Which version do I need?

Forum|Forum|1 year ago
February 13, 2025
3 replies
12 views

HI, I have no clue which version to buy this year and their product comparison is unhelpful.

I will have employment income, moving expenses, medical deductions, investment income (all T slips), and capital gains.

Anonymous

The big question is are you more a user of Desktop or Online software?

If you prefer TurboTax Online, you can have access to the description of each edition on this page. For your situation, we think Premier should be the proper one for you (see screenshot).

If you prefer TurboTax Desktop, you also have the Premier Edition on this web page.

Thank you for choosing TurboTax.

Royal KAuthor

Level 2

I use the desktop version.

Anonymous

TurboTax Desktop-Basic is for a regular basic return with T4's and for those who were on social assistance.

Standard:

Covers 400+ credits and deductions
Optimizes credits for spouses and dependants.

Premier: Covers stocks, bonds, ESPs, and mutual funds

Covers rental property income, expenses, and refinancing

Home & Business: Covers self-employed income and taxes

Maximizes business deductions

If you have other things which aren't listed that you need to claim, please let us know, and we will direct you on which TurboTax Desktop product will best suit your needs.

Thank you for choosing TurboTax.

brubrubru

Level 2

Hi,

I'm going in circles trying to figure this out so l thought I'd give a try here.

I've always used TurboTax Standard (desktop) for myself, my husband, my in-laws, my mom and my sister. All very straight forward - T4s, T5s, CPP, etc.

Then hubby and I acquired a foreign property which generates rental income and I started a small business (sole-proprietor). So for us, I went to an accountant for the past four years.

But now I'm going to start doing ours again with TurboTax. Do I continue with the Standard and within that I'II find the additional tax forms for foreign income and a small business? Or do I need to jump to the Home & Business version?

If yes to H&B, can I still complete my families personal tax returns with this version?

Thank you in advance for your help.

TurboTax_Susan

Level 15

@brubrubru While we recommend Home & Business for Self-Employment Income, TurboTax Standard Desktop still includes the T2125 Self-employment form.

brubrubru

Level 2

Thank you so much.

So if I use the Home & Business version for my more complex tax needs, can I still complete my families tax returns with this same version (as stated, theirs are very simple)? Or do I have to buy the Standard version in addition to the H&B version?

TurboTax_Susan

Level 15

@brubrubru All version of TurboTax Desktop have the same forms, it's just the EasyStep interview is different in each one. Home & Business has everything that the other versions have, but with an enhanced interview for Self-Employment income.