Schedule D and TurboTax Deluxe 2020

[starbase1999]

For the past several years, the TurboTax site says that we need to buy Premier to file schedule D capital gains and losses.  Each year, I've bought TT Deluxe and filed cap. gains and losses successfully using the desktop version. 

There is confusion each year about this.  Before I purchase Deluxe again this year, I want to be sure that 2020 Deluxe works the same as 2019 and 2018 Deluxe in terms of handling schedule D and cap. gains and losses.

[tagteam · Accepted solution]

The answer to your question is "Yes". There is a rather marked difference between the desktop and the online versions of TurboTax.

TurboTax Premier and Home & Business merely provide "Additional Help" (see screenshot) with respect to investment sales, etc.

[Critter-3]

Yes ... look at the actual word they use ... on the downloaded program the Premier is RECOMMENDED  but it is NOT required ...  can we say "upcharge" opportunity by marketing department ???

[starbase1999]

Thanks for the replies. I feel more confident in purchasing 2020 Deluxe again this year.

I wrote a comment on Amazon last year about 2019 Deluxe after I bought it, letting everyone know that Capital D is enterable on Deluxe. I also said then and I say again now, Intuit should put back the form grid basically saying which form is enterable in which version of TurboTax. That’s the way it used to be about 5 years ago.  

[Critter-3]

Since all forms are included in all downloaded programs the same list is posted online  for each product ... back in 2014 they tried to limit the forms like the Online version is but they got such blowback they have never done it again.   They do try to upsell you by RECOMMENDING a higher version but it is NOT required.

https://turbotax.intuit.com/personal-taxes/cd-download/

[starbase1999]

Are all forms available on all online and desktop versions of TT?   I have the desktop Windows version of Deluxe for over 10 years.

If all versions have all forms as you said, why buy Deluxe if Basic will allow entry as well?  By entry, I mean it does ask me step by step instructions in Deluxe which generate Schedule D vs. direct entry into the form.

[tagteam]

I am not sure what you are asking, but the desktop versions have all of the forms.

If the particular income, deduction, credit, etc., screen does not appear in the interview mode in an online version, then you need to upgrade to a "higher" online level of the product.

If the particular income, deduction, credit, etc., screen does not appear in the interview mode in a desktop version, then you can typically use Forms Mode (not available in the online versions) to enter the item(s).

The Basic desktop version does not include a free state return (if you need one) while the Deluxe version (sold through Intuit) includes a free state return.

[VolvoGirl]

Technically Desktop Deluxe and above include 1 free state PROGRAM download to prepare unlimited state returns in that state.  Then each state is $20 to efile (goes up to $25 in March).  Basic does not come with the state program.  And if you buy Deluxe in the stores it comes 2 ways.....Deluxe with a State and Deluxe without state for states that don't have an income tax.  So watch what you buy.  It should say Federal + Efile + State.

All the Desktop programs have all the same forms.  You do get more help in the higher versions.   Oh, but Basic does not import from It's Deductible and maybe one other thing.

[starbase1999]

I remember the whole debacle about 5 or so years ago that forced me to upgrade to Premier after purchasing desktop Deluxe when it would not allow me to do my capital gains.  I believe back then that they reimbursed me the difference since they basically admitted that they were misleading.

I'm going to do what I've done each year since 2010.  I'm buying  Windows Desktop TurboTax Deluxe with State e-file.  Since Deluxe continues to feature interview questions for Capital Gains, then I have no problem with continuing to use it. 

I just wish Intuit did not have to be so cryptic in trying to convince people that they need, or as another poster says they recommend Premier for Capital Gains.  It is misleading.  I've told customer service that on several occasions.  I'm also a shareholder of Intuit and want more transparency about their products considering they're a company that so many people trust.

[tagteam]

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@starbase1999 wrote:

I just wish Intuit did not have to be so cryptic in trying to convince people that they need, or as another poster says they recommend Premier for Capital Gains.  It is misleading.....

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I agree with you, almost unequivocally, but there is a wide variance in the level of competency among all of Intuit's TurboTax users and some of them absolutely need the "Additional Help" provided by Premier (as opposed to Deluxe). 

[tocguy]

One has to laugh at the irony here. I just discovered that TT 2020 Deluxe has no Schedule D section ... at all. Instead the pgm states to check back later because that section is "still under development". If one purchases software one expects it to be complete. I would like to know where it is advertised that the TT package is sold as incomplete. Moreover, the pertinent question now becomes "When will Schedule D section" be made available via update?

Disappointing, this is.

[Critter-3]

The 2020 program (Online and the Downloaded versions) are both under construction right now and will not be fully functional until the IRS issues the specs and approves the programming.  Even my professional program is still not fully functional and will not be until sometime next year.   The only reason the DIY companies put out the program early is to secure market share before the season starts ... this happens every year without exception.  ALL of the downloaded versions have all the same forms so when the unfinished sections are working then you will be able to access those areas.  

[VolvoGirl]

The program can not be complete when you buy it.  The year is not over yet.  There will be many updates to come.  Even The IRS has not finished releasing all the forms and calculations yet.

Will this help?  Says Jan 14 for Schedule D

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_windows_individual.htm... .

[macuser_22]

This is an early beta version since the IRS has not yet released all of the 2020 forms electronic specifications  as if yet.   Many are still in the draft state at the IRS.

Tax software is never complete until Jan or Feb due to late tax law changes and the slow speed for the IRS that must write the specifications and then approve of the software before it can be released.    Even professional software is not complete yet.

[tocguy]

It's unfortunate that the tool is not adequately available to support development of year-end financial elections that are only allowed once/year, e.g., Roth conversions.