WHICH TURBOTAX DO I NEED?
Many customers have asked our customer service agents “Which TurboTax do I need?”or “Which version of TurboTax is best for my situation?” The following article intends to simplify and consolidate the answers. We hope you find this helpful, and always feel free to reach out to our agents through the live chat feature.
In this article I will discuss which product you should buy based on your unique tax situation. The products discussed are as follows:
- TurboTax Deluxe
- TurboTax Premier
- TurboTax Home and Business
- TurboTax Business
TURBOTAX DELUXE
TurboTax Deluxe is by far the most popular and at only $38.99 on our site you can really maximize the value of your deductions. TurboTax Deluxe is best for someone who would like to claim a lot of deductions but doesn’t have rental properties or anything like that. TurboTax Deluxe is recommended if any of the following apply:
- Need to file both Federal & State Tax Returns
- You donated to charity
- You have significant education or medical expenses
- Own a home
- You have a lot of deductions
TURBOTAX PREMIER
The best part of TurboTax Premier is that it helps you keep more of your investment and rental income and offers a little extra help for investment sales like stocks, bonds or mutual funds. TurboTax Premier is recommended if any of the following apply:
- Need to file both Federal & State Tax Returns
- Sold stock, bonds or mutual funds
- Sold employee stock (ESPP)
- Own rental property
- Are a trust beneficiary
TURBOTAX HOME AND BUSINESS
Are you self-Employed? Sole Proprietor? If you answered yes, this is your product. TurboTax Home and Business helps you get your personal and self-employed taxes done right, and offers extra guidance for self-employment & business deductions. This is a must have product if you’re working for yourself and preparing your own tax return. TurboTax Home & Business is recommended if any of the following apply:
- Need to file both Federal & State Tax Returns
- You are self-employed
- You are an independent contractor
- You are a freelancer
- Small business owner or sole proprietor
- Have a home office or home-based business
TURBOTAX BUSINESS
TurboTax Business is a powerhouse! This version is designed Take care of partnership, S Corp, C Corp, multi-member LLC or trust forms, and to Create W-2 and 1099 tax forms for employees and contractors. TurboTax Business is recommended if any of the following apply:
- Need to file a separate tax return for your business
- Have a partnership
- Own a S or C Corp
- Multi-Member LLC
- Manage a trust or estate