Do I really need Turbotax Home & Business ?

I'm a long time user of TT for H&B because of rental properties and other businesses. In looking at the lists of forms supported by each TT product, I see the same list, including Schedule E's, etc. I don't use the step by step questions, nor do I need much, if any, advice. I typically just go to the display forms option and enter my info directly. Does TT Basic support ALL of the IRS forms and is the only difference between the versions the amount of software hand-holding provided?

Get your taxes done using TurboTax

All of the desktop editions can prepare the same forms.  They differ mainly by the amount of help and guidance and whether or not you need a state program.

 

The Basic Edition does NOT include a state program.  And it cannot import from ItsDeductible.

 

Desktop Deluxe comes in 2 versions--one that is a combo Federal and state product, and one that is Federal-only.  If purchased from TurboTax it is the combo Fed and state version.   If purchased elsewhere, you have to be careful which version of Deluxe you are buying.

Get your taxes done using TurboTax

Thanks for the quick answer. One last concern. Will the TT Deluxe import properly from a previous year's return created with TT H&B ?

Get your taxes done using TurboTax


@BradAlb wrote:

Thanks for the quick answer. One last concern. Will the TT Deluxe import properly from a previous year's return created with TT H&B ?


Yes.  All of the desktop versions can transfer-in a *.tax2018 data file prepared in last year's 2018 in any personal tax product.

 

As I mentioned above, if you go with Deluxe, be sure it's the right version of Deluxe if you also need a state program.

Get your taxes done using TurboTax

May I ask a question?  If you skip the step by step questions and enter on the forms are you able to efile?  Or have you been mailing your returns?

 

Heck, if you are just filling out the forms you might as well download the blank forms from the IRS and fill them out by hand for free.

Get your taxes done using TurboTax

First, I prefer the old fashioned paper filing. I haven't tried eFiling although I am still given that option.

Second, TT still transfers values automatically between forms and does other automatic calculations and determinations for you so that it's not the same as just filling out paper forms. In my case I find it easier to enter Income & Expense data directly from QB reports onto Schedule E's & C's.