Premium or Premier

Forum|Forum|1 year ago
January 20, 2025
2 replies
6 views

I need to file self employment with expenses and rental property income/expenses. Which program do I need? I keep seeing many different answers.

One source said Premium is good for self employment.

One source said Premium is good for self employment but only if no expenses.

One source said Premier is not good for self employment at all.

One said Premier is good for self employment with expenses.

One said I needed Home & Business.

I think all sources said both were good for rental property income/expenses.

Which one is it? I've been using Home & Business but was reading that I don't need that level and also read that 2024 software is very glitchy and problematic. Is anyone else reporting issues?

xmasbaby0

Level 15

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses. With desktop download software, you can prepare a Schedule C with any version; you get more help in the interview screens with Premier or Home and Business.

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

If you live in a state with a state income tax, you might need to make estimated payments to your state.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

DoninGA

Level 15

If you are going to use the TurboTax 2024 online web-based editions and need to report self-employment income and expenses then you must use the Premium online edition - https://turbotax.intuit.com/personal-taxes/online/premium/

If you are going to use the TurboTax 2024 desktop editions installed on a personal computer, Window or Mac, then any of the desktop editions can be used to report self-employment income and expenses. However, the Home & Business desktop edition is recommended, it is NOT required - https://turbotax.intuit.com/personal-taxes/cd-download/