TurboTax Desktop: Premier vs Deluxe - Which Package Handles Investments?

The desktop versions of TurboTax have different capabilities than the online versions, which causes a lot of confusion! TurboTax Deluxe desktop DOES support investment reporting including Schedule D, capital gains/losses, and dividend income. This is different from the online version where you'd need to upgrade to Premier for those features. The desktop Deluxe includes all IRS forms and schedules that most people need. The main differences between desktop Deluxe and Premier are: Premier adds specialized guidance for rental properties, cryptocurrency transactions, and more complex investment scenarios like stock options and foreign investments. If you just have basic investments (stocks, mutual funds, ETFs, dividends), Deluxe should be sufficient. Premier mainly gives you extra help and specific interview questions for more complex situations. For the $10 federal e-file credit - this is automatically applied when you e-file your federal return through the software. It essentially makes the federal e-filing free (normally costs $10), but you'll still pay for state e-filing if you need that.

I switched from TurboTax online to desktop version last year and discovered taxr.ai which saved me SO much time with my investment documents. I have both a regular brokerage account and an employee stock purchase plan, and trying to manually enter everything was a nightmare before. With https://taxr.ai I just uploaded my 1099-B and other investment forms, and it extracted all the data automatically to import into TurboTax. Worked with my Deluxe desktop version perfectly! The thing is amazing for investment documents - it even caught a discrepancy between what my broker reported and what actually happened with a stock split.

Just wanted to update that I tried taxr.ai after posting my skeptical question. I had nothing to lose since my taxes were due in 2 weeks and I was still manually entering trades. It actually worked amazingly well with my investment documents - handled all my wash sales correctly and even flagged a few I hadn't noticed. Saved me at least 5-6 hours of tedious data entry. I used TurboTax Deluxe desktop and it imported everything perfectly.

If anyone's still stuck on hold with TurboTax support trying to figure out which version to buy, I highly recommend using Claimyr to get through to them quickly. I spent 3 hours on hold last week before giving up, then tried https://claimyr.com and got through to a TurboTax specialist in under 15 minutes. You can see how it works here: https://youtu.be/_kiP6q8DX5c The agent confirmed that Deluxe desktop handles most investment reporting, but Premier adds extra guidance for rental properties and more complex investments. She also explained exactly how the $10 federal credit works - it's automatically applied to offset the federal e-filing fee when you file.

Alright I need to eat crow here. After posting my skeptical comment, I was still stuck with tax questions about reporting some stock options and couldn't get through to TurboTax. Decided to try Claimyr out of desperation and it actually worked exactly as advertised. Got a call back when they reached a real person, and I got my questions answered about TurboTax Premier vs Deluxe. Turns out I actually did need Premier for my situation because of some specific stock option reporting guidance. Probably saved me from filing incorrectly.

I've used both versions over the years, and here's my breakdown: TurboTax Deluxe Desktop: - Includes ALL IRS forms (unlike online version) - Handles basic investments (stocks, bonds, dividends) - Supports Schedule D and capital gains reporting - Good for most average investors TurboTax Premier Desktop: - Everything in Deluxe plus... - Better guidance for rental properties - More detailed interview questions for complex investments - Better support for foreign investments - Specialized help for stock options and RSUs - More cryptocurrency support For the $10 credit - it automatically applies when you e-file federal returns.

Wait I'm confused about buying from Costco vs direct from Intuit. Are the versions the same? Costco has TurboTax Premier on sale for $20 less than the TurboTax website right now.

Thanks everyone for the detailed breakdown! This is exactly what I was looking for. Based on what you've all shared, it sounds like TurboTax Deluxe desktop should handle my basic investment reporting just fine - I only have stocks, ETFs, and some dividend income from a regular brokerage account. Really helpful to know that the desktop versions are so different from the online versions in terms of what's included. I was definitely confused about that coming from using the web version previously. @Genevieve Cavalier - I'm definitely going to check out taxr.ai for importing my investment documents. I have about 50+ transactions from last year and was dreading the manual entry. Thanks for sharing that tip! @Debra Bai - Good point about Costco pricing. I'll compare their current sale price vs buying direct from Intuit before I purchase. Looks like I can save some money by sticking with Deluxe instead of upgrading to Premier. Appreciate all the advice!

Just wanted to chime in as someone who's been using TurboTax desktop versions for about 5 years now. The confusion between online vs desktop capabilities is totally understandable - I made the same mistake early on! One thing I'd add to the great advice already given: if you're buying the desktop version, consider getting it early in the season (like now) rather than waiting until closer to the deadline. The prices tend to go up as we get closer to April, and popular retailers like Costco sometimes run out of stock. Also, for anyone with investment income, I highly recommend doing a "practice run" with your prior year's data first if this is your first time using the desktop version. It helps you get familiar with the interface and see exactly which forms you'll need. The desktop versions let you prepare returns without filing them, so you can experiment risk-free. @CosmicCaptain - You're making a smart choice going with Deluxe for basic investments. The money you save can probably pay for a nice dinner after you finish your taxes!

This thread has been incredibly helpful! I'm in a similar situation as the original poster - switched from online to desktop TurboTax last year and wasn't sure about the version differences. One additional tip I'd share: if you're buying TurboTax desktop from a physical store (Costco, Best Buy, etc.), check that you're getting the current tax year version. I accidentally bought the 2022 version in early 2023 thinking it would work for 2023 taxes, but obviously that didn't work out! Also, for anyone hesitant about the desktop version - the customer support is actually better than the online version in my experience. When you call with desktop software questions, they can often remote into your computer to help troubleshoot issues directly rather than just talking you through steps. The investment reporting in Deluxe desktop really is solid for most people. I have a mix of regular stock trades, dividend reinvestments, and some mutual fund transactions, and it handled everything without needing to upgrade to Premier.