TurboTax is a one of the most popular tax preparation software packages developed by Intuit. It basically acts as a seamless tax preparation framework and helps taxpayers to e-file their tax return easily. Due to many advanced features, TurboTax became more familiar with all its user and this makes it a good tax filing system.
The company has released TurboTax in various versions depending on the requirements of its users, mainly deluxe, premier, and home and business. You might wonder to know which TurboTax do I need? In order to get answer of this, check a quick comparison between TurboTax Deluxe vs. Premier vs. Home and Business to know the features of all the three versions and them to know which version will be best suited for you. Must check how to downgrade from TurboTax deluxe to other versions.
TurboTax Deluxe vs. Premier vs Home & Bussiness
Different versions of software can make it very easy for its users to prepare their state and federal income tax files easily. It is very easy to install it or to change the installed version as per future requirement. There are some basic steps that you need to apply for how to downgrade TurboTax deluxe or any other version to the most suitable one as per your requirement. But before that, check all the important features of different TurboTax versions:
1. TurboTax Deluxe:
In order to maximize your tax returns, TurboTax Deluxe is supposed to be the best option. There are many best features offered by this version at an affordable price. Check a few important benefits of TurboTax Deluxe version from below:
- It provides you maximum returns
- It is easy preparation and e-filing of tax returns
- You can easily double-check your tax returns
- Saves a lot of your time while e-filing taxes
- Helps you through the latest taxes
2. TurboTax Premier:
TurboTax Premier is little more expensive than TurboTax Deluxe as it offers a few additional benefits as well. To be honest, this version is quite better than the Deluxe Version. Check some additional benefits of TurboTax Premier over TurboTax Deluxe from below:
- Provides some additional support for rental property income and similar expenses
- It also provides you a complete help for retirement taxes
- You can maximize your returns easily
- Prepare and e-file your tax returns
- Check the tax history, and gives you a brief analysis
3. TurboTax Home and Business:
TurboTax Home and Business version comes packed with many advanced features that may help you in tax preparation and maximizing returns. But this version is bit more expensive and is specifically designed for people who are self-employed or owns a small business firm. It provides you some extra advantages over TurboTax premier. These features are given below:
- It offers support for self-employed tax deductions
- Creates 1099 and W-2 forms for the employees
- Provides you detailed guide for starting any new business
Quick tips – How to downgrade Turbotax(Turbotax Downgrade)
As we all know, TurboTax Deluxe program is not free. You need to pay some amount in order to avail all the feature of TurboTax program. While using TurboTax how to downgrade query, you can check different methods to downgrade your TurboTax application. One of the simple ways to downgrade is to Clear and Start Over.
You need to follow the steps given below to check all charges, and then delete anything from your TurboTax account that you don’t have to use:
- Select Tax Tools from the left navigation pane of the screen and then choose Tools option.
- Now, a Tools Center box will appear on your screen with four blue boxes.
- At last, click on the My Fees box from the right.
If you experience any issue while following the above instructions, then to know how to remove TurboTax deluxe, open the File section and then navigate to the Review Your Order screen. This will display the breakdown of your charges.
You must be aware with the face that there is no way to downgrade any TurboTax product once you have upgraded it. What you can do is create a new return and choose a lower version. You can also use any version in order to prepare all returns.