Which Version of TurboTax Software Do You Need?

The tax season is just around the corner, did you get your tax preparation software yet? If not, do you know which software you want to use if it’s the first time you use a tax preparation software to file your income taxes? When I posted the tax software giveaway last week, I also included a poll later asking people which software they are using or want to use.  The result so far shows 60% of the respondents chose TurboTax. But there are several versions of TurboTax, which is the right one for you.

TurboTax has an online comparison page which lists features of each product to help you choose the right one . Highlights of each version are as follows:

  • TurboTax Federal Free Edition – 1040EZ & Simple Returns
    - FREE preparation, FREE printing, and FREE efiling for your simple tax return. Learn more about TurboTax Federal Free Edition.
  • TurboTax Deluxe (the version I am giving away) – Maximizes Your Deductions
    - Searches your tax return for over 350 tax deductions
    - Helps you get full value for donations for a bigger tax refund. Learn more about TurboTax Deluxe.
  • TurboTax Premier – Investments & Rental Property
    - Calculates gains and helps you deduct investment losses
    - Searches for tax-saving rental property deductions. Learn more about TurboTax Premier.
  • Home & Business – Personal and Business Tax in One
    - Uncovers refund-boosting business write-offs
    - Finds industry-specific deductions for bigger tax savings. Learn more about Home & Business.

More on 2010 Tax Software Deals.

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3 Responses to “Which Version of TurboTax Software Do You Need?”

  1. Tax |  Oct 18, 2010 at 9:16 am

    very informative article