I have been using TurboTax Home & Business desktop, which I purchase at Costco every year. I just finished closing my self-employed business. It had no earnings this year. I just manually filed my business's final state tax return for the business (California Form 568), which is separate from my personal tax return.
I have two main questions.
1. In the future, will I be able to downgrade to Premier, since I will no longer need to do the Schedule C? Will TurboTax Premier be able to import my prior year's tax data from Home & Business and carryover things from it such as my carried-over investment losses, etc?
2. If I can use Premier, then can I use Premier for tax year 2024, or do I need to use Home & Business for one final year to officially close my business on my personal tax return for Federal & State? (That would mean I need to wait until tax year 2025 until I can start using Premier.)
