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Correct Product(s) to buy

Good morning!

For all who answered on my question regarding avoiding underpayment penalties, I thank you again.  This message is a follow-up and I thank you for answering these questions.

I have 3 timeshare units which I rent through VRBO I have always used "deluxe" edition. 

 

My takeaway for what I am reading in the earlier replies is that I need to move up to the Home and Business edition to handle the estimated penalty issue (Form 2210).   Will the Home and Business edition also cover me for the rental income and minimal expenses?

 

I also have a Trust which is ending the second year and I assume I cannot avoid buying the separate Business product edition which specifically lists estates and trusts on the cover in order to complete the Form 1041?

 

Thank you all for your time!

Tp

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1 Reply
PatriciaV
Employee Tax Expert

Correct Product(s) to buy

Yes, TurboTax Home & Business has expanded interviews and specific On Demand Guidance for Schedule E (Rental and Royalty Properties) that you may find helpful.

 

You are correct. Form 1041 for Trusts and Estates is available only in TurboTax Business, a separate program from the individual return products.

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