Update. In case you were waiting, there will be no special TurboTax discount for State Farm bank and mutual fund customers for tax year 2016. Taken from the TurboTax FAQ. It was nice while it lasted. Thanks to Eric and Michael for the heads up.
For many years, State Farm has offered TurboTax for free, or at a greatly reduced price, as a special benefit to their bank and mutual fund customers. State Farm insurance customers have also received special discounts. State Farm has made the decision to discontinue this program for Tax Year 2016.
Original, Expired post from last year:
State Farm is has historically offered significant TurboTax discounts, but only for select bank and mutual fund customers. The promotional prices for 2015 were: TurboTax Federal Deluxe Online free, Premier $20, and Home & Business $30. A free state return is also included with free e-File for all online versions. Details:
- You must have at least one State Farm Bank or Mutual Fund account linked to your StateFarm.com online profile. This includes checking, savings, IRA, and credit card accounts. However, if you only have insurance with them, you will NOT get this discount.
- You must register through their special promotion link.
- Offer limited to the first 25,000 qualified customers who register through State Farm to use TurboTax Online. I don’t recall how fast this ran out, but last year I believe it did run out before April 15th.
Some history… According to my notes, from 2006-2009 State Farm offered TurboTax Deluxe for free to all customers including insurance policyholders. In 2010 or 2011, they started restricting it only to bank and credit card customers.
The easiest way to gain access to this promotion is their regular “Checking” bank account with requires a $25 minimum initial deposit and no minimum balance fee. You must link your bank account number to your online State Farm profile, after which the website will recognize you as a State Farm Bank customer and you’ll be given access to the offer. Here is what you should see:
State Farm® customers can save on TurboTax 2015 by taking advantage of special offers. To receive your special TurboTax offer, you must access and complete your return through the link below. If you access your return directly from Intuit’s site, special offers will not be applied.
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How does one “choose to “lock in” the pricing by registering and paying before actually finishing your return”? I don’t see where you can do this?
You basically pretend like you are going to file your taxes and skip to the end. I don’t do this myself, but here are specific instructions from a Fatwallet forum thread:
Log into your Turb0Tax account after you have gone through above mentioned State Farm
link. (If you used the Turb0Tax software last year, it will ask you if you want to import last years info. Click yes).
Continue by selecting Turb0Tax Deluxe
Complete “Personal Info” section, then click on “Federal Taxes”
Click on “Error Check” and do the minimum to get through the section (just hit “okay” to any errors)
Click on State taxes and let it transfer your information from Federal to State.
Click on “My Account” at the top.
Click “Print Center” then click “Print, save or preview this year’s return”. It will ask you to register. Register.
Click on “My Account” again and choose “Tools” then “Turb0Tax fees”
You should see something similar to:
Turb0Tax Online – Deluxe $0.00 (Paid)
Turb0Tax State: ‘Name of your state’ $0.00 (Paid)
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=1420431
Looks like no vanguard deals this time. 🙁
“Offer valid for the first 25,000 qualified customers who register through State Farm to use TurboTax Online.” Just using the link and signing into TurboTax should be enough to lock you in for the offer, no?
I followed the fatwallet link above and saw that it specifically says that just following the state farm link and logging in is not enough. I followed the directions above to complete registration for the year. Easy enough. Thanks for the tip Jonathan!
Not sure if the 25000 customers limit has already reached ? Has anybody signed up for statefarm bank and received this offer in the last week or so ?
Update on this. Apparently State Farm dropped their tax promo with Turbotax without telling long time customers at all. Sad. Shows how much they care. RIP, it was a gas.
https://ttlc.intuit.com/questions/3403828-state-farm-to-discontinue-turbotax-discounts-to-its-customers
Darn it, I was kind of counting on this. I’ve used it the last few years and it’s been great1
No!
I have kept $25 in a State Farm bank account for several years just for this offer. It has probably saved us more than a hundred dollars.