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February 17, 2023
Question

Looking at TurboTax Live. Would it include state taxes for two different states since we moved? Also buying and selling a home? Or are there more fees for this?

  • February 17, 2023
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1 reply

Employee
February 17, 2023

When you use any online software (except for the free edition) you pay for EACH state return.   The federal and state returns are each charged separately with online.   There are several versions of online Live--priced differently according to which one you choose.   If you need to enter a 1099S for selling a house you will need Premier.

 

https://ttlc.intuit.com/community/choosing-a-product/help/what-is-turbotax-live/00/27191

 

 

ONLINE 2022

 

https://turbotax.intuit.com/personal-taxes/online/

And just so you know—online prices go up in March—Pay your fee before then to lock in the discount

 

 

Do you have a 1099S for selling your home?

 

SALE OF HOUSE

 

If your gain was more than  $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return.  Whether you re-invested the gain in to another house is irrelevant.  If you  have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)

If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).

  • If you are using online TT, you need Premier or Self-Employed software to report the 1099-S

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**