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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The Deluxe (desktop) version walks me through every topic, one at a time so if that is what you mean then Deluxe already has it.
You always have the option to jumping directly to any speciifc form you want and then returning to the "guided" topic by topic walk through.
I assume Premier and H&B includes extra help topics or whatever but I want to be clear that the Deluxe version doesn't just put the raw tax forms up on the screen and expect you to fill it in - it guides you through the whole process start to finish, you don't ever have to deal with the raw forms unless you want to.
Personally I like to look at the raw forms when I am done to compare to the previous year, line by line to make sure everything looks good but that's me, it certainly isnt a requirement.
This is what Deluxe desktop looks like :
https://imgur.com/a/QdyqQbh
https://imgur.com/a/0L3delv
- Includes 5 Federal e-files. and 1 State via download (State e-file sold separately)
So if I need to do taxes for 3 different people I have to buy 3 copies?
I've daytraded and had hundreds of trades downloaded including stocks/options/futures, deluxe (desktop) handled it all.
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