Yes, the software is updated yearly, so you have to buy the current version each year in order to file a new return for current tax year. See below for more details.
Do I need to buy a new TurboTax program every year?
https://ttlc.intuit.com/replies/3302065
If you are wondering about being able to access your 2016 return once you pay, then once you purchase Deluxe this year, you have access to that return through October 31, 2018.
How long will I be able to access my 2016 TurboTax Online return from your server?
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