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Which TurboTax product should I use?
I'm helping my friend do their taxes.
- They are a remote/home office worker for their employer since there is no local office.
- They rent out a bedroom sometimes to local college students
Which product is right for them?
Also they have free access to TT Self Employed through a link.
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January 2, 2020
7:35 AM
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Get your taxes done using TurboTax
Since they have a rental, they would need to use at least Premier. If they can use TT Self-Employed through a free link that will work fine for them. Self-Employed covers everything.
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January 2, 2020
7:55 AM
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Get your taxes done using TurboTax
What product do I use if I sold my house? It wasn't rental. I bought Deluxe but I can't seem to find selling a house as a section.
April 3, 2022
3:53 PM
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Get your taxes done using TurboTax
You will need Premier to report capital gains. If this was your primary home and you know that you can exclude the entire gain, and you did not get Form 1099-S, then you don't have to report the sale.
You do have to report the gain of a second home but you can't take a loss.
TurboTax Online
- Click on Federal > Wages & Income
- In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other. If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far. Click on the Add More Sales link.
- If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX? Click the Yes box.
- On the screen, OK, what type of investments did you sell? mark the Other box and click Continue.
- When you get to the screen, Now we’ll walk you through entering your sale details enter the details of the sale. You will be able to select the type of investment in the first box (second home, land, etc.)
- Enter the requested information and click Continue when done.
April 4, 2022
4:32 AM