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jbakmd
New Member

Which one should i buy

 
4 Replies
VolvoGirl
Level 15

Which one should i buy

Do you mean which version?

 

For the Desktop CD/Download program it doesn't matter.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. So you can start in Deluxe and upgrade if you want to.

 

If you use the Online version it depends on what kind of income you have.  Like if you have investment income you need Online Premier.

wh6c
New Member

Which one should i buy

My wife & her sister owned a home with their mom. She passed away so the 2 of them now own it. It's NOT for rental income and stood vacant for years. They just sold it and we want to know which TTax version to use. Is Deluxe able to do the job? They did an appraisal upon her death to set as basis, and the home sold for less than the basis so I presume there won't be any capital gains there. Since it was NOT used for rental income or any kind of income, they should be able to file using TTax Deluxe, right? Thanks for any help and guidance.

VolvoGirl
Level 15

Which one should i buy

If you buy the Desktop CD/Download program you can use Deluxe.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

 

If you want to use the Online web based version you would need Premier or higher.

Bees
Level 7

Which one should i buy

If the daughters were on the deed to the property before the parent passed away they may not be eligible for a step up in basis at death except for the fraction owned by the mother.  

 Buy a version that gives you access to individual guidance from a CPA .

https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/prope...

Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
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