on your taxes from any computer or mobile device with internet access. Your data is securely stored on TurboTax's servers.
When to choose it: This is ideal if you prefer the flexibility of working from different locations, don't want to install software, or have a fairly straightforward tax situation. Each TurboTax Online account is generally designed for one tax return per user ID. If you need to file for another person (like a family member), you'll typically need to create a new account with a new user ID.
Sub-heading: TurboTax Desktop (CD/Download) – Local Control
What it is: The desktop version involves purchasing and installing the TurboTax software directly onto your computer (Windows or Mac, depending on the year and version). This means you can work on your taxes without an internet connection once the software is installed.
When to choose it: This option is often preferred by users who want more control over their data, prefer to work offline, or plan to prepare multiple tax returns (e.g., for family members) as the desktop software allows for unlimited returns (though only 5 e-files per software license).
Action Point: Pause for a moment and consider which option best fits your working style and filing needs for the current tax year. Once you've made your choice, proceed to the relevant steps below!
Step 2: Accessing TurboTax and Initiating Your Return
Now that you've picked your platform, it's time to get started with the actual process of opening a new return.
Sub-heading: For TurboTax Online Users
Navigate to the TurboTax Website: Open your preferred web browser and go to the official TurboTax website (turbotax.intuit.com).
Sign In or Create an Account:
If you have an existing Intuit account (from previous TurboTax use, QuickBooks, etc.): Click on "Sign In" and enter your User ID/email and password.
If you're new to TurboTax: Click on "Sign Up" or "Create an account." You'll be prompted to provide an email address, create a user ID, and set a password. Make sure to choose a strong, unique password!
Choose Your Product: Once logged in or after creating your account, TurboTax will typically present you with options for different product tiers (e.g., Free Edition, Deluxe, Premier, Self-Employed, Live Assisted, Full Service). Select the product that best matches your tax situation. Don't worry too much if you're unsure; TurboTax often allows you to upgrade or downgrade later, and your entered data will usually transfer.
Start Your New Return: After selecting your product, you'll generally be taken to a "Welcome" screen or a dashboard where you can initiate a new return. Look for phrases like "Start my taxes," "Start a New Return," or "Get Started."
Sub-heading: For TurboTax Desktop Users
QuickTip: Look for repeated words — they signal importance.
Purchase and Install the Software:
Purchase: You can buy the CD-ROM version from a retail store or purchase a download directly from the TurboTax website.
Install: Follow the on-screen instructions to install the software on your computer. This typically involves running an installer file.
Launch TurboTax: Once installed, locate the TurboTax icon on your desktop or in your applications folder and double-click to launch the program.
Start a New Return:
Upon launching for the first time, TurboTax Desktop will usually prompt you to start a new return.
If you've used it before and want to start a separate new return (not amend an existing one), go to the "File" menu at the top left of the program screen and select "New Tax Return." This is crucial to avoid overwriting or amending a previous return.
Step 3: Initial Setup and Basic Information
Once you've initiated your new return, TurboTax will begin asking you for fundamental information. This forms the backbone of your tax filing.
Sub-heading: The Welcome Screen and Filing Year
Confirm Tax Year: TurboTax will confirm the tax year you are filing for. Always double-check this! If you're filing for a prior year, ensure you have the correct year's software or online access.
"Let's get started!": You'll typically be greeted with a friendly message and prompted to begin.
Sub-heading: Entering Personal Information
Your Name and Social Security Number (SSN): Accurately enter your full legal name and your SSN. This is critical for IRS matching.
Date of Birth and Occupation: Provide your date of birth and your occupation. These details help categorize your return.
Address Information: Input your current mailing address.
Marital Status: Select your current marital status (Single, Married Filing Jointly, Married Filing Separately, Head of Household, Qualifying Widow(er)). This choice significantly impacts your tax calculations and eligibility for certain credits and deductions. TurboTax will often provide explanations to help you choose the correct status.
Sub-heading: Dependents (If Applicable)
Adding Dependents: If you have dependents, you'll be prompted to add their information, including their name, SSN, relationship to you, and date of birth. TurboTax will then help determine if they qualify as your dependents for tax purposes.
Why this matters: Claiming eligible dependents can unlock valuable tax credits, such as the Child Tax Credit, which can drastically reduce your tax liability or even lead to a refund.
