Note: Did you know that if you rented your home out for 14 or fewer days, you can exclude that rental income from your tax return because of the Augusta Rule. Free edition now supports student loan interest. 🔃 UPDATED February 2023: Updated pricing for the downloads off Amazon as well as standard deduction values for tax year 2022 and tax year 2023.

Did you sell stock, bonds, or mutual funds? (or other investments).

So, which TurboTax do you need? Table of Contents For example, if you sold stock, you’ll need TurboTax Premier or better, which only includes TurboTax Home & Business. We list the cheapest version you’ll need. In all the questions and answers below, you can always use a more expensive version of TurboTax. So before you start your tax return on TurboTax and discover which version of TurboTax you need (by then, let’s be honest, you’ll just pay for it because of the time you’ve just put in), why not use our handy guide to figure out which TurboTax version you’ll settle on? If you have a more complicated return, then you will need one of the paid versions. The free version is very powerful (it includes taking a photo of your W-2 to get the information in) but it’s very basic.

or have credits, deductions and income reported on Schedules 1-6.

Schedule C for business or 1099-MISC income.

If you need any of these schedules… you will have to pay for the other packages:

Limited interest and dividend income reported on a 1099-INT or 1099-DIV.

It’s only meant for the simplest of tax situations.

And it’s $0 to file both returns.įile for free with TurboTax Free Edition. TurboTax Free Edition is their free version. It was easy to use, affordable, fast, and more importantly, accurate.

For years, I used TurboTax when I was working a corporate job at Northrop Grumman. If you’re looking for a cheap option for tax preparation, you’ve probably considered Intuit’s TurboTax software.

Turbo taxcaster for 2020