What's the difference between the Online 'Self Employed' version and the Desktop 'Home and Business' version? I would like to know every difference between the two.

[steve25]

TurboTax for Mac has always performed poorly – especially when importing microtransactions from investment services like Betterment. Hoping this year the online version can be a complete replacement for the desktop software.

UPDATE: Original question said "Premier Plus" vs. "Self Employed" online version

[Opus 17]

Premier online does not include Schedule C for self-employment.  I don't know if there is any difference in ability to important transactions -- all the programs are based on the same engine so I would expect that the ability to import investment transactions would be the same in both Online and Desktop versions.

[Critter]

See this TurboTax support FAQ - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2963870-how-do-i-enter-a-large-number-of-stock-transactions-in-tur...>

[steve25]

Thanks everyone! A few things to clarify:
1) Sorry for my type-o in my question! The second part of it should read "I want to know every little difference between the two offerings".
2) In seems that the online version DOES do schedule C this year - which is why I'm so intrigued. Sorry Opus 17, but I believe your answer is out of date.  
3) For other looking into the same type of situation as me – services like Betterment definitely do 1000+ transactions – especially with automatic tax harvesting involved - so the summary options as mentioned in the support article seems to be the way to go – but I wonder if you can 'attach' the list of transactions – I think in the past I had to mail that supplement in.
Thanks for answering so far!

[Critter]

The ONLINE  Deluxe & Premier will complete a Sch C  HOWEVER if you have ANY expenses to deduct you MUST upgrade to the Self Employed version  OR  switch to ANY of the Downloaded versions.

[Critter]

And you still have 3 days to mail in the broker's statement ... you still cannot attach anything to the tax file.

[Opus 17]

Online Deluxe and higher can prepare a schedule c with income, you just can't deduct expenses.  Most people prefer to do that 🙂

[Opus 17]

There are no differences in tax forms you can file between Online SE and desktop H&B.  The differences are in pricing, how the programs function and some of the extra options.

1. Desktop H&B includes one free state module, although state e-filing is $19.99 or $24.99 extra.  (You can avoid the fee by printing and mailing your state return.)  With turbotax online, each state is $35 extra and includes e-filing. It is usually more cost-effective to use the Desktop version.

2. Turbotax desktop allows direct access to all forms and worksheets. This is good for troubleshooting, error checking, and making manual adjustments in rare cases where they are needed.  Turbotax online hides the forms and worksheets, and only allows you see them after you pay.  The worksheets and forms are never directly editable.

3. With turbotax online, each tax return requires a separate user account and password and will charge the full price, unless you qualify to file for free.  Turbotax desktop can prepare an unlimited number of tax returns, with e-filing allowed for the first 5, all for the same initial price for the CD or download.  (Each state e-file has a separate e-filing fee, but you can avoid that if you prefer to mail your state return.)  Each return is in a separate document like having different Word or Excel documents.  This allows to you prepare test returns for tax planning, or to prepare returns for family and friends (use of Turbotax by paid preparers is a violation of the license and of IRS regulations.)

4. Turbotax online can only be purchased directly from Turbotax. Discounts are not always available and the price goes up the closer you get to April 15.  Turbotax Desktop can be purchased as a download from several discount retailers (like Staples and Amazon) and the CD can be bought from many more (including Target, Walmart, Costco, Best Buy); and usually at a significant discount compared to the Turbotax direct price.  (But avoid web sites you've never heard of, they are probably selling pirated or infected copies.)

5.  Turbotax Online has an additional "Live" option, for a higher price, you can online chat with a CPA for personalized advice.  The Live option is not available for the desktop program, although you can get some limited tax help over the phone.

I generally only recommend Turbotax online for people who qualify for free filing. Otherwise, the desktop version is more cost-effective and has more capabilities.

[steve25]

Thanks Opus! Seems like this year pricing is really the only difference. This question stemmed from the fact of how 'sluggish' TurboTax for Mac has gotten these days as the .tax filetype grows. In the past, I felt there was never really an online option that replaced Home and Business.

Worth noting is that you even get "Quickbooks Self Employed" with TurboTax Self Employed – a huge benefit which is the the reason why I am going with the online version this year (not to mention stopping my Xero subscription.). Thanks for your help everyone!

[Opus 17]

Remember that QBSE is a one year free subscription, after that it's about $15 per month.  That may be worth it, it depends on whether you want to use QB long term, whether you would prefer a subscription or one-time price.  I also believe that the online QBSE can only handle one business.  If you have more than one business, you might want to pay the higher price to install the full QB program on your Mac or PC.  

[macuser_22]

Online does not have a "forms mode" so if you use that on the desktop version, you might not like the online version.

[user66902]

Another thing about QBSE is that as of right now, there's no mechanism in place to transfer your data to QBO if you ever need to upgrade. If you upgrade to QBO, you'll either have to manually input all your old QBSE data or leave it behind.