Schedule C in non-business versions of Turbotax

[arseattle]

Just trying to clarify something.  I saw in other discussions that ALL versions of Turbotax -- I'm talking CD Download versions for Mac -- include all forms.  Does that mean the full version of Schedule C, including deductions and expenses and cost of goods, is actually present in the Deluxe version but just not supported with help and info? Or does it mean that the forms are there but none of the numbers entered will carry through the rest of my return? Or does it mean you can't even enter the expenses and things like that?

Thanks

[xmasbaby0]

You cannot prepare a Schedule C with the Deluxe version of ONLINE TurboTax.    But EVERY version of the CD/download software can be used to prepare a Schedule C.  All versions of the CD/download software can prepare all of the same forms, schedules and worksheets.  You just get more help in the interview screens if you upgrade to the higher versions.

[Critter-3]

ALL downloaded/CD programs can handle ALL the same tax forms.  The only difference is the amount of  interview screens ... the more expensive versions take you on a longer path to the same exact end. If you believe you need the extra "hand holding" then buy the more expensive program.   

[DoninGA]

All the TurboTax desktop editions have the same forms, schedules and worksheets.  So if you need to report self-employed income and expenses using Schedule C, assets associated with the business on Form 4562, Depreciation and Amortization or any other expense for the business, it will be supported in full.  Even if you use the Basic, Deluxe or Premier desktop edition.

[arseattle]

Wow . . three very quick, helpful, replies.  

I've been using Turbotax since it was first released as MacInTax and I'm pretty comfortable with doing all the forms without much of the help stuff and enter almost everything directly on the forms.  It's nice, when I'm done however, to have the program do it's fancy check . . .is that still included with the simpler versions?

The other thing is I just want to make sure that entries I make on Schedule C or Home Business and stuff like that are carried through the forms, that the math continues to be done even if I'm using a version without the "extra help."

Thank you all again for your help.

[Anonymous_]

The entries carry through to other forms.

You simply have to enter your data in Forms Mode on, for example, the Schedule C Worksheet.

[Critter-3]

ALL the downloaded programs work the same way ... just like a compact car and an SUV will both take you to the same destination they just look different.

Now as to entering things directly in the FORMS mode ... it is not recommended since you may miss things that would be brought to your attention in the interview mode, some entries can void the accuracy guarantee and you may be unable to efile.   If you just want to fill in the forms you can do it for free using the IRS free fill-in forms.  

[nwoodsxx]

I concur with the comments in this thread. I used to use TT Deluxe or Premier and tediously entered all my detail into its non-user-friendly screens (which I was actually transferring from an Excel spreadsheet). It dawned on me several years ago that Excel is SO MUCH EASIER to use as a tool for entering detail. That's when I started doing the detail work in Excel and using that file as my audit source (if needed, but never have). I just transfer the summary info into TT for the purpose of filing with the IRS. I've found this method to save a great deal of time and frustration, if you don't mind demoting TT from being your system of record.

[Mike9241]

ah but once a user enters everything they want in forms mode, they can switch back to step mode and go through everything to review what was entered and see if they missed anything. 

[VolvoGirl]

@nwoodsxx   Turbo Tax or  your tax return should not be your "system of record".  You need to make and keep your own good records and backup details, receipts etc.  You only need to enter the totals into Turbo Tax.   And when you transfer from the prior year all your info should be there and you only need to enter the amount for each category.  

What details are you entering?   I find Turbo Tax very easy to use and fill out schedule C.   You can import your info from Quicken or QuickBooks and other accounting programs.  I use Quicken but I manually enter my schedule C.   

[arseattle]

Thanks to all who replied, and those who added additional information.  My main question, basically, is about the way numbers/calculations carry throughout the forms.  IF I enter all my Schedule C information, and home business stuff, and 1099 info, etc., into a Schedule C form, but I'm NOT in the Home and Business version of Turbotax, does all the information still carry throughout the return and do all the calculations still work? I don't need the advice on the schedules but I like to enter things directly into Turbotax and want to make sure that it will work, regardless of the version I use.  So, regardless of program advice, will the program still check for errors and warn me about problems if I'm in, let's say, Deluxe, but doing Schedule C stuff? (I'm talking desktop versions only! Not comfortable putting all my personal/business/tax information on someone else's server.)

[VolvoGirl]

@arseattle  Yes all the Desktop versions have all the forms and all the calculations, etc.  Otherwise if they let you fill in schedule C your return would be wrong.   Scroll back up and  read the answers from Dec 2023.  About the only big difference is the Home & Business version lets you create  W2 and 1099NEC forms to give to your employees and contractors.