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kptx08
Level 2

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

I'll probably have interest or dividends to report as well.
7 Replies
Critter-3
Level 15

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

If you use the online program you MUST use the Premier version.  If you use the downloaded version any of them will work ... use Deluxe if you need a state return and Basic if you don't.

 

Desktop:

If you want to use desktop (CD/download) software then you can purchase it from TurboTax or a variety of retailers such as Amazon, Costco, Walmart, Target, Best Buy, etc etc. etc.    The software still needs MANY updates.

 

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

 

Online:

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

 

 

If you qualify  AND   if you wait until mid January  THEN you can use one of  the IRS FREE FILE options to file a fed & state return for free ... but you must be patient.    https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free

 

IRS Free File: Closed until January 2021

 

IRS Free File is closed for the 2020 tax season. Check back in January for Filing Season 2021 opening details.

For Filing Season 2021, you must make $72,000 or below to use IRS Free File partner offers.

 

 

 

VolvoGirl
Level 15

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

Sorry, if you have a Capital Loss Carryover you still need to use online Premier.  Or you can buy any of the Desktop programs.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

VolvoGirl
Level 15

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

Oh, but if you don't have any carryover Loss from 2018 to enter you can use Deluxe unless you have something else that requires Premier.

kptx08
Level 2

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

I was only using TT Premier previously due to stock buy/sell activity or capital loss carryover. I have no capital loss carryover from 2019 to use in tax year 2020. I'll have a minor amount (probably <$20) of interest/dividends that were reinvested automatically.

 

If I understand correctly, TT Deluxe has the same forms as TT Premier so I'll be able to report any interest/dividends. And, since no stock transactions, TT Deluxe should cover what I need?

 

@VolvoGirl

@Critter-3 

kptx08
Level 2

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

I use the Desktop versions, not the online version.

Critter-3
Level 15

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

Correct ... if you have no loss carryforward requiring the Sch D you can use the Deluxe version. 

VolvoGirl
Level 15

I used TT Premier in CY2019. I had a 2018 capital loss carryover to use in 2019. Still own stock but no buy/sell in 2020. Get Premier or Deluxe?

Even if you have Schedule D or any schedule or form you can use the Deluxe Desktop Version.  You picked the Online version on you post.  So you could have used Deluxe last year.

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