Updated on Sunday, April 6, 2025: With Tax Day right around the corner, plenty of us will be using TurboTax to get our returns filed before the April 15th deadline. But don’t worry, you won’t have to pay full price. We’re rounding up the best TurboTax 2025 discounts and deals to help you save…here are all of the our favorite offers available right now:
1. 10% Off TurboTax Online (Through April 15, 2025)
TurboTax is offering an additional 10% discount on its federal tax filing products when purchased directly through Intuit’s website. This discount stacks on top of current end-of-season pricing and applies to federal tax products only, excluding state returns. Note that this offer cannot be combined with other TurboTax promotions and expires on April 15, 2025.
2. 50% Off QuickBooks Solopreneur Bundle
Small business owners and freelancers can take advantage of TurboTax’s partnership with QuickBooks. The QuickBooks Solopreneur Bundle is available at 50% off for the first three months, reducing the price from $20/month to $10/month. This bundle streamlines bookkeeping and tax preparation for self-employed individuals.
3. Free TurboTax for Active-Duty Military (E1 to E9 Ranks)
TurboTax’s Freedom Edition offers free federal and state tax filing for active-duty military personnel ranked E1 to E9. For those ranked higher, discounted pricing is available. Eligible users need to provide a military W-2 form from the 2024 fiscal year to access these savings.
4. Partner Discounts Through Banks and Credit Unions
TurboTax frequently partners with banks and credit unions to offer exclusive discounts to their customers. To see if you’re eligible, check your financial institution’s online portal under the “deals” or “partnerships” section. These offers may provide significant savings, particularly for those who bank with larger institutions.
5. Free TurboTax Edition for Simple Returns
For individuals with uncomplicated tax situations, TurboTax’s Free Edition is a cost-effective way to file both federal and state taxes. It supports simple Form 1040 filings and limited credits, such as the Earned Income Tax Credit (EITC), Child Tax Credit, and Student Loan Interest Deduction.
However, only about 37% of taxpayers qualify for this free option, as it does not cover more complex scenarios, including business ownership, itemized deductions, or investment income. If you fall into those categories, upgrading to a paid version will be necessary.
TurboTax and Robinhood: No Discount for 2025
For several years, Robinhood customers benefited from TurboTax discounts during tax season, but that appears to have changed in 2025. As of now, no TurboTax offers are publicly available for Robinhood users (the previous link does no longer activates any discounts).
Why the Shift?
In previous years, Robinhood worked with TurboTax to provide exclusive discounts for its users, likely to streamline the tax filing process for those managing investments and stock trades. This partnership made sense for Robinhood’s customer base, many of whom are newer investors navigating tax implications for the first time.
While it’s unclear why this partnership ended, Robinhood users are encouraged to check their account dashboards or emails for any potential updates. In the meantime, they can still take advantage of TurboTax’s publicly available discounts and features.
Understanding Robinhood: Background, Benefits, and Tax Implications
What Is Robinhood?
Robinhood is a commission-free trading platform that launched in 2013 with the goal of democratizing finance. The platform allows users to trade stocks, ETFs, options, and cryptocurrencies without paying traditional brokerage fees. Robinhood’s mobile-first design and easy-to-use interface have made it especially popular among millennials and first-time investors.
Robinhood’s Business Model
Robinhood operates on a unique revenue model. While it offers commission-free trading to users, the company earns revenue through methods such as:
- Payment for Order Flow (PFOF): Robinhood receives payments from market makers for directing trade orders to them.
- Premium Subscriptions: Robinhood Gold, a premium service, offers features like margin trading and in-depth research tools for a monthly fee.
- Cash Management and Interest: The platform generates interest from uninvested cash in user accounts.
How Robinhood Intersects with Taxes
Investing through Robinhood has several tax implications that users need to consider:
- Capital Gains and Losses: Profits from selling investments are subject to capital gains tax, while losses can be used to offset taxable income.
- Dividend Income: Dividends received from stocks are generally taxable and must be reported.
- Cryptocurrency Transactions: Cryptocurrency sales and trades are taxable events, requiring detailed record-keeping for accurate reporting.
- 1099 Forms: Robinhood provides 1099 tax forms to users who meet certain income or transaction thresholds. These forms summarize investment activity for the year, making tax filing easier.
How to Get Tax Help as a Robinhood User
Robinhood does not provide tax preparation services, but it offers resources to help users understand their tax obligations. The platform’s support center includes guides on topics like reporting investment income and downloading tax documents. Users can also integrate their Robinhood account with tax software like TurboTax to import investment data directly.
Pros and Cons of Using Robinhood for Investments
Pros
- No Commissions: Robinhood allows users to trade stocks, ETFs, options, and cryptocurrencies without paying fees.
- Easy-to-Use Interface: The app is designed to be intuitive, making it ideal for beginners.
- Fractional Shares: Users can buy portions of expensive stocks, lowering the barrier to entry for high-value investments.
- Crypto Trading: Unlike many traditional brokerages, Robinhood offers cryptocurrency trading alongside traditional assets.
Cons
- Limited Research Tools: While Robinhood Gold offers some advanced features, the platform’s research tools are basic compared to other brokerages.
- No Retirement Accounts: Robinhood does not offer IRAs or other tax-advantaged retirement accounts, limiting its appeal for long-term investors.
- Tax Complexity: Active trading can lead to a high volume of taxable events, increasing the complexity of tax filing.
- Revenue Model Concerns: The platform’s reliance on Payment for Order Flow has drawn criticism for potential conflicts of interest.
Robinhood and Taxes: A Closer Look
For investors, tax season can be particularly challenging. Robinhood users should be aware of the following tips to make the process easier:
- Organize Your 1099 Forms: Ensure you have all the necessary tax documents from Robinhood before starting your return. These forms can be downloaded directly from your account.
- Understand Tax Implications for Cryptocurrencies: Cryptocurrency transactions are treated as property sales for tax purposes, requiring detailed reporting of purchase and sale prices.
- Leverage Tax Software: Many tax preparation platforms, including TurboTax, allow you to import investment data from Robinhood. This feature can save time and reduce errors.
- Consider Tax-Loss Harvesting: If you have losing investments, selling them to offset gains can lower your tax bill.
Our Final Thoughts
TurboTax continues to offer valuable discounts for 2025, making it a reliable option for taxpayers at all levels of complexity. While Robinhood users may be disappointed by the lack of a dedicated TurboTax discount this year, they still have access to other resources to streamline tax filing. As both platforms evolve, staying informed about changes and leveraging available tools will be essential for navigating tax season effectively. Whether you’re a first-time filer or a seasoned investor, preparation is key to ensuring a stress-free experience.
