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New Member
posted May 31, 2019 6:52:59 PM

Which TurboTax to report a normal IRA distribution?

Our IRA / ROTH IRA are a mix of stocks, mutual funds and ETFs. Cost basis, earnings and gains/losses aren't tracked for tax purposes.  2016 is the first year we have taken a distribution of any type.

Can I continue to use Deluxe for tax preparation or do I have to get Premier?

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1 Best answer
Level 13
May 31, 2019 6:53:05 PM

The main functional difference between online Premier and Deluxe is that Premier supports the sale of securities while Deluxe does not.  If you have no security sales from after-tax accounts I see no benefit to moving up to Premier.

3 Replies
Level 15
May 31, 2019 6:53:02 PM

Any of the TurboTax 2016 desktop CD/Download editions can be used to report a distribution from a tax deferred retirement account reported on a Form 1099-R.  So you can continue to use the Deluxe desktop edition.

Level 15
May 31, 2019 6:53:04 PM

And you can enter a 1099R into all the Online internet versions including the Free Edition.

Level 13
May 31, 2019 6:53:05 PM

The main functional difference between online Premier and Deluxe is that Premier supports the sale of securities while Deluxe does not.  If you have no security sales from after-tax accounts I see no benefit to moving up to Premier.