Difficult Changes in Circumstances, Which 2023 TT product should I buy?

[CindyKR]

I have used the CD version of TT Home and Business for years because my spouse had a small business. But, I was suddenly widowed in Nov 2022 and could not participate in the business after that. So, I did the final business tax return for 2022 to close the business.

For 2023, I had only a very small pension, interest from savings, and will do Traditional to ROTH conversion before the end of the year, hopefully. I had no earned income.

I do not know what I will be doing in 2024. I have considered working for myself, but don't know, yet. 

I am wondering if there will be any issue if I get 2023 TT Basic, Deluxe, or Premier (not sure which can cover a conversion), or if I will lose information I might need if I then need the Business version for 2024.

If I don't need to keep using the Business version, can you tell me which product would cover the conversion? I've never used Basic. I do not have dependents or rental property and will file Single.

[Anonymous_]

You should be able to use any version since each desktop version contains all of the forms.

[SteamTrain]

..The BUT...is, that if you are going to use the Desktop software, and if you need to file a state, DO NOT buy "Basic" since you have to pay extra for that state software.  Careful with Deluxe too, since some 3rd party Deluxe offerings are without a free state downoad....for folks who live in a state without an income tax)) .

E-filing the state, in all cases except for NY, cost an extra $20 or $25.

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If you decide to use the "Online" software, you always have to buy the state (unless you happen to be one of the very few people who can use the "free" version)

[CindyKR]

I forgot. I have to use 2 states, I think, because I have a pension from another state other than the one I live in. Does that matter? I usually buy from either Amazon, Best Buy, or Walmart.

[DoninGA]

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@CindyKR wrote:

I forgot. I have to use 2 states, I think, because I have a pension from another state other than the one I live in. Does that matter? I usually buy from either Amazon, Best Buy, or Walmart.

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Just because you receive pension income from a different state does not mean you have to file a state tax return for that state.  In 2023 if you never lived in or worked in the other state you do not file a state return for that state.  The only time you would file the other state return is if there were state income taxes withheld for that state from your pension.  Then you would file a nonresident return for that state reporting 0 state income and get a full refund of the state taxes withheld.

The Form 1099-R that you receive for the pension will show federal and state taxes withheld (if any).

[CindyKR]

Ok. Maybe I'm confused because I've had income from that state before. And, our state taxes us on it, even though the pension state does not. So, it is a hassle. Thanks for your help!