TurboTax, a leading tax preparation software, releases annual versions to accommodate changing tax laws and regulations. Understanding the different TurboTax versions ensures you’re using the most accurate and efficient software for your tax needs.

Each TurboTax version is tailored to different tax filing needs, so it’s important to choose the one that best fits your financial situation. From the Free Edition to the more advanced Self-Employed and Business versions, TurboTax ensures that you get the features you need to file your taxes accurately and maximize your refund.

TurboTax Versions

TurboTax Free Edition

• Ideal For: Simple tax returns with no dependents and straightforward income sources (e.g., W-2 income).
• Features: Basic tax filing, standard deduction, Earned Income Tax Credit (EITC), and Child Tax Credit (CTC).
• Price: Free to file.

TurboTax Deluxe

• Ideal For: Individuals with investments, rental property, or self-employment income.
• Features: All features of the Free Edition, plus support for investments, rental property, and deductions like mortgage interest and property taxes.
• Price: Starts at around $59.99.

TurboTax Premier

• Ideal For: Individuals with investments and rental property but no self-employment income.
• Features: All features of the Deluxe Edition, plus support for investment income and rental property.
• Price: Starts at around $89.99.

TurboTax Self-Employed

• Ideal For: Freelancers, independent contractors, and small business owners.
• Features: All features of the Premier Edition, plus support for self-employment income and expenses, deductions for home office, and more.
• Price: Starts at around $119.99.

TurboTax Live

• Ideal For: Users who want personalized tax expert guidance.
• Features: All features of the Self-Employed Edition, plus access to a tax expert who can review your return and answer questions.
• Price: Starts at around $169.99.

TurboTax Online vs. Desktop

• TurboTax Online: Accessible from any device with an internet connection, easy to use, and allows for quick filing.
• TurboTax Desktop: Downloadable software that can be installed on your computer, offering more advanced features and offline access.