All You Need To Know About TurboTax Software

TurboTax software guarantees maximum tax refund with most accurate calculations. The software was developed by Chipsoft in mid-1980 and then acquired by Intuit in the year 1993. It is one of the most widely used taxing software in the United States. This software has a step-by-step guide to help clients fill their returns conveniently. TurboTax is available in two different versions, one is online and the other one is the desktop version, which is suitable for the Mac and Windows users.

Online Version of TurboTax Software:

The software is easy to use and helps in maximizing returns. Here are some of the key features of the software:

  1. Prepare, E-file, and print tax returns easily
  2. Simply click an image and automatically import W-2 form
  3. Embedded with more than 350 tax deductions and credits
  4. Helps to save tax with charity donations
  5. Enables users to transfer previous year’s information into current year’s form
  6. Creates personalized reports
  7. Considers stocks, bonds, and ESPPs
  8. Calculates business expenses, which help in tax deductions
  9. Effortless expense tracking using QuickBooks self-employed
  10. Provides 24/7 support

Also Read: A Complete Guide to TurboTax Software

There are different categories of online versions available and the users can choose the one according to their requirement.

  1. Absolute Zero Edition: Most suitable for rent payers, employees
  2. Deluxe Edition: For the ones who have donated charity, paid medical expenses, or own a home
  3. Premier Edition: The version is useful for the ones who own stocks or rental properties and need to maximize deductions and credits
  4. Self-employed Version: For the ones taking care of home business, consultants, freelancers, small business owners

Desktop Version of TurboTax Software:

The TurboTax desktop software is suitable for the ones who use Windows and Mac systems. Some of the key features of the software are:

  1. Helps you analyze tax returns and double check at every step
  2. W-2 forms, investment form and mortgage information can be imported directly and imported quickly from Quicken and QuickBooks
  3. 1 state download
  4. Analytic reports help maximize tax returns
  5. Most suitable for self-employed employees and small-business owners
  6. Helps create W-2 and 1099 tax forms
  7. Updates customers with latest tax laws
  8. Anytime support to help solve queries
  9. Prepare and e-file files conveniently
  10. Import data from previous year’s files

Recommended Read: All About TaxAct Deluxe

TurboTax Desktop software is available in following editions:

  1. Basic Edition: Provides step-by-step guidance, personalization, easy transfer of information, automatic upload of W-2 forms, deduction for children
  2. Deluxe: Helps users to maximize deductions
  3. Premier: Helps you in utilizing investment and rental property for maximum tax deductions
  4. Home and Business: Suitable for personal and self-employed customers

The desktop version of the software can be easily installed on the machine using a CD. You can also download it from a link. A free version with limited features helps you to check and analyze the software. Once you are satisfied with the product, you can then accordingly choose the best version for you and your business.

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