I own rental property and am having a CPA do the schedule E for it already. which turbotax version should I use for rest of return?

[mesquitebean · Accepted solution]

How do you plan to use the Schedule E your CPA is preparing?    You will still need to go through the Schedule E rentals interview when you prepare your return.    Do you plan to use your CPA's version as a guide to generate the Schedule E in your TurboTax return?  There may be other forms besides the Schedule E such as depreciation schedules, etc. to enter into TurboTax.

But to answer your question:

In Online TurboTax, only Premier and higher can handle a return that has a Schedule E.   In Online TurboTax a state return has an extra 44.99 preparation fee.   If you choose to pay fees out of your Federal refund, there is an additional 39.99 service fee (44.99 for California filers.)

In desktop TurboTax (CD/download), all editions can handle a return with Schedule E, but some vary in other features.  For instance, Basic Edition does not include a state program and cannot import from ItsDeductible.

Desktop Deluxe comes in 2 versions--one that is Federal-only and one that is a combo Federal and State.  If purchased from TurboTax it is the combo Fed and State version.

Desktop Premier and Home and Business both include a state program.

In desktop editions there is a 24.99 fee to efile a state return (free for New York).  There is no fee to print and mail the state returns.

[mesquitebean]

@judithhouston
There was a typo above that you may have been emailed.  The price of an online state return increased this week to 44.99.  I've adjusted that above.

[judithhouston]

Thank you. Entering the Schedule E info. completed by the CPA, would probably be the easiest. I'm responding to a 50% off e-mail, btw.

[mesquitebean]

@judithhouston
You're welcome.  You can't just enter the Schedule E your CPA prepared.  You'll have to go through and answer all the interview questions in the rental income/expense section so that TurboTax can generate a Schedule E.  You can refer to the paperwork he/she prepared.

  I can't help you with anything to do with an email.  Be sure it is a legitimate offer from TurboTax and not a scam, and use the directions to be sure your discount is applied.  I'm asking the Moderators if they know anything about an email offer.  I'll post back when I hear something.

Another difference between online and desktop products is that the desktop editions have Forms Mode for viewing/printing/editing forms during preparation which comes in handy for troubleshooting, etc.  Online editions do not have that feature.