Hello,
I had some net capital losses (in stocks) this year and I am wondering which of the following TurboTax products can I use for tax-loss harvesting to be performed by TurboTax?
* TurboTax PREMIER (download / desktop version; apparently is not offered online)
* TurboTax PREMIUM (online)
I know that TurboTax Premier (desktop) does the job, however was wondering whether I can get away with using TurboTax Premium (online) since it sounds like an easier online process?
Thanks a bunch!!!
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In the Online version you need Premium. Premium is replacing Premier and the Self Employed versions.
For the Desktop CD/Download programs you can use ANY version (even Deluxe). All the Desktop programs have the same forms. You just get more help and guidance in the higher versions.
Most of us here recommend buying the Desktop installed program.
The CD/Download Desktop you buy and install the program, which can do unlimited returns. The returns are only saved on your computer and can not be accessed from anywhere else. And not saved at Turbo Tax. So Be sure to save Frequently and make backups. You get 5 federal efile for free. In Deluxe and above you get 1 state PROGRAM download to prepare unlimited state returns (in that state). Each state return including the first one is $20 early or $25 to efile or you can print and mail the state for free. The Desktop programs do not have the expert help that is available to add to Online versions.
Desktop also has many other features and advantages over the Online version. You can do more than 1 return. You can see and enter into the actual forms. It has a What-If worksheet. And you can use a lower version because all the Desktop versions have ALL the same forms. You just get more help in the higher versions. In online you have to upgrade to enter certain kinds of income. Like Premium for investments.
And the Desktop program is always available even after the year ends. Which is good if you ever need to amend your return after online website is closed or get audited and need your tax records.
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