Step 4: Gathering Your Documents – The Pre-Filing Checklist
While not a step within TurboTax itself, this is a paramount step that directly impacts your ability to complete your return accurately and efficiently. Do not skip this!
Sub-heading: Essential Income Documents
Form W-2 (Wages and Tax Statement): From your employer(s). This is your primary document for reporting wages, tips, and other compensation.
Forms 1099 (Various Types):
1099-INT: Interest income (from banks, investment accounts).
1099-DIV: Dividend income (from investments).
1099-MISC: Miscellaneous income (e.g., rental income, royalties, prize money).
1099-NEC: Non-employee compensation (for independent contractors, freelancers, gig workers).
1099-R: Distributions from pensions, annuities, retirement plans, IRAs.
1099-B: Proceeds from broker and barter exchange transactions (for stock sales, etc.).
Form K-1 (Partner's Share of Income, Deductions, Credits, etc.): From partnerships, S corporations, or trusts.
Social Security Benefit Statement (Form SSA-1099): If you received Social Security benefits.
Unemployment Compensation (Form 1099-G): If you received unemployment benefits.
Sub-heading: Deduction and Credit Related Documents
Form 1098 (Mortgage Interest Statement): For home mortgage interest paid.
Student Loan Interest Statement (Form 1098-E): For student loan interest paid.
Tuition Statement (Form 1098-T): For educational expenses.
Childcare Expenses: Records of payments made to childcare providers.
Medical Expense Records: Receipts for doctor visits, prescriptions, and health insurance premiums (if self-employed).
Charitable Contribution Records: Receipts for cash and non-cash donations.
Property Tax Statements: For real estate taxes paid.
Investment Expense Records: For certain investment-related costs.
Receipts for Business Expenses (Self-Employed): Detailed records of all income and expenses if you're self-employed.
Pro Tip: Create a dedicated folder (physical or digital) for all your tax documents as they arrive throughout the year. This will save you immense time and stress when tax season rolls around.
Tip: Be mindful — one idea at a time.
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Step 5: Data Entry and Guided Interview
This is where TurboTax truly shines. Instead of filling out complicated forms, you'll answer simple questions, and the software will populate the correct forms behind the scenes.
Sub-heading: Walking Through Sections
Income Section: TurboTax will guide you through entering all your income sources. It often allows you to import W-2s directly from employers or connect to financial institutions for 1099 data. This can be a huge time-saver!
Manual Entry: If direct import isn't available, you'll manually input the information from your collected documents. Follow the prompts carefully.
Deductions & Credits Section: This is where you can significantly reduce your taxable income or your tax bill. TurboTax will ask about common deductions and credits, such as:
Standard Deduction vs. Itemized Deductions: TurboTax will compare these for you and recommend the option that results in the lowest tax liability.
IRA Contributions, Student Loan Interest, Educator Expenses, Health Savings Account (HSA) Contributions.
Child Tax Credit, Earned Income Tax Credit (EITC), Education Credits, Dependent Care Credit.
Other Sections: Depending on your situation, you might go through sections for investments, real estate, business income/expenses, and more. Be thorough and accurate in your responses.
Sub-heading: Review and Error Checks
SmartCheck/CompleteCheck: As you progress, TurboTax constantly performs checks for common errors and omissions.
Review Your Return: Before filing, TurboTax provides a comprehensive review process. It highlights potential issues, suggests overlooked deductions, and allows you to go back and make corrections. Take your time with this review! It's your last chance to catch mistakes.
Step 6: Filing Your Return
Once you've meticulously entered all your information and reviewed your return, it's time for the final step: filing!
Sub-heading: E-File vs. Mail
E-File (Electronic Filing): This is the recommended and fastest method. Your return is submitted electronically to the IRS and state tax agencies. You'll usually receive a confirmation within 24-48 hours.
Direct Deposit: If you're expecting a refund, opt for direct deposit into your bank account for the quickest receipt.
Mail a Paper Return: If you prefer or are unable to e-file (e.g., certain prior-year returns or complex situations), TurboTax will provide instructions for printing and mailing your return. Be sure to sign and date your return and include all required forms.
Sub-heading: Payment (If Applicable)
Paying Taxes Owed: If you owe taxes, TurboTax will provide various payment options:
Direct Debit: Authorize the IRS to withdraw the funds directly from your bank account.
