That said, we know that tax matters can become confusing and in some cases even more complex. That’s why TurboTax offers live tax advice from professionals.
There’s one tricky part, though: you have to figure out which TurboTax version you need. Let’s go through the available options and help you make the right choice.
Intuit TurboTax Deluxe:
- Best for those who own a home, make charitable donations and have high medical costs.
If your taxes are on the simpler end of the spectrum, this is the version you want. It’s for the traditional employee who gets a W-2. It also includes homeownership assistance and can guide you in reporting your mortgage interest, property taxes, etc. It can also account for medical expenses, helping you optimize your deductions.
Intuit TurboTax Premier:
- Best for those who have sold investments, own rental properties or are a beneficiary of a trust.
Those with slightly more complex tax situations should look at the Premier level. In addition to helping you with your W-2 forms, it can also help you with financial investments, employee stock sales, and more. It will also help with IRA savings and rental income.
Intuit TurboTax Home & Business:
- Best for the self-employed, freelancers, contractors, consultants or small business owners.
Things get a little more complicated for those who own a business, are freelancers, or work independently. It supports W-2 forms, but can also work with you on 1099 forms, deductions, and more. It will guide you through the entire process.
Tax season has only just started, but it’s good to get ahead of the curve and get things done right away. And even if you want to wait a little longer, it’s a good idea to get the software while it’s on sale!
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