TurboTax Download is powered by Intuit, a software company that produces many popular personal financial management programs. One of the most well known is Quicken. Turbo Tax was developed in the mid 1980’s. Since that time it has continued to evolve and be improved upon.
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It is very easy to use, with a step by step tutorial. There is also an abundance of quality support tools available on their website. You also have the ability to contact a customer support representative via phone, web based chat or email. Today TurboTaxDownload is one of the most popular tax programs available. Turbo Tax offers five different versions so it’s easy to find one suited to your needs. The variations they offer range from the free edition to one designed for corporations and other business entities. It is important to choose and use the appropriate software for your needs. Included with your TurboTax Download you get what TurboTax calls their “Turbo Tax Total Assurance” maximum refund guaranteed and free audit support center. Because the goal of Turbo Tax Download is to make it easy for you to get your maximum refund and it is so simple to use many people continue to use it year after year.
Below is detailed information about each variation. It is important to know that each of the variations described below are for your Federal tax return only. State tax returns are additional.
This edition is for simple tax returns.
You can skip around as you fill out the return and save your progress and come back to finish up later. It walks you through entering your W-2’s, retirement, survivor’s benefits and disability. If you find you need to upgrade to another edition you can do so at anytime.
This edition is designed for those who have children, a home, have made donations and or medical expenses.
As you answer simple questions Turbo Tax Download will search more than 350 deductions to help you get the biggest deduction. If you are employed by one of over 400,000 participating employers and financial institutions your W-2 and 1099 data can be directly imported.
This edition is designed for those who have stocks, bonds, mutual funds or rental property.
The software will walk you through reporting sales of stocks, bonds and mutual funds. It will also calculate capital gains/losses and keep track of the carry over to future tax returns. It simplifies rental property depreciation, appraisal fees, recording costs and much more.
Home and Business Edition:
This edition is designed for the sole proprietor, consultant, contractor or single owner LLC.
It will help you with expenses for your vehicle, supplies, home office and utilities as well as much more. It will help you with employees and contractors. Get help with the correct depreciation method. It also includes everything in the Premier edition.
This edition is designed for those who have a corporation, partnership or other multimember LLC.
It creates K-1 forms electronically in PDF format. Creates unlimited W-2, 1099-INT and 1099-DIV forms. Allows you to prepare returns for multiple businesses. It will also lessen your time typing by transferring your federal data to Turbo Tax Business State.