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For more information, see: Error 1603: "A fatal error occurred during installation or updating".

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Click the link to check that your device meets minimum system requirements.
See the Troubleshooting dropdown in this article for Microsoft's .NET Framework Repair Tool and a System File Checker: Troubleshooting problems with Windows Installer and the Microsoft .NET Framework
How do I update my TurboTax CD/Download software program?
Manually Update TurboTax for Windows Software (Basic, Deluxe, Premier, Home & Business)