You can now downgrade with 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 Home & Business
·
Capital Gains or Losses (Schedule D) - Premier and Home &
Business
·
Rental Income (Schedule E) - Premier and Home &
Business
·
Net Profit from Business (Schedule C-EZ) - Deluxe, Premier,
and Home & Business
·
Profit or Loss from Business (Schedule C) - Home &
Business
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.
