Can I use the free version of TurboTax for stock sales?
The TurboTax online Free edition is used for fairly simple tax return and supports IRS Forms 1040EZ and 1040A. A tax return with stock sales would not be able to use the Free edition since to report those sales you need the full Form 1040, Schedule D and Form 8949.
Do I need TurboTax Deluxe or Premier if I bought stocks?
It will say you need Premier but that is just a recommendation, it's not required. May 31, 2019 5:02 PM Do I need turbotax deluxe or premier if I bought AND sold stocks? BTW: This was my first year to invest in the stock market Depends. If you use the Online web version you do need Premier.
Which TurboTax to use for stock dividends and interest?
Which turbotax to use, for stock dividends, interest, K-1's: deluxe or premier? For the online editions of TurboTax for reporting only dividends on form 1099-DIV and interest on Form 1099-INT, you can use either the Deluxe or Premier Edition.
What version of TurboTax do I need to enter capital gains?
If you have any capital gains or losses that need to be reported on Schedule D, then you would have to use the Premier edition. For the desktop editions, you can use any of the 2013 editions for TurboTax for what you want to enter. May 31, 2019 4:45 PM
Which TurboTax do I need for stock sales?
After you list every stock sale for the year, you'll be able to calculate your total gain or loss to report on Schedule D. Whether you have stock, bonds, ETFs, cryptocurrency, rental property income or other investments, TurboTax Premier has you covered.
Can I use TurboTax free if I sold stock?
An investment sale can only be reported using the Premier edition or higher, not the Free edition.
Which version of TurboTax do I need for capital gains?
You'll use TurboTax Premier to report capital gains and losses as described above.
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.
How do I file taxes if I sell stock?
However, when you sell an option—or the stock you acquired by exercising the option—you must report the profit or loss on Schedule D of your Form 1040. If you've held the stock or option for less than one year, your sale will result in a short-term gain or loss, which will either add to or reduce your ordinary income.
What's 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.
Can you use TurboTax Deluxe If you have capital gains?
You can still use Deluxe to report income from interest, dividends and mutual fund capital gains distributions. You can also use it to report miscellaneous income from a 1099-MISC.
Can TurboTax standard do capital gains?
Yes. All Turbotax products can handle capital gains and losses.
What are the different versions of TurboTax?
TurboTax Free Edition includes guidance in case of an audit, backed by TurboTax's audit support guarantee.TurboTax Free Edition.TurboTax Deluxe 2021 Tax Software, $40 (regularly $50)TurboTax Deluxe, $59.TurboTax Live Deluxe, $119.TurboTax Premier 2021 Tax Software, $70 (regularly $90)TurboTax Premier, $89.More items...•
Should I get TurboTax plus?
Is TurboTax Plus Worth It? It depends on your specific situation. Plus provides the convenience of having your previous year's information automatically transferred to the new year's forms. It also lets you access your prior year's tax returns at a later date.
How do I change from TurboTax Premier to free?
Change from turbotax deluxe to free version?If you haven't already done so, sign in at TurboTax.com and select the blue Take me to my return button.On the welcome back screen, in the left-side menu, select Tax Tools, and then select Clear & Start Over (see attached Tax Tools)Answer Yes in the pop-up to confirm.
What is included in TurboTax Deluxe?
All TurboTax Live Deluxe featuresGuidance for homeowners. Have a tax expert help make sure you get every homeowner tax deduction available, including mortgage interest, property taxes, and more.Searches 350+ deductions. ... Ideal for education expenses. ... Tax credits for dependents. ... Charitable donations. ... Big life changes?
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.
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.
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.
