TurboTax Version to Use?

Posted by Charliec on December 22, 2006, 3:55 pm

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I'm evaluating which version of TurboTax to buy (Deluxe or Premier).
Besides the basic return items (income, and Schedule B items), I will
have a size number of Capital Gains items to report. I don't have
rental property and most of the other items listed under Premier.

In the past, I have entered my capital gains transactions manually
(time consuming). My question is, does the Deluxe version have the
capability of downloading these transactions from the brokerage
account or would I have to use Premier to accomplish that. The firm
has the capability to export to TurboTax - I just need to know which
version.

Thanks
Charlie
******************************************************
Charliec

Posted by Andrew on December 22, 2006, 6:17 pm

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Charliec wrote:

> I'm evaluating which version of TurboTax to buy (Deluxe or Premier).

> Besides the basic return items (income, and Schedule B items), I will

> have a size number of Capital Gains items to report. I don't have

> rental property and most of the other items listed under Premier.

> In the past, I have entered my capital gains transactions manually

> (time consuming). My question is, does the Deluxe version have the

> capability of downloading these transactions from the brokerage

> account or would I have to use Premier to accomplish that. The firm

> has the capability to export to TurboTax - I just need to know which

> version.

> Thanks

> Charlie

> ******************************************************

> Charliec

I haven't tried it yet, but my version of T/T Deluxe for t/y 2006 does seem
to indicate I can download the 1099Bs from selected FIs.

--
-------------------------------------------------------------
Regards -

- Andrew

Posted by R Walter on December 22, 2006, 9:54 pm

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Andrew wrote:

> Charliec wrote:

>>I'm evaluating which version of TurboTax to buy (Deluxe or Premier).

>>Besides the basic return items (income, and Schedule B items), I will

>>have a size number of Capital Gains items to report. I don't have

>>rental property and most of the other items listed under Premier.

>>In the past, I have entered my capital gains transactions manually

>>(time consuming). My question is, does the Deluxe version have the

>>capability of downloading these transactions from the brokerage

>>account or would I have to use Premier to accomplish that. The firm

>>has the capability to export to TurboTax - I just need to know which

>>version.

>>Thanks

>>Charlie

>>******************************************************

>>Charliec

> I haven't tried it yet, but my version of T/T Deluxe for t/y 2006 does seem

> to indicate I can download the 1099Bs from selected FIs.

I'm sure either version will do it, however, it will ultimately depend
on whether you financial institution supports the download. Some don't.

As to which version to use - try to find a free version on the web. My
brokerage (Vanguard) allows you to use Turbotax online for free,
including uploading of the previous year's return. It was half price
for electronic filing as well. That's a lot cheaper than buying an app
that you will only use for a short time.

You can also visit the IRS website for a list of free online tax
preparation sites.

Posted by P.Schuman on December 23, 2006, 12:03 am

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downloading 1099 for cap gains ?
hmm - haven't tried that yet.
BUT - even with a paper 1099, it's still up to you to enter the Cost Basis,
and I wonder how the download would handle that - if at all -