Difference between Turbotax Deluxe and Premiere?

[stepford]

I know this has been talked about, but I haven't yet seen a definitive answer. What 2015 stock transactions require the use of TT Premiere vs. what can be entered using only Deluxe?

Looking at Intuit's site it appears both versions include the same forms, with the only additions in Premiere being:

"Additional help for investment sales such as stocks, bonds, royalties, mutual funds and employee stock plans"

"Retirement tax help and IRA tool show you how to get more money back this year and when you retire"

and

"Expert answers from CPAs and EAs via phone"


I don't think I need any of that, but I do have a pretty complicated set of capital gains and losses to account for (including identification of individual shares sold). I think TT Deluxe is all I need, but if anyone knows for sure I'd appreciate the advice.

 

[Willers]

According to Intuit, the Premier version is required for schedule D's so it looks like that's the version you will need. That is the one I use:

https://turbotax.intuit.com/personal-taxes/compare/online/

 

[razztazz]

I just played it safe and got Premier. The 30 extra bucks could save a headache. And if it turns out to be a non-factor A) I'll never know it and B) hey, it's only 30 bucks out of millions

 

[audreyh1]

Deluxe should handle schedule Ds.

 

[jim584672]

I thought I read the CD version of Deluxe should handle stock transactions.

 

[MichaelB]

Deluxe should handle schedule Ds.

+1

There is a difference between the desktop and online versions which makes this confusing.

 

[stepford]

According to this article ALL the TT download and CD versions include ALL the federal forms. The only differences appear to be the inclusion of state tax forms (with Deluxe and above) and the availability of various forms of enhanced "help" with the higher tiers. I was just hoping someone who's actually gotten the software could verify.

 

[Willers]

Thanks for the corrections. Intuit certainly doesn't make it simple...

 

[gerntz]

I just played it safe and got Premier. The 30 extra bucks could save a headache. And if it turns out to be a non-factor A) I'll never know it and B) hey, it's only 30 bucks out of millions

Outside the millions part, agree. Much hand-wringing over so little. Life's too short.

 

[MichaelB]

According to this article ALL the TT download and CD versions include ALL the federal forms. The only differences appear to be the inclusion of state tax forms (with Deluxe and above) and the availability of various forms of enhanced "help" with the higher tiers. I was just hoping someone who's actually gotten the software could verify.

I have TT Deluxe. The "step by step" includes stock transactions. The screens and dialog are much different than last year.

 

[Al in Ohio]

I just played it safe and got Premier. The 30 extra bucks could save a headache. And if it turns out to be a non-factor A) I'll never know it and B) hey, it's only 30 bucks out of millions

That mode of thinking will require you to turn in your LBYM card sir!


Sent from my iPad using Early Retirement Forum

 

[razztazz]

That mode of thinking will require you to turn in your LBYM card sir!


Sent from my iPad using Early Retirement Forum

Ahem. I do not, as a matter of course, constantly live within THIRTY BUCKS of my income, ergo spending another 30 bucks would still leave me well below my means.

Let's keep some sense of proportionality here. Five years is a lifetime if you're a five year old. Thirty bucks is lost in the statistical grass for everybody here. (Although it is a small fortune to my family members)

Now, I would consider as appropriate a chastisement if I spent the 30 bucks on, say, lottery tickets or Christmas presents. But 30 bucks on tax software? Hey, taxes are part of having money in the first place.

And isn't that what having money is all about anyway? I didn't eat all that crap skrimping and saving just to worry about 30 bucks. (Even if it was for lottery tickets)

 

[Car-Guy]

I just played it safe and got Premier. The 30 extra bucks could save a headache. And if it turns out to be a non-factor A) I'll never know it and B) hey, it's only 30 bucks out of millions

+1 - Hate these guys and their slime ball marketing techniques but love their software.

 

[razztazz]

+1 - Hate these guys and their slime ball marketing techniques but love their software.

Here's the reason I sprung for Premier. I got the usual "beat the crowd" early solicitation for the 2015 version. I remembered the strum und drang of last year when I bought the up-till-then perfectly good Deluxe then found out I had to upgrade because Deluxe had been neutered. Sleazy. Yes! Each year I contemplate switching to one of the other products but always simmer down and stay with Turbo. I did this year too. And at the time, Premier was the thing I needed.

I have subsequently heard that THIS year's Deluxe is like the old Deluxe but I'm sure they kept that change in the bag until they, frankly, I admit it, sleazed me out of the 30 bucks for Premier.

 

[Jerry1]

Thanks for the corrections. Intuit certainly doesn't make it simple...

No, they don't make it simple. If fact, they're somewhat misleading. Some of their compare tools lead you to believe that you need Premier for schedule D but other comments and a listing of the forms indicate Deluxe will handle.

I went with Deluxe. Not too worried about $30 but it didn't take me but a few minutes to get comfortable that what I needed (which includes sch D) will be handled with Deluxe.

 

[audreyh1]

I would have gone for Deluxe, but Fidelity offered Premier for free, and not Deluxe.

 

[bUU]

I don't know if it is still part of the distinction, but the biggest difference I recall encountering between Deluxe and Premier was the selling of inherited stocks and mutual funds, which were inherited prior to 2012 when the requirement was put in place for reporting of cost basis to the IRS by brokerages for certain taxable investments. In Deluxe, it allows you to enter the sales of these older holdings and then prompts you for the cost basis, which (of course) you must determine through what had until 2012 been the regular way - the point being you'd have to either know it having tracked it, or do the research to determine it. With Premier, it allowed me to enter the sale and the date of death and led me through a set of questions about prior M&A and spinoff transactions, resulting in TT determining the cost basis for me.

 

[donheff]

I went with Premier because of DW's continuing self employment income and multi-state filing. I used Deluxe one year and had to upgrade IIRC.