Can the 2016 tax year DELUXE Version of TT handle stock sales???

[u82lxe]

Had to get the Premiere version of software for 2015 taxes. Will the Deluxe version handle reporting of mutual fund capital gains and sale of stock shares?

[Opus 17]

Turbotax Online has always required Premier for Schedule D.

Turbotax Deluxe installed on the desktop had that feature for 2015, and will for 2016 (we are told).  It was removed as a marketing move in 2014 and a lot of people complained so it was restored for 2015.  Turbotax Premier on the desktop also has stocks, of course, with a more detailed and helpful interview, which may be useful for some taxpayers.

(This is one more of the reasons why the Desktop product is superior to the Online product, even though online is apparently 80% of their sales.)

[Critter]

The desktop editions all handle the same forms, but the differences are mainly due to the amount of help and guidance.   Basic Edition does not have a state program included and Deluxe can come either with or without a State program (if purchased from TurboTax, it includes one state program).   Deluxe or higher is required to import from ItsDeductible.

The 2016 Desktop software (CD/Download) can be purchased from TurboTax at the following link :

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

You can efile up to 5 federal returns for free however there is an extra cost to efile each state return (mailing them is free).

In the Online editions, however, form limitations exist.  Online Premier or higher is required for Schedule D and E and for reporting K-1's. In the online version, Home and Business is required for Schedule C or F.

The 2016 Online version can be purchased here:

https://turbotax.intuit.com/personal-taxes/online/

Make sure to purchase the correct program since the Online program has limitations. Here is a short list of some common tax situations and the online products that now uniquely support them:

·         Itemized Deductions (Schedule A/1040)- Deluxe, Premier, and Home & Business

·         Capital Gains or Losses (Schedule D) - Premier and Home & Business

·         Rental Income (Schedule E) - Premier and Home & Business

·         Net Profit from Business (Schedule C-EZ) - Deluxe, Premier, and Home & Business

·         Profit or Loss from Business (Schedule C) - Home & Business

The online program only completes one return per user ID and the state program is an added cost however you can efile the federal and state returns for free.