Which TurboTax to Get as a Freelancer & Employee?

[ironsung]

Hello All,

I've used Turbotax for many years but I've ran into a dilemma.

I worked as a freelance writer first three quarters of 2022 while living in New Jersey. I have paid quarterly taxes throughout the year.

I got a job in New York so I moved near work. I now don't do freelancing anymore. I've lived here in NY since August. I got my W2 and ready to do my taxes.

1. Which version(s) of TurboTax do I get?

2. Can I do tax reporting for both scenarios with the self-employed software?

ChatGPT tells me I have to get both deluxe and self employed - not sure if this is correct though.

Thanks!

[xmasbaby0]

You need online Self-Employed; you can enter any kind of income using that version including your W-2 income and your self-employment income.  Only online Self-Employed can prepare the Schedule C you will need to prepare for your business expenses.

Or if you use the CD/download, you can use any version; all versions of the CD/download can handle the various kinds of income and can prepare a Schedule C.

[cheroner]

Turbo Tax home and business

[ironsung]

So which one do I use?  Turbo tax home and business or self employed?

[VolvoGirl]

Depends.  The Self Employed version is only done Online.  Home & Business is you buy the Desktop program and install it on your computer.  Most of us prefer to use the Desktop program.  And if you buy a Desktop program you can buy a lower version like Deluxe.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

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 Premier 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.

You can buy the Desktop CD/Download program here,

https://turbotax.intuit.com/personal-taxes/cd-download/