
TurboTax Premier - Keep more of your investment and rental income.
A: TurboTax Premier 2023 is the best choice for investments, as it gives extra guidance while entering your information including 1099-B. When you sell stocks, bonds, mutual funds, or other securities, you should get Form 1099-B from your brokerage to report capital gains and losses on your tax return. All TurboTax 2023 personal tax versions include all the same forms but with different guidance.
Q: Would this be include home property sales & Social Security income inherited by a parent?
A: TurboTax Premier 2023 will support and guide you through your sale of home property and Social Security inheritance. Due to the many variables that Inheritance Taxes cover we do recommend going through our TurboTax Blog posts about this very scenario titled "What Are Inheritance Taxes?" as well as "Death in the Family" for more details on these topics. For further discussion on these topics in more detail, please see our TurboTax Community where you can post questions and get in-depth help from our experts.
A: TurboTax Premier 2023 Federal + E-file & State [PC/MAC Digital] can be installed, authenticated, and activated on up to 5 different computers. The account that is either created or existing account used for activating the software must be used for any subsequent installation.
Q: which turbotax do I need for farm rental income
A: If you are filing Schedule E we recommend using TurboTax Premier 2023. If you are looking to file Schedule F we then recommend TurboTax Home and Business 2023. For more information about rental income and its forms, please refer to the article on our website and community page, "What is Form 4835: Farm Rental Income and Expenses."
A: There is a section on the tax forms that helps determine what credits you may have, including EV vehicle rebates.
Q: Can I use this software if I have K-1 income, profit from a co-owned business?
A: All TurboTax 2023 personal tax products include support and guidance for Schedule K-1s, however, Premier is recommended for the best possible guidance on that topic. If you're self-employed then Home & Business would be what you need instead. Please note, that if you need to generate K-1s and/or file business-related taxes, you will need TurboTax Business (green box) additionally.
Q: Does it handle nontaxable distribution from Roth IRA and does it have Form 8606?
A: Yes, it does. It has all the forms needed.
A: TurboTax Premier 2023 Fed + State does not support Form 709, however, you can download it from the IRS website and fill it out per the Form 709 instructions.