Selecting a Version of Turbotax 2024

[wolsanford]

I am getting ready to purchase my Turbotax software for this year (I always download it instead of working on it online), and am unsure which version to use. In the past I have usually used the "Deluxe version", but this year they are recommending "Premier" at 50% higher price than Deluxe. My situation is not that complex - a little W-2 income, a pension, a Roth conversion, interest and dividend income, HSA contribution, standard deduction - this is actually simpler than prior years where I have itemized deductions as well as sold stock and exercised options, and found Deluxe to be perfectly fine. As near as I can tell the reason for the Premier recommendation is my investment income, although again I had similar last year. Here's my question - does using the higher price version just make it easier to do these things but they can still be done in the lower priced versions, or is it that the lower priced versions of the software do not include things like investment income at all, so the only way to include them with TT is to purchase the premier product?

[sycamore]

I am getting ready to purchase my Turbotax software for this year (I always download it instead of working on it online), and am unsure which version to use. In the past I have usually used the "Deluxe version", but this year they are recommending "Premier" at 50% higher price than Deluxe. My situation is not that complex - a little W-2 income, a pension, a Roth conversion, interest and dividend income, HSA contribution, standard deduction - this is actually simpler than prior years where I have itemized deductions as well as sold stock and exercised options, and found Deluxe to be perfectly fine. As near as I can tell the reason for the Premier recommendation is my investment income, although again I had similar last year. Here's my question - does using the higher price version just make it easier to do these things but they can still be done in the lower priced versions, or is it that the lower priced versions of the software do not include things like investment income at all, so the only way to include them with TT is to purchase the premier product?

Deluxe version will suffice. It has both forms and interview mode for investments and other things you mention.

Premier gives extra "help" presumably in the interview mode. Not sure what it means practically speaking as I've not used it. If you can read your 1099 forms well enough to enter the data in interview mode, Deluxe is all you need. Basically you just transcribe the data.

[samulta52]

I was just at Costco looking at the two and it seems Deluxe doesn't covert Schedule E, rental income stuff ect. Deluxe should be good for your case.

[nps]

Just use Basic if state is not a concern. It does all of that

[Auream]

I was just at Costco looking at the two and it seems Deluxe doesn't covert Schedule E, rental income stuff ect. Deluxe should be good for your case.

Not true, Deluxe (download version, not online) can do Schedule E without a problem.

[Tabulator]

Deluxe version will suffice. It has both forms and interview mode for investments and other things you mention.

To be clear: Can Deluxe work for taxpayers who sell stocks? If so, will it seamlessly import data directly from a broker (which is possible with pricier editions)?

[Auream]

I’ve used Deluxe for well over a decade and I don’t think I ever had a year without stock sales, dividends, etc. it all imports just fine (although ESPP shares usually require manual cost basis adjustment, but that’s an edge case).

[ShadowRegent]

Deluxe can do investments without an issue. It can also do Schedule C despite TurboTax trying to convince you to purchase Home & Business.

[RickBoglehead]

Intuit intentionally makes people fear the need a higher version. Double download works for 99.9% of people. It is a well-engineered fear campaign.

[sycamore]

Deluxe version will suffice. It has both forms and interview mode for investments and other things you mention.

To be clear: Can Deluxe work for taxpayers who sell stocks? If so, will it seamlessly import data directly from a broker (which is possible with pricier editions)?

Yes, I've been doing it for years. (Although I generally input the 1099 data myself. And always verify it!)

[Tabulator]

Glad I saw this thread. I've been paying more for the web-based premium editions for years, believing it's the way to get automatic brokerage data imports.

This year I decided to do it a little differently by getting the desktop version of Premiere at Sams Club in-store. So now I'm cautiously learning about the Sams Club return policy for software.

[Katietsu]

I used Premier one year. All it seemed to do for me that was different than Deluxe was to provide links to IRS publications.

[Luke Duke]

I've been paying more for the web-based premium editions for years

Keep in mind that the web version will not let you downgrade. If you're on the fence, then check the cheaper version.

[samulta52]

I was just at Costco looking at the two and it seems Deluxe doesn't covert Schedule E, rental income stuff ect. Deluxe should be good for your case.

Not true, Deluxe (download version, not online) can do Schedule E without a problem.

Maybe I should try the Deluxe. I checked a few sites and all said Premiere is needed for rental income. I only use CD or download version, not online.

[twofourtheroad]

Ive used Deluxe for years and I have rentals and stock sales.

[Tabulator]

If Sams Club lets me return Premiere, I wonder if I should buy Deluxe while I'm at the store. It's either that or go back to using the web-based editions.

Keep in mind that the web version will not let you downgrade. If you're on the fence, then check the cheaper version.

[nps]

If Sams Club lets me return Premiere, I wonder if I should buy Deluxe while I'm at the store. It's either that or go back to using the web-based editions.

Keep in mind that the web version will not let you downgrade. If you're on the fence, then check the cheaper version.

You can also download Deluxe from TT. Might be a better price with discount links and/or credit card offers.

I'd still just use Basic if don't need or want State

[Not Law]

I switched to H&R Block about 10 years ago when Intuit reduced the features of Deluxe without advertising it, thus forcing one to upgrade to get what had previously been included. This choice was cemented when Intuit stopped supporting Quicken from three year upgrades (free with TurboTax purchase) to a monthly subscription model. I am still using Quicken 2011, which works just fine for me.

[Auream]

I switched to H&R Block about 10 years ago when Intuit reduced the features of Deluxe without advertising it, thus forcing one to upgrade to get what had previously been included. This choice was cemented when Intuit stopped supporting Quicken from three year upgrades (free with TurboTax purchase) to a monthly subscription model. I am still using Quicken 2011, which works just fine for me.

At the time the change to subscription occurred, Intuit had nothing to do with Quicken, FYI.