Will turbotax deluxe handle a self employment tax return if it's a simple one and I don't need help identifying expenses?

Forum|Forum|7 years ago
June 6, 2019
2 replies
2 views

I used Home & Business last year but I'm a financial contractor and my business expenses are easily identified. Just need to know if Deluxe will allow me to enter a 1099 and a W2 and SE expense and properly calculate self employment tax. I'm about to purchase and just want to get the correct version.

TurboTax Deluxe Online

Best answer by

No. If you are using the online version of TurboTax, then you will need TurboTax Self Employed if you have business expenses. TurboTax deluxe will only handle Schedule C without expenses.

If you are using the online version of TurboTax, Self-Employed would enable you to enter self-employment income and expenses and maximize deductions geared toward self-employment. If you qualify, you may also be able to use the online Freedom edition of TurboTax that includes Schedule C. To qualify, you must have an AGI of 33,000 or less, be on active duty with the military and have an AGI of 64,000 or less, or qualify for the Earned Income Credit. To use the freedom version of TurboTax, go to the website below: http://turbotax.intuit.com/taxfreedom/.

The equivalent in desktop software is TurboTax Home and Business. Although all desktop versions include all forms and schedules, Home and Business was designed for self-employment and entering expenses, so it will be the most straightforward software to complete your tax return.

A

Anonymous

Answer

No. If you are using the online version of TurboTax, then you will need TurboTax Self Employed if you have business expenses. TurboTax deluxe will only handle Schedule C without expenses.

If you are using the online version of TurboTax, Self-Employed would enable you to enter self-employment income and expenses and maximize deductions geared toward self-employment. If you qualify, you may also be able to use the online Freedom edition of TurboTax that includes Schedule C. To qualify, you must have an AGI of 33,000 or less, be on active duty with the military and have an AGI of 64,000 or less, or qualify for the Earned Income Credit. To use the freedom version of TurboTax, go to the website below: http://turbotax.intuit.com/taxfreedom/.

The equivalent in desktop software is TurboTax Home and Business. Although all desktop versions include all forms and schedules, Home and Business was designed for self-employment and entering expenses, so it will be the most straightforward software to complete your tax return.

T

ttrv1719

Level 2

This is probably one of the most helpful things. I am new to filing taxes as a business. So, it looks like I can file schedule C and 1099s with this software. If I use the TurboTax freedom, can I at the same time include W2s because I also worked for other companies or would I have to do that separate?

G

gonzo91143

Level 2

will turbotax deluxe which I have purchased handle a self-employment tax return with itemized deductions and expenses

DoninGA

Level 15

@gonzo91143 wrote:

will turbotax deluxe which I have purchased handle a self-employment tax return with itemized deductions and expenses

If you purchased the 2021 TurboTax desktop CD/Download edition to install on your personal computer it supports entry of self-employment income and expenses on Schedule C.

The TurboTax Deluxe online web based edition will not support entry of self-employment expenses and you would need to upgrade to the Self-Employed edition.