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Posted by R. C. White on January 29, 2007, 9:54 am
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Hi, Walt.
TurboTax Basic has always handled my capital gains and losses just fine.
ALL the basic (no pun intended) functionality to file a complete return is
430 No such article
Hi, Walt.
TurboTax Basic has always handled my capital gains and losses just fine.
ALL the basic (no pun intended) functionality to file a complete return is
in Basic. The other versions add mainly expanded Help files, plus official
Publications (which are available free in many places, including online and
direct from the IRS), and a few more "bells and whistles". The comparison
checklist on the back of my 2007 Basic box says that Premier adds "Help for
sales of stocks..." Note that the offer is for HELP for sales; Basic is all
you need for actually reporting those sales.
If you have a business, you may need the Schedule C help provided in H&B,
especially if it calculates depreciation; otherwise, I see no need for more
than Basic for most of us. I see that the checklist now shows a "New"
feature in Premier called BasisPro, which MIGHT help with basis problems
like the one that long-term AT&T shareholders sometimes have. I've never
seen this, so I can't comment on its usefulness.
The other extra-cost versions' "features" are mainly guidance, not required
utility.
RC
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Vista Ultimate x64)
>I have capital gains and have always used Turbotax Deluxe. Will that
> work this year, or do I have to buy Premier?
>
> The Turbotax web site says:
>
> "Choose TurboTax Premier Investments if ... You sold investments, such
> as stocks, bonds, or mutual funds."
>
> "Choose TurboTax Deduction Deduction (sic) Maximizer if ... You don't
> sell investments, such as stocks, bonds, or mutual funds."
>
> The comparison chart says Premier has "Help for sales of stocks,
> bonds, mutual funds ... " and a cost basis tracker (which I do in
> Quicken).
>
> But all three versions - Premier, Deluxe and even Basic - list all the
> same forms, including Schedule D.
>
> So - will they all compute stock and bond sales? Or is Intuit forcing
> me to buy the Premier version (or switch to TaxCut)?
>
> - Walt Bilofsky
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Posted by clay on January 29, 2007, 9:58 am
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Walt,thats a sales pitch,Im using turbo tax deluxe2007 with state
bought off ebay for 29.00 , it works fine although a couple years ago
I remember being forced to upgrade as I had some stock option
sales.You do exactly what I do,,cost basis in quicken,.They are clever
in saying "expert help" in premier.Whats to help,,buy ,sell,cost
basis.
Good luck
> I have capital gains and have always used Turbotax Deluxe. Will that
> work this year, or do I have to buy Premier?
>
> The Turbotax web site says:
>
> "Choose TurboTax Premier Investments if ... You sold investments, such
> as stocks, bonds, or mutual funds."
>
> "Choose TurboTax Deduction Deduction (sic) Maximizer if ... You don't
> sell investments, such as stocks, bonds, or mutual funds."
>
> The comparison chart says Premier has "Help for sales of stocks,
> bonds, mutual funds ... " and a cost basis tracker (which I do in
> Quicken).
>
> But all three versions - Premier, Deluxe and even Basic - list all the
> same forms, including Schedule D.
>
> So - will they all compute stock and bond sales? Or is Intuit forcing
> me to buy the Premier version (or switch to TaxCut)?
>
> - Walt Bilofsky
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Posted by Walt Bilofsky on January 29, 2007, 11:13 am
Please log in for more thread options Thanks for all the replies.
Frankly, I consider Intuit's web site to be misleading. In my opinion
it has been maliciously crafted to mislead consumers into believing
that TT Basic and Premier won't work for capital gains.
There's a difference between a sales pitch - this will work better for
you - and a statement that "this won't work for you - you have to buy
the more expensive version." I think Intuit's statement "Choose
Deluxe if you don't sell stocks" is intended to mislead.
There is a class action suit in there for some enterprising attorney.
- Walt Bilofsky
>Walt,thats a sales pitch,Im using turbo tax deluxe2007 with state
>bought off ebay for 29.00 , it works fine although a couple years ago
>I remember being forced to upgrade as I had some stock option
>sales.You do exactly what I do,,cost basis in quicken,.They are clever
>in saying "expert help" in premier.Whats to help,,buy ,sell,cost
>basis.
>Good luck
>
>> I have capital gains and have always used Turbotax Deluxe. Will that
>> work this year, or do I have to buy Premier?
>>
>> The Turbotax web site says:
>>
>> "Choose TurboTax Premier Investments if ... You sold investments, such
>> as stocks, bonds, or mutual funds."
>>
>> "Choose TurboTax Deduction Deduction (sic) Maximizer if ... You don't
>> sell investments, such as stocks, bonds, or mutual funds."
>>
>> The comparison chart says Premier has "Help for sales of stocks,
>> bonds, mutual funds ... " and a cost basis tracker (which I do in
>> Quicken).
