You should be able to use Free or Basic Live. Here is a listing of forms for each version. If you are using desktop, you will need Deluxe.
This of course begs the question “Which turbotax do I need for capital gains?”
If you have just interest and dividends (Schedule B) you can use any version of Turbo, and tax. However, if you have capital gains /losses reported on a brokerage statement, requiring a Schedule D, you need Turbo. Tax Premier (Online) or any version of Turbo, and tax cd/download. What is the difference between Turbo. Tax Deluxe and Premier?
What version of TurboTax do I need to use to file taxes?
If you run a business, you need to declare your income on a Schedule C and so you must use Turbo. Tax Self-Employed (also called Home & Business ). No other version offers this.
Which turbotax for capital gains?
This does not include your primary residence. Special rules apply to those sales. You’ll use Turbo. Tax Premier to report capital gains and losses as described above.
You should be wondering “Which version of TurboTax do I need to file capital loss carryover?”
Although you need Turbo. Tax Premier when using Online to report the sale of any investments, you can add Capital Loss Carryovers using Turbo Deluxe.
If it’s a living trust, you can use whichever Turbo. Tax personal program that suits your tax situation. There is no special tax form for living trusts; the trust’s income and deductions are reported on your personal tax return.
What can I do with TurboTax free?
Free filing of your simple federal and state tax returns, guaranteed Covers W-2 income, Earned Income Tax Credit (EIC) and child tax credits Jumpstart your return with last year’s Turbo. Tax info or import a PDF of your return from another tax software.
, turbo Tax CD/Download products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for e-filing state returns.
So, what can TurboTax Premier do for me?
At tax time, Turbo. Tax Premier will guide you through your investment transactions, allow you to automatically upload over 1500 investment transactions at once, and figure out your gains and losses.
What version of TurboTax do I need to report a house sale?
If you do need to report it or if it was an investment property (second home), report on Schedule D Capital Gains and Losses. Rental Properties are reported on Form 4797. Use Premier Edition for any of these sales. May 31, 2019 10:05 PM I sold a house this year. What version of Turbotax do I need? What type of house was it?
How much are long-term capital gains taxable on stock gains?
If you have $50,000 in long-term gains from the sale of one stock, but $20,000 in long-term losses from the sale of another, then you may only be taxed on $30,000 worth of long-term capital gains. If capital losses exceed capital gains, you may be able to use the loss to offset up to $3,000 of other income.