Version Comparison:
https://turbotax.intuit
One important distinction about the various versions is that the Federal only may be good for people who live in states with no State personal income tax (Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming), but if they work in (physically) other states that do have personal income taxes they need to file non-resident returns; so the Federal+State could be useful for them or anyone else who physically works in a state with personal income taxes.
Regarding "State" confusion, on product page, it denotes:
TurboTax includes "1 State via download ($40 value*). State e-file sold separately."
This means you will get the download product for a state of your choosing in order to prepare and file it. E-filing your state return is sold separately but you can avoid that by choosing to print and mail instead of e-file.
1 State download is included per computer for free. If you install on another computer you have the option of downloading another state for free with that install.
There are 5 federal e-files per purchased (licensed) copy of the software. If you choose to trade a GC or otherwise with someone just know that you can't say with certainty the last person they traded with only activated it 1 time, or installed on multiple computers resulting in multiple activations at which point you could be out of luck. There has also been mention of a particular license key getting bound to the account that purchased the license if using a download version (vs CD) so downloading in that scenario would not be as quick and easy.
IRS announces delay for implementation of $600 [irs.gov] reporting threshold for third-party payment platforms' Forms 1099-K
If you plan on having these types of transactions in 2023 you will need to get the Home and Business version to make the calculations for your self-employment/estimated taxes for 2023 due April 15th, 2024
Before someone chimes in about all the free tax filing services -- remember youre the product not the customer for them.
https://www.theverge.co
FreeTaxUSA and Cash App also offer Free Tax software, and are *not* mentioned in the privacy data breach article above. But unless someone has completely read the legal disclosure documents of Intuit, there's still risk that they are selling this info to 3rd parties *and* charging high prices. Also beware Intuit actively spends millions of dollars lobbying the government to *not* implement it's own simpler automatic tax filing for majority of citizens like most other advanced countries.
FreeTaxUSA is less polished and lacks some basic features such as the ability to import W2 and 1099s -- also some features arent free such as state filing. https://www.pcmag.com/reviews/freetaxusa
Digital credits cannot be used on the TurboTax bundle (has $10 Amazon gc)
Digital credits can be used on TurboTax by itself (no $10 Amazon gc)
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You will have to pay for two state efiles if you want to efile both returns to your state, that will be the only upcharge. Both federal efiles will be free.
I have never used anything but deluxe, as far as I know premier includes extra help/tools/guidance for certain topics including rental income.
AFAIK Deluxe includes all the forms so I don't think there is actually anything that premier can do that Deluxe cannot do, its just you get more help/guidance with Premier.
Since I dont own rental property I won't speak to something that I dont have first-hand knowledge about. I do know that Deluxe handles Schedules A,B,C and D just fine (including walking you through each of those)
If its your first year doing something new (owning rental property, being self-employed, etc) then maybe the upgraded versions are worth it for "better guidance" but if you are just doing the same thing as the previous year I have trouble believing anything other than Deluxe is really needed.
It would be great if someone who uses Premier or H&B explains why they are using that version instead of Deluxe.
$27 net.
Sales tax applies in Texas and likely other states too.
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"The item is not available for purchase due to geographical restrictions"
Anyone else have the same issue?
happens for all items even without gift card
I've daytraded and had hundreds of trades downloaded including stocks/options/futures, deluxe (desktop) handled it all.
E-file costs extra. Most people just print out their preparation forms and mail it in to file.
I share mine with family. They prepare their federal and state. I prepare my federal, turn off my internet, prepare my state, print off both federal and state to mail, and un-install the software. So I'm able to get multiple state preparations that way.
Since a key can be used 5 times, do all of the 5 filings allow 1 state each? Or is it one state across all 5 filings? I understand I will have to pay $25 x2 to e-file both
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Congrats to Intuit for confusing people into spending more money than they need to.
The purposely vague phrasing "Additional help" likely indicates that most of what you need for investment sales is would be included in the Deluxe version. I would love to know what the exact difference is. That extra $20 is paying dividends for their marketing team.
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