I am trying to figure out which software is best to file 2022 tax if I have income from W-2, 1098, have business deductions, own house? Thank you.

[DoninGA]

If you have self-employment business income and expenses as a sole proprietor/independent contractor then you will need to use the TurboTax Self-Employed online edition based on the requirements you posted.

The TurboTax online editions for tax year 2022 will be available in early December.

If the TurboTax desktop CD/Download editions are used then any of the desktop editions will suffice.  However, it is recommended that you use the Home & Business edition for your tax return.

The TurboTax desktop CD/Download editions for tax year 2022 are available on this TurboTax website - https://turbotax.intuit.com/personal-taxes/cd-download/

If your business entity is a Partnership or has incorporated to a S Corp or C Corp then you will have to use the TurboTax Business Edition.  The Business Edition can only be installed on a Windows based personal computer, not on a Mac or online.  The Business Edition cannot be used to complete a personal tax return, Form 1040.

Go to this TurboTax website for the 2022 Business Edition - https://turbotax.intuit.com/small-business-taxes/

[xmasbaby0]

Please explain "business deductions" since that will have a lot to do with the reply.   Are you self-employed?  Or are you a W-2 employee?  If you are a W-2 employee you cannot deduct job-related expenses on a federal return.

If you are self-employed you will need online Self-Employed, or any version of the CD/download in order to enter your business expenses on a Schedule C.

But.... do you have an s-corps or c-corps, or partnership?   If so, you need TurboTax Business for the business return, and other software for your individual tax return.

[premalbhatt247]

I file joint return. I have w-2 income and my wife is a freelancer and gets 1098 at the end of year.

[DoninGA]

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@premalbhatt247 wrote:

I file joint return. I have w-2 income and my wife is a freelancer and gets 1098 at the end of year.

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If she is a freelancer with her own business then she would be receiving a Form 1099-NEC for the income she received from her clients.  The Self-Employed online edition would have to be used.  Or any of the desktop editions.

[xmasbaby0]

@premalbhatt247 If you are a W-2 employee you do not have "business expenses" to enter on a federal tax return.

Sorry---W-2 employees cannot deduct job-related expenses on a federal return.  Job-related expenses were eliminated as a federal deduction for W-2 employees by the tax laws that changed for 2018 and beyond.  Your state tax laws might be different in AL, AR, CA, HI, MN, NY or PA.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

If your spouse is a freelancer, then it sounds like she will receive a 1099NEC in January--not a 1098.   You will need Self-Employed online software for her income.   Your own W-2 income and homeownership data can be entered using that software as well.

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

[premalbhatt247]

Thank you. So self-employed edition would allow me to report my W-2 income+business deduction for my wife+ deduction related to house ownership?

[xmasbaby0]

Yes.   All of those things can go on Self-Employed.   Or.....any version of the CD/download will work too.

[premalbhatt247]

Thank you everybody for responding to to my question. Now I have clear understanding of which software I need for my 2022 tax return.