Q. What is the difference between TurboTax Deluxe & Premier?

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What is the difference between TurboTax Deluxe & Premier?

Regarding tax software, TurboTax Premier and TurboTax Deluxe are two of the most popular options on the market right now, and both can help you file your taxes quickly and easily. But which one is right for you? And what is the TurboTax difference between deluxe and premier. This comparison article will break down the differences between the two versions so you can decide which version of TurboTax you’d like to use.

Difference between TurboTax Deluxe & Premier:
Knowing which version of TurboTax will work best for you and your needs is essential if you’re looking to do your taxes. Here’s a quick overview of what’s included in the two versions of TurboTax and who should consider using each one.

  1. Intuit TurboTax Deluxe- if you want to file federal and state taxes together, this is the right choice.
  2. Intuit TurboTax Premier- if you want extra help with investments or rental properties or need to download forms that aren’t provided by TurboTax (such as foreign tax forms), this might be your best bet. It also offers more guidance throughout the process than Deluxe does.
    The biggest drawback of TurboTax Premier is that it costs $40 more than Deluxe.
  3. TurboTax Deluxe may be a better option for someone doing their taxes since it includes everything they need without additional add-ons.
  4. TurboTax Premier may be the better option for someone hiring an accountant because there are additional features like Guidance through SmartLook access where customers can connect live with their CPA from any device at any time during their return - even on weekends.

If your income is over $100,000 or you have investments with a significant value, then TurboTax Premier might be the right choice for you. On the other hand, if your income is under $100,000 and you have no investments, you should go with either the basic version or the deluxe version of TurboTax.

Features in TurboTax Premier
Premier is for people with more complicated tax returns, such as rental income, self-employment income, a lot of deductions or credits, or who have children in college.

If you’re unsure which one to get, ask yourself how complicated your taxes will likely be this year. Are you planning on taking the standard deduction? How much money do you make each year? Do you own a house, car, or other property that needs to be accounted for on your taxes?

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A great rule of thumb is that if any of these apply to you, it might make sense to go with TurboTax Premier. The best part about using TurboTax is that you can always switch from one version to another later if needed.

Features in TurboTax Deluxe
• The ability to prepare, print and e-file your federal and state income tax returns.
• H&R Block Tax Software & Advice Included.
• Maximize Refunds.
• Fastest 1040EZ/A Tax Preparation Method Available.
• Support from in-house CPAs.
• TurboTax Premier includes many more features, including the ability to import investment data from Quicken or QuickBooks; it also includes five years’ worth of updates at no additional cost. This may be a better choice if you are an active investor or small business owner.

Mentioned benefits of the Deluxe edition include various preparation options and in-person consultations with a CPA through phone, email or in person if desired. This was a complete guide about TurboTax Premier vs. Deluxe.






Nov, 2022

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