Turbo Tax 2020: Who's Using It and What Version?

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Discussion Overview

The thread discusses various experiences with Turbo Tax for the 2020 tax year, focusing on the different versions being used by participants and their respective features.

Discussion Character

  • Anecdotal, Opinion-based

Main Points Raised

  • One participant mentions using the Standard version and has already received their refund.
  • Another participant shares their experience using the Home and Business version and is currently waiting for their return.
  • Several participants inquire about the differences between the Home and Business versions.
  • One participant believes the Business version has more detailed forms, while noting that Schedule C is included in the Home version.
  • Another participant expresses surprise that Schedule C is included in the Home version, indicating it could save them money.
  • One participant mentions filing with the Home version and Schedule C as well.
  • Another participant states they have the Deluxe version and are in the process of filing.

Areas of Agreement / Disagreement

Views differ regarding the necessity of the Business version versus the Home version, with some participants believing the Home version suffices for their needs.

Contextual Notes

Participants are primarily discussing their personal experiences with Turbo Tax in relation to their roles as Pampered Chef consultants.

Who May Find This Useful

Consultants considering which version of Turbo Tax to use for their tax filings may find the shared experiences relevant.

Admin Greg
Admin Greg
Staff member
Messages
9,547
anyone using turbo tax this year? if so, what version?
 
Standard version here. Already got our refunds 2 weeks ago. :)
 
We used the home and business version. Waiting on our return, anytime now.:love:
 
  • Thread starter
  • #4
what is the difference between the home and business versions?
 
I think the business one has more detailed forms. If you usually fill out Schedule C (that's what the rest of us around here use for PC), it's included in the Home version, no need to pay extra for the business version.
 
chefann said:
If you usually fill out Schedule C (that's what the rest of us around here use for PC), it's included in the Home version, no need to pay extra for the business version.
Click to expand...

REALLY! I didn't think it was. I'll have to look extra close. That could save us several dollars.
 
chefjeanine said:
REALLY! I didn't think it was. I'll have to look extra close. That could save us several dollars.
Click to expand...

I filed home version with schedule C as well.
 
chefann said:
I think the business one has more detailed forms. If you usually fill out Schedule C (that's what the rest of us around here use for PC), it's included in the Home version, no need to pay extra for the business version.
Click to expand...

For me, I buy it for the piece of mind and knowing New York State, there is probably a few more hoops of fire we need to jump through!!
 
I have the deluxe version. I am filing now...:(
 

Frequently Asked Questions

What is TurboTax 2020?

TurboTax 2020 is a tax preparation software developed by Intuit that helps individuals and businesses file their federal and state tax returns. It offers various versions tailored to different tax situations, including options for self-employed individuals, homeowners, and those with investments.

Who is using TurboTax 2020?

TurboTax 2020 is used by a wide range of individuals, including self-employed professionals, freelancers, small business owners, and everyday taxpayers looking for an easy way to file their taxes. It is particularly popular among those who prefer to handle their taxes independently without the assistance of a tax professional.

What versions of TurboTax 2020 are available?

TurboTax 2020 offers several versions to cater to different needs: TurboTax Free Edition for simple tax returns, TurboTax Deluxe for homeowners and those claiming deductions, TurboTax Premier for investors and rental property owners, and TurboTax Self-Employed for freelancers and business owners. Each version provides specific features and tools to assist users based on their tax situations.

Is TurboTax 2020 suitable for first-time users?

Yes, TurboTax 2020 is designed to be user-friendly and is suitable for first-time users. The software provides step-by-step guidance, easy-to-understand language, and helpful prompts to assist users in completing their tax returns accurately. Additionally, the Free Edition is a great starting point for those with simple tax situations.

Can TurboTax 2020 handle state tax returns?

Yes, TurboTax 2020 can handle state tax returns. Users can file their state taxes in addition to their federal return, although some versions may require an additional fee for state filing. The software provides guidance on state-specific tax laws and deductions to ensure accurate filing.

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