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Level 1
posted Dec 5, 2024 5:06:23 PM

Basic Turbotax

If I buy 2024 Basic Turbotax and that's all I need, but have oil royalties and will be required to report on schedule E. Will Basic let me enter on schedule E??

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1 Best answer
Level 15
Dec 5, 2024 5:17:14 PM

The Basic desktop edition supports Schedule E.  All the TurboTax desktop editions have the same forms, schedules and worksheets.  You only get more help and guidance with the higher priced editions.

 

Go to this TurboTax website for the desktop editions forms supported - https://turbotax.intuit.com/personal-taxes/irs-forms/

3 Replies
Level 15
Dec 5, 2024 5:15:56 PM

Yes.  You don’t get a state program with Basic and maybe can’t import from its Deductible in Basic.  But All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

Level 15
Dec 5, 2024 5:17:14 PM

The Basic desktop edition supports Schedule E.  All the TurboTax desktop editions have the same forms, schedules and worksheets.  You only get more help and guidance with the higher priced editions.

 

Go to this TurboTax website for the desktop editions forms supported - https://turbotax.intuit.com/personal-taxes/irs-forms/

Level 15
Dec 5, 2024 5:18:00 PM

Here’s a comparison.  All the higher things are just recommended not required suggestions.

https://turbotax.intuit.com/personal-taxes/compare/desktop/