When you use Online TurboTax, you get one return per fee. Each return needs its own account and user ID. If you use the same account and user ID for a second return, you overwrite the first one and lose it forever.
When you use Desktop TurboTax, which you install from a CD or download to your own hard drive, you can prepare and e-file multiple returns for the cost of the software. You can e-file up to 5 Federal returns—more if you mail the additional ones. If you have multiple returns to prepare for family members, Desktop is more cost effective.
Desktop --unless you specifically buy federal Deluxe only from a retailer-- will include the software for one specific state. You can prepare as many returns for that state as the number of federal returns you prepare. E-filing state returns is an extra fee which can be avoided by printing and mailing the states. Additional--other--state software is an additional fee for the software.
Yes. In the Online version you need to set up separate accounts. Online is only good for 1 return per account. But you can use the same email address for 5 accounts. How to start another return in the Online version
The Desktop CD/Download program can do unlimited returns. Start a new return, go to File-New. Be sure to save frequently, go up to File-Save or Save As. Save each return with a name you can tell apart from another one. Especially if another return has the same name or initial. Like a father and son. Or if you have the same name the second return might overwrite the first one.