No, the data you have already entered will not be lost after an update. To be certain that the information will not be lost, be sure to click on the File tab located in the upper left hand corner of the program and click on "save" or "save as".
Well... unless you go through what I just did. During a TurboTax update on Saturday (3 days before due date), my tax file disappeared. After 4 hours of working with tech support to find it, I found other forum entries where people had found their tax file in their recycle bin or in random program files after a June 2019 update. We are guessing that mine was sent to my recycle bin, and since I didn't even know it was missing, I was an idiot and cleared my recycle bin while cleaning up my desktop. I had to completely redo my taxes over the last couple of days. UGH! I really hope this doesn't happen to anyone else!
wow... thanks for this heads up.. that is where I've found mine! Forever grateful 🙂
Yes, it will. TurboTax Home & Business 2021 updated on 2/11/2023 just deleted my data on my 2021 file dated 2/03/2022. Unfortunately I did not have a backup and will now have to redo my 2021 return. And I made an error in overwriting my old file (should have Saved As, not Save). ALWAYS HAVE A READ ONLY BACKUP someplace else to copy from.