Tax Code 7702 is a part of the IRS tax code that explains how cash-value life insurance policies can keep their tax-advantaged status. Section 7702 life insurance plans refer to tax-advantaged life insurance policies named after that specific section of the IRS tax code. Tax code 7702 explains how cash-value life insurance policies retain their tax-advantaged status. A 7702 plan is not a type of life insurance policy, such as a term or whole life policy. To preserve tax-advantaged status, policyholders need to fully understand the type of policy they are choosing. Also, how premiums will be handled before signing a life insurance contract.
U.S. Military
Unlike the standard TurboTax software, the military edition has more features tailored for members of the armed forces. You can also enjoy free federal and state e-files, education assistance, moving expenses, and the EITC. The AARP has its own tax resource center where you can find tax preparation tips, financial education, and debt management tools.
Tax & Online Software Products
So if you drive for Uber or Lyft or deliver for Postmates or DoorDash, this is the product you may want to use. TurboTax service codes offer a way to save money on TurboTax Online. These special codes provide discounts and are issued by TurboTax specialists for specific reasons, such as resolving a customer support issue or acknowledging an inconvenience.
Credit card discounts
AARP is a nonprofit organization that has been helping the elderly achieve independence and save a fortune for years. In fact, AARP’s main goal is to help the elderly stay active and alert. Since Uber reports this income information directly to the IRS, you don’t have to include the actual 1099 forms with your tax return. The largest tax deduction for most Uber drivers is the business use of a car. You can deduct the actual expenses of operating the vehicle or you can typically use the standard IRS mileage deduction.
If you tracked your mileage and expenses with Everlance throughout the entire year, you can view and download your info from your account. Luckily since you’re a Self-Employed user, you can contact us and speak to a live agent who can go about applying that discount for you. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear), but does not influence our editorial integrity.
- We will always share our sincere opinions, and we are selective when choosing which companies to partner with.
- I don’t think the discount covers the Live expert help part of the fees so you might already be getting the discount.
- Tax code 7702 explains how cash-value life insurance policies retain their tax-advantaged status.
- If TurboTax makes a mistake on your returns, they promise to cover any fines and interest the IRS assesses against you.
- Export all of your data to TurboTax next year for your business and mileage deductions.
The rates, terms and fees presented are accurate at the time of publication, but these change often. We recommend verifying with the source to confirm the most up to date information. We make money from affiliate relationships with companies that we personally believe in. This means that, at no additional cost to you, we may get paid when you click on a link. Once it did its scan, I was able to figure out how much I spent on my car for all of 2016 in about 30 minutes (see below). All you have to do is log into your Uber Driver account and get started.
- And if you send your link to a friend and they purchase an online TurboTax product, you’ll receive e-gift cards of up to $500 as a reward from TurboTax.
- All you need to do is show proof that you have completed at least one class in the last year to receive the maximum refund.
- When you file your taxes with TurboTax Full Service experts, you’ll get $100 back instantly.
- Let a local tax expert matched to your unique situation get your taxes done 100% right with TurboTax Live Full Service.
Uber Drivers – How To Calculate Your Taxes Using TurboTax
TD Ameritrade clients have had access to TurboTax discounts in the past. Clients should log in to their TD Ameritrade account and navigate to the “Client Rewards” or “Special Offers” section to find any available TurboTax promotions. Starting the tax preparation process through the provided link will apply the discount automatically. Chase has been known to offer TurboTax discounts to its customers. Chase account holders uber turbotax discounts andservice codes should log in to their online banking portal and navigate to the “Special Offers” or “Rewards” section of Chase.com to find any available TurboTax promotions. By accessing TurboTax through the Chase affiliate link, the discount should be applied automatically.
Deductions for mileage and the business use of your car
For the 2024 tax year, the IRS is using a $5,000 threshold, regardless of the number of transactions. The One Big Beautiful Bill passed by Congress in July of 2025, changes the threshold back to $20,000 in payments and more than 200 transactions beginning with the 2025 tax year. For example, the company has a number of partners that promote discounts to group members. Getting the discount simply requires logging in to your account on a participating website or app. Be sure to read up on official guidance from the IRS to see the latest deductions for your filing status.
Save on federal and business tax filings by following here for limited-time offers throughout the 2025 tax season. I started driving for Uber and Lyft in 2015 and eventually quit my day job as an aerospace engineer to run The Rideshare Guy full time. These days, I’m a trusted media expert on all things rideshare and have a number of contributors across the country who are all driving for Uber and Lyft and other gig companies. Export all of your data to TurboTax next year for your business and mileage deductions. Once you e-file, it usually takes a week or so for you to get your refund after the IRS approves your return, and there shouldn’t be any fees added on. The best version of TurboTax for rideshare drivers is TurboTax Self-Employed since it’s tailored towards independent contractors.
Grubhub 1099 Tax Forms Explained In Simple Terms
If you are a veteran, you can get a discount of up to $5 if you are a member of the National Guard or Reserves. Whether you want an expert to do your taxes from start to finish, or expert help while you file on your own, TurboTax has expert-backed offerings to meet your needs. With TurboTax Live Assisted, our tax experts help you complete your taxes, fix any mistakes, and explain what’s next. Or, with TurboTax Live Full Service, a local tax expert matched to your unique situation will get your taxes done 100% right – as soon as today.
It then used the percentage of the miles I drove for Uber to figure out how much of my Auto Loan Interest I could deduct. At the end, it provided an accurate explanation of how it calculated my auto loan interest deduction. Or, if you are a college student or in the military, you probably can file for free or at a special discount. In case you have any issues accessing the discount, you can also use this link, or find similar savings on our TurboTax coupon page. Now that you know the details, it’s time to take advantage of the Uber TurboTax partnership this tax season. In most cases, TurboTax will have you use the standard IRS deduction for your mileage, as it will likely provide the most significant return.
As for the discount amount, it depends on where you get it so make sure to do a little bit of research before. For these reasons, you can think of this as how small businesses refer to one another. This kind of relationship between companies will always benefit you by getting discounts. Currently, there are hundreds of websites and platforms where you can claim a TurboTax discount.