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Does premier have a schedule c and schedule c expenses? Or better yet, does premier have everything in Home & Business included?

Forum|Forum|7 years ago
June 6, 2019
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I have some self-employment income and also some stock investments and Home & Business does not necessarily provide a complete solution for the investments. Curious if premier does provide both (self-employment and investments) satisfactorily?

TurboTax Home & Biz Windows

Best answer by TomYoung

In the world of TurboTax "desktop", all versions support all the same Forms and Schedules. So, in theory, you can create an income tax return which only need the supported Forms and Schedules using any product. You might have to resort to actually entering information right on the Forms and Schedules themselves as opposed to using "interviews", but you could do it. As you go up the ladder of TurboTax versions you get more hand-holding in the form of more extensive and directed interviews, meaning you don't have to work right on the Forms and Schedules themselves.

So, to answer your question, yes the Premier version has the complete Schedule C and has all the other Forms and Schedules available to you in "Home & Business" if you are referring to a desktop product. In the online versions this is not the case. In the online versions you do need to go up to the most expensive product - "Self-Employed" - to be able to create a full Schedule C that includes expenses.

I think you're wrong about Home & Business not necessarily being as complete or as comprehensive as Premier when it comes to support for reporting of investments. Unless something has changed this year that I'm not aware of, as you go up the chain of desktop versions the changes are all additive. That is a higher version isn't weakened or downgraded in certain areas with respect to lower versions of the product. Do you have some indication that my understanding is incorrect?

Tom Young

T

TomYoungAnswer

Employee

In the world of TurboTax "desktop", all versions support all the same Forms and Schedules. So, in theory, you can create an income tax return which only need the supported Forms and Schedules using any product. You might have to resort to actually entering information right on the Forms and Schedules themselves as opposed to using "interviews", but you could do it. As you go up the ladder of TurboTax versions you get more hand-holding in the form of more extensive and directed interviews, meaning you don't have to work right on the Forms and Schedules themselves.

So, to answer your question, yes the Premier version has the complete Schedule C and has all the other Forms and Schedules available to you in "Home & Business" if you are referring to a desktop product. In the online versions this is not the case. In the online versions you do need to go up to the most expensive product - "Self-Employed" - to be able to create a full Schedule C that includes expenses.

I think you're wrong about Home & Business not necessarily being as complete or as comprehensive as Premier when it comes to support for reporting of investments. Unless something has changed this year that I'm not aware of, as you go up the chain of desktop versions the changes are all additive. That is a higher version isn't weakened or downgraded in certain areas with respect to lower versions of the product. Do you have some indication that my understanding is incorrect?

Tom Young

B

berkustaAuthor

Hi Tom, thanks for the quick reply. I had been using the online solutions and decided to try the CD this year. My problem last year was that Home & Business could not import more than 500 transactions for stocks in the online version and was limited to 2000 for the CD version (last I checked). I want to avoid this and import everything while still being able to have the interview support for the self-employment. The interviews make it easy for people like me who need to report a small but mandated self-employment.