Wife and I (joint filers) owned 20% of our son and daughter in law's California home, which was sold last year; wife and I received our 20% proceeds, son's family used theirs to purchase a house in Oregon. For my wife and my tax return for 2021, what version of TurboTax should we use to be sure that federal and Calif. State tax reporting and all are covered?
Yes, premier is a step up. You are fine. For future reference, you can see all the forms and products here, just scroll down.
Since the home was not your personal primary residence, you will report it as a second home in the Investment section of the Premier Edition.
What you do with the proceeds is irrelevant.
It looks like we've loaded up TurboTax Premier, rather than Delux. Will that still work for us?
Yes, premier is a step up. You are fine. For future reference, you can see all the forms and products here, just scroll down.