topic Can i use deluxe version for rental property income? in Investors & landlords

Can i use deluxe version for rental property income?

peterenee — Thu, 06 Jun 2019 09:32:07 GMT

The Deluxe version of TurboTax Online does not support Sc...

JohnR1 — Thu, 06 Jun 2019 09:32:09 GMT

The Deluxe version of TurboTax Online does not support Schedule E, Supplemental Income and Loss, used to report a residential rental - you would need either Premier or Self-Employed version to include rental income and associated deductions.

Re: The Deluxe version of TurboTax Online does not support Sc...

donanice — Sun, 07 Feb 2021 16:13:42 GMT

I don't understand why Deluxe will not handle rental properties. I have used TurboTax Deluxe for the past 5 years 2015-2019 and have complete access to rental forms and data. Why is 2020 Turbo Tax Deluxe no longer useful for rental income???

Re: The Deluxe version of TurboTax Online does not support Sc...

PattiF — Sun, 07 Feb 2021 18:12:36 GMT

You will need to use the Premier version of TurboTax to report rental income. The poster earlier in this thread in 2019 mentioned that the Deluxe version did not support Schedule E, Supplemental Income and Loss and that Premier or Self-Employed was needed for rental property. Premier will ask all of the questions to help find all of the expenses for a rental property.

Re: The Deluxe version of TurboTax Online does not support Sc...

dajen — Sun, 07 Feb 2021 19:56:26 GMT

It seems to me that I have used the Deluxe version for several years with no issues. I do see notations that Premier will provide "additional assistance" for rental income. I will purchase the 2020 Deluxe version to see if it carries over my 2019 return information and report back. I can provide a printout showing my 2018 Deluxe version showing rental income and includes depreciation and all the necessary forms.

Re: The Deluxe version of TurboTax Online does not support Sc...

DoninGA — Sun, 07 Feb 2021 19:59:34 GMT

@dajen wrote:

It seems to me that I have used the Deluxe version for several years with no issues. I do see notations that Premier will provide "additional assistance" for rental income. I will purchase the 2020 Deluxe version to see if it carries over my 2019 return information and report back. I can provide a printout showing my 2018 Deluxe version showing rental income and includes depreciation and all the necessary forms.

The answers to the questions presented were all pertaining to the TurboTax online editions.

The TurboTax desktop CD/Download editions all support entry of rental income and expenses on a Schedule E.

Re: The Deluxe version of TurboTax Online does not support Sc...

VolvoGirl — Sun, 07 Feb 2021 20:00:08 GMT

The answers are mixed up. Yes the Desktop CD/Download program Deluxe has all the forms. All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.

The online web versions do not. You need Online Premier to enter rentals and investments.

Oh, there was one year 2014 where they tried to make the Desktop programs like online so you needed the higher version. But that didn't work out. This is a new forum layout. Some posts that have June 2019 dates are really older posts from the old forum that got moved over. So they might be for prior years and not current info. When they migrated over the dates got changed to June 2019. And the screen shots got deleted.

Re: The Deluxe version of TurboTax Online does not support Sc...

dajen — Sun, 07 Feb 2021 20:06:27 GMT

Thank you for the clarification. Just think that it is not made clear that the Deluxe version can be used for rentals. I only have one rental and it works fine. For those having more rentals, the Premier "might" be a better choice.