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+--- Thread: anyone using Turbotax this year? (/showthread.php?tid=93098)
anyone using Turbotax this year? - DavidS - 02-19-2010
I'm trying to decide which version of TurboTax I need for this year. It would either be the Deluxe or Premium. The difference seems to be investments. I do have some but they are very straightforward and I am not an active trader. I sold some mutual funds at the end of the year but that was it.
I can't tell from the website if the Deluxe will help with basic investment stuff or if it does not include any at all and you then have to upgrade to the Premium. Anyone here have any insight?
Re: anyone using Turbotax this year? - bhaveshp - 02-19-2010
I used TurboTax Premier this year mainly due to the additional guidance provided for employee stock plans and stock options.
Premier does a little more hand holding for determining your cost basis for investments. If you're unsure about this aspect of investing - dividends, cap gains, splits etc, then Premier is worth the extra $20.
There's a useful comparison chart here:
http://turbotax.intuit.com/personal-taxes/online/compare.jsp
And the following graphic gives a picture of the guidance Premier gives:
Re: anyone using Turbotax this year? - bhaveshp - 02-19-2010
Oh, forgot the biggest advantage of Premier over Deluxe: Premier will import your investment transactions online directly from your brokerage. This can be a big time saver.
Re: anyone using Turbotax this year? - Don C - 02-19-2010
TurboTax Basic imported information from my broker so 'd be surprised if that is a difference.
Re: anyone using Turbotax this year? - Lee3 - 02-20-2010
I use the turbotax online version, then if you need the more expensive version, it is a simple upgrade. I go through Vanguard and they give a discount.
Re: anyone using Turbotax this year? - Michael - 02-21-2010
I use Deluxe. It does download the financial data directly from Fidelity and fills in the appropriate gain (or loss...) automatically. I buy and sell mostly mutual funds and a few stocks and have not had a problem with either.