Credit Card: Pay with a credit card (often incurs a processing fee).
Mail a Check/Money Order: Print a payment voucher and mail a check.
Step 7: Saving and Accessing Your Return
Congratulations, you've filed your new return! But the process isn't quite over.
Sub-heading: Saving Your Return
Tip: A slow skim is better than a rushed read.
TurboTax Online: Your return is automatically saved on TurboTax's secure servers. You can access it anytime by logging into your account.
TurboTax Desktop: Always save your return frequently while working on it. When you're done, save a final copy. It's also wise to save a PDF copy of your filed return for your records.
Sub-heading: Accessing Prior Year Returns
Online: You can typically access past filed returns through your TurboTax Online account.
Desktop: Your filed returns will be saved as separate files on your computer.
Key Takeaway
Starting a new return in TurboTax, whether online or with the desktop software, follows a logical progression of choosing your platform, setting up basic information, meticulously entering your financial data with the help of documents, reviewing for accuracy, and finally, filing. By following these steps and taking advantage of TurboTax's guided approach, you can navigate tax season with confidence and ensure your return is accurate and optimized.
10 Related FAQ Questions
Here are 10 common "How to" questions related to starting a new return in TurboTax, along with quick answers:
How to start a new return for a different tax year in TurboTax?
To start a new return for a different tax year, you generally need to purchase or access the TurboTax software specific to that prior year (for desktop versions) or select the option to file prior-year taxes on the TurboTax website (for online versions). Each tax year requires its own separate return.
How to start a new return if I already filed one in TurboTax Online?
If you've already filed a return for the current tax year in TurboTax Online and need to file another (e.g., for a family member), you will typically need to create a new TurboTax account with a different User ID. TurboTax Online is designed for one return per account.
How to start a new return in TurboTax Desktop after completing one?
In TurboTax Desktop, go to the "File" menu at the top of the program and select "New Tax Return." This will open a blank return for you to begin a new filing without affecting the one you just completed.
QuickTip: Use the post as a quick reference later.
How to start over completely if I made mistakes in my new TurboTax return?
TurboTax Online: As long as you haven't paid for or filed your return, you can usually go to "Tax Tools" in the left menu, then select "Clear & Start Over."
TurboTax Desktop: If you haven't saved the current return, simply close the program and reopen it, or go to "File" > "New Tax Return" and choose not to save the previous attempt. If you've saved it, you may need to delete the specific tax data file from your computer's documents.
How to import my previous year's tax data into my new TurboTax return?
When starting a new return, TurboTax often gives you the option to import data from your previous year's TurboTax return (if you used TurboTax). This can pre-fill much of your personal information, saving you time. Look for prompts like "Transfer last year's data" or "Import from prior year."
How to choose the right TurboTax product for my new return?
TurboTax offers different products (e.g., Free, Deluxe, Premier, Self-Employed). The right choice depends on your tax situation. Generally, simple returns with W-2 income might qualify for Free Edition, while those with investments, self-employment income, or rental properties will need higher tiers. TurboTax usually guides you to the appropriate product based on your initial answers.
How to add a state return to my new federal return in TurboTax?
Once you've started your federal return, TurboTax will prompt you to add a state return after you've completed most of the federal information. Look for a section related to "State Taxes" or "Add a State."
How to get help while starting my new return in TurboTax?
TurboTax offers various help options:
Contextual Help: Blue question mark icons or "Learn More" links throughout the interview.
Search Bar: Type your question into the search bar within the program.
TurboTax Community/Support: Access online forums and support articles from the TurboTax website.
Live Assisted/Full Service (Paid Options): Upgrade for live help from a tax expert.
How to ensure my new return is accurate with TurboTax?
TurboTax has built-in features like "SmartCheck" or "CompleteCheck" that review your return for errors and missed deductions. Always go through the final review process thoroughly, answer all questions honestly, and double-check all entered figures against your original documents.
How to know if I'm eligible for the free version when starting a new return in TurboTax?
The TurboTax Free Edition typically covers simple tax situations, generally those filing with a Form 1040 only, with standard deductions, employment income (W-2), and potentially simple credits like the Earned Income Tax Credit (EITC) or Child Tax Credit. If your situation is more complex (e.g., itemized deductions, self-employment, investments), you'll likely need a paid version. TurboTax will usually inform you if your situation requires an upgrade.
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