If you sold any investments (stocks, bonds, mutual funds, options, etc.) then you’ll have to file a Schedule D – which also means you’ll need TurboTax Premier. If you received a Schedule K-1 (Form 1065), which you would get if you are in a partnership, that’s another reason you’ll need TurboTax Premier.
How much does TurboTax Premier cost?
Turbo Tax Premier Online is $54.99 plus a fee of $36.99 for a state additional.* Turbo Tax Premier CD/Download is $89.99 and includes one state download and up to 5 federal e-files.* * Prices are subject to change. See the links below for updated prices.
Which TurboTax products do I need to use?
In tax year 2017 you would need to use the Premier or Self-Employed online editions to report the stock sales. The assumption is that this will also continue for tax year 2018. Or you could use any of the TurboTax desktop CD/Download editions since all the desktop editions support stock sales. 0.
What is the difference between TurboTax Deluxe and Premier?
- TurboTax Free – $0.00
- TurboTax Deluxe with State – $39.99
- TurboTax Premier with State – $54.99
- TurboTax Home and Business with State – $64.99
What is the cost of Turbo Tax Premier?
TurboTax Premier includes everything you get in Deluxe, as well as coverage for tax deductions and credits for things like stock market and cryptocurrency investments, rental property income and refinancing deductions. It also has a feature that lets you auto-import your investment income reports. Cost: $69 for federal filing, plus $39 per state
Which TurboTax do I need if I have investment income?
TurboTax Premier is designed for investors of all experience levels. Increase your tax knowledge and understanding – all while doing your taxes. TurboTax Premier walks you through investment tax scenarios including stocks, bonds, ESPPs, robo-investing, cryptocurrency, rental property income, and more.
What happens if you don't want TurboTax Premier?
If you don't need all of the features of TurboTax Premier, you can downgrade from TurboTax Premier to another version of TurboTax Online, as long as you haven't paid yet (or registered in a free version) - but please bear in mind that you will need to clear any data which you have entered and start over in the other ...
What version of TurboTax do I need for stocks?
Whether you have stock, bonds, ETFs, cryptocurrency, rental property income or other investments, TurboTax Premier has you covered. Filers can easily import up to 10,000 stock transactions from hundreds of Financial Institutions and up to 4,000 crypto transactions from the top crypto exchanges.
Does TurboTax free include investments?
Their free version includes much of what is included in TurboTax Premier (investments, rental income) and Home & Business (1099 income and expenses).
How do I get rid of TurboTax Premier?
Thanks! At this point, your return was submitted, so unfortunately you will be unable to clear your return and start over. The best thing to do is to fix the rejected return and resubmit it.
Why is TurboTax making me upgrade to Premier?
If we detect that your tax situation requires expanded coverage, like deductions for owning a home, unemployment income, or self-employment income, we'll prompt you to upgrade to a version that supports the forms you need so we can maximize your tax deductions and ensure you file an accurate return.
Can I use TurboTax Deluxe If I sold stock 2021?
All desktop CD/download products (including Deluxe) can handle sales of stocks, bonds, mutual funds, etc, and can import from brokerages, etc.
Does Robinhood require TurboTax Premier?
What edition should i buy to file my Robinhood (Investment Loss), W-2Form, 1095-A form? From what you have listed, TurboTax Premier would be the edition that will be able to handle your return.
What are the benefits of TurboTax Premier?
All TurboTax Premier featuresEasily import your. investment info. ... Accurate investment tax reporting. ... Bitcoin and other cryptocurrencies. ... Set up new rentals. ... Great for rental depreciation. ... Employee stock. ... Personalized tips to maximize. ... Robust investment reporting.
Can TurboTax handle investments?
TurboTax Premier automatically imports investment transactions from hundreds of financial institutions, eliminating time and improving accuracy. TurboTax also enables investors to import more transactions across all supported investment types than any other tax software provider.
How do I file taxes for free with investments?
How IRS Free File worksGo to IRS.gov/freefile.Use the "Choose an IRS Free File Offer" tool for help in finding the right product, or.Review each offer by a provider using the "Browse All" tool.Select a product.Follow links to the provider's website to begin a tax return.
What is the difference between TurboTax Deluxe and Premier?
As with the CD, Basic is for simple tax filings and includes e-filing. As with the CD, Deluxe includes added features relating to deductions. As with the CD, Premier includes features in Deluxe plus features relating to rental properties and investments.
Do you need TurboTax Deluxe for stocks?
If you have deductions, such as those associated with owning a home or costs associated with your job, TurboTax Deluxe (either with or without state filing) will fit your needs. If you have rental property and/or deductions related to stocks and investments, you should use either TurboTax Premier or Home & Business.
Is TurboTax good for stocks?
TurboTax Premier can help you accurately figure out your gains and losses, and it's the only major online tax preparation software that supports importing over 1,500 stock and 2,250 cryptocurrency transactions at once directly from financial institutions, saving you time and ensuring accuracy.
How do I enter stocks in TurboTax?
Where do I enter a stock saleClick on Federal Taxes (Personal using Home and Business)Click on Wages and Income (Personal Income using Home and Business)Click on I'll choose what I work on (if shown)Under Investment Income.On Stocks, Mutual Funds, Bonds, Other, click the start or update button.
Can I use free TurboTax if I sold stocks?
An investment sale can only be reported using the Premier edition or higher, not the Free edition.
How to file taxes with TurboTax Premiere?
When preparing to file taxes with TurboTax Premiere, start by gathering together all of the documents that track your investments. Your should have Form 1099-INT for income from interest, Form 1099-B for stock sales and 1099-DIV for any income from dividends. According to TurboTax's preparation checklist, you should also obtain any confirmation slips or brokers' statements for all stocks that you sold. The more information you have, the easier it will be to input the necessary data into the software for an accurate filing.
How much is TurboTax support?
TurboTax offers free support with the software as well as the option of tax advice for $29.95 for 20 minutes. You can use these options if you are confused about your filing or any of the questions being asked of you.
Do you need confirmation slips for TurboTax?
According to TurboTax's preparation checklist, you should also obtain any confirmation slips or brokers' statements for all stocks that you sold. The more information you have, the easier it will be to input the necessary data into the software for an accurate filing. Advertisement.
Do I really need Turbotax premier?
I have been gifted Turbotax in past years, but won't receive that gift this year. I do not itemize, but did sell stock last year..and probably some foreign stock as well.
Re: Do I really need Turbotax premier?
No matter whether it's the online or the download/CD version of TurboTax, if you sold stock, it appears you do need the Premier version.
Re: Do I really need Turbotax premier?
If you use the online version, you need Premier to file Schedule D (for capital gains/losses). If you use the download version, Deluxe is all you need.
Re: Do I really need Turbotax premier?
Thanks for the replies! I do need to file state and have deductions, so I could get desktop Deluxe? Also, any experience with how TT compares with H&R Block Deluxe? It looks like I could use that?
Re: Do I really need Turbotax premier?
Infomom2 wrote: Thanks for the replies! I do need to file state and have deductions, so I could get desktop Deluxe?
Re: Do I really need Turbotax premier?
If you're going the download/CD route, watch for sales. I got H&R Block Premium + State download for $27 earlier this week. I don't think it includes state E-file... but I owe state taxes, so I'm more than happy to snail mail that. I'm really happy about finally breaking the cycle of paying TurboTax more than $100 annually.
Re: Do I really need Turbotax premier?
Thanks, Choy. I didn't realize to click there. I saw the little green dots signifying the features.
