You can downgrade using the Clear and Start Over feature but bear in
mind that the different TurboTax "flavors" handle different tax
situations and their associated forms.
For example, if you want
to downgrade from Deluxe to Federal Free Edition and you're itemizing
(Schedule A), you can clear and start over with the free edition, but
once you enter your itemized deductions in the free edition, you'll be
asked to upgrade to Deluxe.
Here is a short list of some common tax situations and the online products that now uniquely support them:
- Itemized Deductions (Schedule A/1040)- Deluxe, Premier, and Self-Employed
- Capital Gains or Losses (Schedule D) - Premier and Self-Employed
- Rental Income (Schedule E) - Premier and Self-Employed
- Profit or Loss from Business (Schedules C-EZ and C) - Self-Employed
If
you are looking at TurboTax Federal Free Edition, keep in mind that
this version is intended for taxpayers with very simple returns (Form
1040EZ filers with the standard deduction), for example first-time
filers and students.
