@ Asnman wrote:
Can I import last year's Turbotax file, prepared w/CD version of Turbotax, into Turbotax Online? It has all historical IRA contributions, etc. that I don't want to lose.
Used Turbotax Deluxe on Windows 10 PC. When I tried Turbotax Online, it only gave me the option of uploading a .pdf copy of my previous year's return.
EDIT NOTE: Additional product information added to this answer 3/28/2021 at 9:40 PM Pacific.
Yes, if you have the *.tax2019 data file from last year's return, you can transfer it into a 2020 Online return. But if you already started a 2020 online return, then you'll have to clear and start the 2020 return over in order to do the transfer. Here's how:
- With your 2020 online return open, go to the left menu column, and click on TAX TOOLS, then TOOLS.
- In the Tools window, choose "Transfer last year's TurboTax return from your computer."
- It will tell you it will clear your return and ask "Are you sure?" If you agree, choose "continue".
- On the next screen, which says "Transfer Last Year's TurboTax Return", use the Browse feature to point TurboTax to the location of your *.tax2019 data file on your computer, then continue to do the transfer.
NOTE:
If you have never used Online TurboTax before, be aware that Online Deluxe is not as fully-featured as the desktop Deluxe version.
- Online Deluxe cannot handle Schedules D, E, or F. And it cannot handle a Schedule C with expenses, or enter a K-1.
- And the online editions do not have Forms Mode like the desktop product.
- Unlike the desktop product, the online product can only prepare 1 Federal return per account per tax year. The desktop editions can prepare multiple returns.
- There is an extra preparation fee for a state return in the Online product. A state program may be included in some of the desktop products. Deluxe desktop (CD/download) comes in two versions--with state or without state.
- In the Online products, the fees are for preparation, and free efiling is included.
- In the desktop editions one can efile up to 5 Federal returns for free. There is a 24.99 state efile fee. There is no state efile fee for New York state and no fee to print and mail the state returns.