>>
>> But all three versions - Premier, Deluxe and even Basic - list all the
>> same forms, including Schedule D.
>>
>> So - will they all compute stock and bond sales? Or is Intuit forcing
>> me to buy the Premier version (or switch to TaxCut)?
>>
>> - Walt Bilofsky
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Posted by clay on January 29, 2007, 12:28 pm
Please log in for more thread options Remember,with deluxe you get the state also for efiling purposes and
even efiling has become expensive ,I remember 6.95 or better yet free
fed efiling,oh well they are going to get their hands in your pockets
one way or another. now its 14.95 each for both fed and state
> Thanks for all the replies.
>
> Frankly, I consider Intuit's web site to be misleading. In my opinion
> it has been maliciously crafted to mislead consumers into believing
> that TT Basic and Premier won't work for capital gains.
>
> There's a difference between a sales pitch - this will work better for
> you - and a statement that "this won't work for you - you have to buy
> the more expensive version." I think Intuit's statement "Choose
> Deluxe if you don't sell stocks" is intended to mislead.
>
> There is a class action suit in there for some enterprising attorney.
>
> - Walt Bilofsky
>
> >Walt,thats a sales pitch,Im using turbo tax deluxe2007 with state
> >bought off ebay for 29.00 , it works fine although a couple years ago
> >I remember being forced to upgrade as I had some stock option
> >sales.You do exactly what I do,,cost basis in quicken,.They are clever
> >in saying "expert help" in premier.Whats to help,,buy ,sell,cost
> >basis.
> >Good luck
>
> >> I have capital gains and have always used Turbotax Deluxe. Will that
> >> work this year, or do I have to buy Premier?
>
> >> The Turbotax web site says:
>
> >> "Choose TurboTax Premier Investments if ... You sold investments, such
> >> as stocks, bonds, or mutual funds."
>
> >> "Choose TurboTax Deduction Deduction (sic) Maximizer if ... You don't
> >> sell investments, such as stocks, bonds, or mutual funds."
>
> >> The comparison chart says Premier has "Help for sales of stocks,
> >> bonds, mutual funds ... " and a cost basis tracker (which I do in
> >> Quicken).
>
> >> But all three versions - Premier, Deluxe and even Basic - list all the
> >> same forms, including Schedule D.
>
> >> So - will they all compute stock and bond sales? Or is Intuit forcing
> >> me to buy the Premier version (or switch to TaxCut)?
>
> >> - Walt Bilofsky
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Posted by Walt Bilofsky on January 29, 2007, 12:37 pm
Please log in for more thread options Yes, I need state so would only consider Deluxe. Costco has it for
$37; it's the only place I've seen it discounted so far. (I'm told
they had a coupon for a further discount but it's expired.)
>Remember,with deluxe you get the state also for efiling purposes and
>even efiling has become expensive ,I remember 6.95 or better yet free
>fed efiling,oh well they are going to get their hands in your pockets
>one way or another. now its 14.95 each for both fed and state
>
>> Thanks for all the replies.
>>
>> Frankly, I consider Intuit's web site to be misleading. In my opinion
>> it has been maliciously crafted to mislead consumers into believing
>> that TT Basic and Premier won't work for capital gains.
>>
>> There's a difference between a sales pitch - this will work better for
>> you - and a statement that "this won't work for you - you have to buy
>> the more expensive version." I think Intuit's statement "Choose
>> Deluxe if you don't sell stocks" is intended to mislead.
>>
>> There is a class action suit in there for some enterprising attorney.
>>
>> - Walt Bilofsky
>>
>> >Walt,thats a sales pitch,Im using turbo tax deluxe2007 with state
>> >bought off ebay for 29.00 , it works fine although a couple years ago
>> >I remember being forced to upgrade as I had some stock option
>> >sales.You do exactly what I do,,cost basis in quicken,.They are clever
>> >in saying "expert help" in premier.Whats to help,,buy ,sell,cost
>> >basis.
>> >Good luck
>>
>> >> I have capital gains and have always used Turbotax Deluxe. Will that
>> >> work this year, or do I have to buy Premier?
>>
>> >> The Turbotax web site says:
>>
>> >> "Choose TurboTax Premier Investments if ... You sold investments, such
>> >> as stocks, bonds, or mutual funds."
>>
>> >> "Choose TurboTax Deduction Deduction (sic) Maximizer if ... You don't
>> >> sell investments, such as stocks, bonds, or mutual funds."
>>
>> >> The comparison chart says Premier has "Help for sales of stocks,
>> >> bonds, mutual funds ... " and a cost basis tracker (which I do in
>> >> Quicken).
>>
>> >> But all three versions - Premier, Deluxe and even Basic - list all the
>> >> same forms, including Schedule D.
>>
>> >> So - will they all compute stock and bond sales? Or is Intuit forcing
>> >> me to buy the Premier version (or switch to TaxCut)?
>>
>> >> - Walt Bilofsky
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