If you’re a Fidelity customer getting ready to file your taxes, you might be wondering whether there’s a built-in TurboTax discount waiting for you. After all, Fidelity and TurboTax have worked together for years, and many investors rely on TurboTax to import brokerage data quickly and accurately. But can you actually file for free through Fidelity, and if not, how much can you really save? Let’s break down how the Fidelity TurboTax discount works and whether it’s the best deal available now.
Fidelity TurboTax Offers: Discount | Free? | $5 Download | All deals
How to Get a Discount on TurboTax Through Fidelity:
Yes, Fidelity does offer a TurboTax discount for many of its customers, but the exact savings depend on how you access TurboTax and what version you need. Typically, Fidelity provides discounted TurboTax access through its website during tax season.
So, how do you get the discount? When you log in to your Fidelity account and navigate to their tax preparation tools, you may see a TurboTax offer tied to your account like this:
The discount usually applies to paid TurboTax tiers like Deluxe, Premier, or Self-Employed. These versions are commonly needed by Fidelity clients who have investment income, capital gains, dividends, or multiple tax forms such as 1099-DIV or 1099-B. The savings can be meaningful, often knocking 10%–20% off the standard retail price.
One major benefit of using TurboTax through Fidelity is seamless data importing. TurboTax can automatically pull your Fidelity tax forms into your return, saving time and reducing the chance of data entry errors. For many investors, that convenience alone makes the Fidelity TurboTax discount appealing!
Can Fidelity Clients Get TurboTax for Free?
There are two possible ways that Fidelity customers can file free:
- Special offer for preferred clients: Certain Fidelity customers are offered a free copy of TurboTax Online Premium including one free state return. To check if this offer has been extended to you, check the “Portfolio Summary” page after logging into your account starting in mid-December.
- You qualify for TurboTax Free Edition: This option is not exclusive to Fidelity customers and applies only to very simple tax situations. TurboTax Free Edition supports basic returns, such as W-2 income, limited interest income, and standard deductions. If your Fidelity account only generated minimal taxable activity, or none at all, you might be able to file for free.
*~37% of taxpayers qualify. Form 1040 + limited credits only. (no schedules except for Earned Income Tax Credit, Child Tax Credit and Student Loan Interest).
However, most Fidelity clients with active brokerage accounts will need a paid TurboTax version. Once you have investment sales, capital gains, or more complex tax scenarios, TurboTax requires an upgrade. That’s where the Fidelity TurboTax discount becomes useful, but it doesn’t typically make the software completely free.
It’s also important to note that TurboTax itself offers a Free Edition directly on its website for qualifying filers, regardless of Fidelity. In other words, Fidelity doesn’t unlock a special “free” version that you wouldn’t already be eligible for elsewhere, and mainly offers a partner discount on paid editions.
Fidelity $5 Offer for TurboTax Download
The same free TurboTax Online offer mentioned above includes the option of downloading TurboTax Premier Desktop for only $5. That’s not a bad deal considering that the regular price for the Premier Download edition can be $100 or more! Look for the $5 download offer on your Portfolio Summary page after mid-December.
Is the Fidelity TurboTax Discount the Best Savings?
The Fidelity TurboTax discount is solid, but it’s not always the best deal available. TurboTax frequently offers promotions throughout tax season, including a student discount, military discounts, and limited-time percentage-off deals. In some cases, these offers can match or even beat Fidelity’s pricing.
Another factor to consider is flexibility. When you start TurboTax through Fidelity, you’re generally tied to that specific offer. If you later find a better discount elsewhere, switching can be inconvenient. That’s why it’s smart to compare prices before committing.
That said, the Fidelity TurboTax discount shines for investors who value integration and simplicity. The ability to import Fidelity tax data directly (without worrying about file compatibility) can save time and frustration, especially if you have multiple investment transactions. For many users, that convenience offsets a slightly smaller discount.
To Summarize…
The Fidelity TurboTax discount can be a pretty sweet perk for Fidelity customers, especially those with investment income who already plan to use TurboTax. While some filers may be offered TurboTax Premium Online for free or Premier Download for $5, most Fidelity clients will need a paid version.
Definitely check your Fidelity account for a TurboTax offer starting in Mid-December, and then decide what offer or discount yields the best savings for you.
I hope we were able to clarify the Fidelity TurboTax discount for you, and thanks a lot for stopping by Mighty Taxes!