5 popular versions of TurboTax you should know

In recent times, TurboTax has become a popular tax preparation software that assists people to go through the process of preparing taxes smoothly. If you want to make use of the various features and services provided by TurboTax, you can choose from among the different versions of TurboTax. Each of these has features that make it easier to get through the process of filing tax returns without any hassles.
Here are 5 popular versions of TurboTax:

  • TurboTax Free Edition: This free version of TurboTax guarantees easy tax preparation and printing and e-filing process with 100% accurate calculations. This version of TurboTax is suitable for filing simple tax returns. You can start your tax preparation process by taking a photo of your W-2 form with a phone or personal device and then upload it.
  • TurboTax Deluxe: This TurboTax version lets you start your tax preparation process for free. You have to pay while filing your returns. Along with easy preparation, printing, and e-filing, TurboTax Deluxe checks for approximately 350+ tax deductions and credits and helps you maximize mortgage and property tax deductions. TurboTax Deluxe has an ‘ItsDeductible’ feature that can convert charitable donations to big donations. TurboTax Deluxe is priced at around $39.99, which you have to pay once you decide to file the returns.
  • TurboTax Premier: This version gives everything that the TurboTax Deluxe provides you. It costs around $59.99. You have to pay this fee when you file the returns. In addition to these, the TurboTax Premier covers stocks, ESPPs, bonds, and other investment income. Also, it manages rental property income and tax deductions. TurboTax Premier can automatically import investment income that includes the basic costs as well. This version of TurboTax can deduct appraisal fees, and points from your refinance too.
  • TurboTax Self-Employed: This segment provides assistance to independent contractors, business owners, and freelancers. It helps to keep track of mileage and expense effortlessly and ensures that you receive one-on-one answers about self-employment queries. TurboTax Self-Employed helps you uncover the industry-specific deductions that are related to your job. This version requires you to pay an approx $89.99 when you file your returns.
  • TurboTax Live: As the name suggests, this version lets you have live assistance while preparing your taxes. This is the latest version of TurboTax and lets you do your taxes and have a one-on-one review with a TurboTax EA or CPA before you decide to file your taxes. This version costs around $149.99, which you would have to pay while filing the returns. Also, you can get live tax advice from experienced tax experts who understand your unique situations and can help you file your taxes correctly.

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