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TurboTax Deluxe
Online Tax Filing Software

Online Tax Filing

TurboTax Deluxe Online   >> learn more

 Software Download / CD

Turbo Tax Deluxe Online Tax Filing and Software Download or CD is a the right choice for you if:

The TurboTax Deluxe Online Edition can help you trim down your income tax liability by helping you find, and take advantage of tax deductions available through federal and state tax laws.

Use the Delux Edition to educate yourself on all the deductions you may be able to prepare for taking advantage of all year long in your occupation to insure your not giving too much cash to Uncle Sam.

TurboTax Deluxe Online Edition Features:

TurboTax Deluxe Online Edition guides you with simple questions to maximize your tax deductions. As you progress through your tax return preparation process you'll be asked simple questions about your income, family situation and changes in your tax situation and credits like job changes and family growth. Then, based on your answers to these questions, TurboTax will search through more than 350 deductions and credits to insure you take every opportunity you can to receive the biggest tax refund.

Get the Maximum Deduction for Charitable Donations. A program called ItsDeductible that is included with you TurboTax Deluxe Purchase helps you accurately value items you donate to charity, no more guess work. Plus, it tracks other all you other donations like as cash, stocks and mileage, to help make sure you get every charitable deduction you’re entitled to take on your tax return.

See Additional Tax Deduction Opportunities as You Proceed: See every tax deduction you’ve taken, and which deductions you haven’t. TurboTax Deluxe can tell you how to qualify for just about any deduction so that you don’t miss any opportunities to increase your tax refund.

How TurboTax Deluxe Helps You With Home Owner Deductions

1. Mortgage Interest. Interest that you pay on your mortgage is tax deductible, within limits. For married filers filing jointly, you can deduct interest on a maximum of $1 million in mortgage debt, $500,000 if your filing single.

2. Home Improvement Loan Interest. You can deduct the interest a loan to make substantial home improvements. The work must be a "capital improvement" and not ordinary repairs. Qualifying capital improvements are improvements that increase the home's value.

3. Mortgage Points. Closing costs usually include a lending fee called "points." One point is equal to 1% of the loan value. You can fully deduct all points from a primary home mortgage purchase. Points from refinancing a mortgage are also deductible over the life of the loan, not all at once. Homeowners who refinanced can immediately write off the remainder of point from the old mortgage.

4. Equity Loan Interest. In some instances you can deduct some of the interest you pay on a home equity loan or line of credit. However, the IRS limit is $100,000 (or $50,000 for each spouse as a married couple filing separate. Or the total of your home's fair market value minus certain outstanding debts against it as described in IRS Publication 936, Home Mortgage Interest Deduction.

5. Property Taxes. Property taxes are fully deductible from your income so long as they have already been paid in the tax year being filed. City or state property tax refund reduces your federal deduction by a like amount.

6. Home Office Deduction. You can deduct the portion of your home exclusively used for business purposes as well as home costs related to that portion, such as a percentage of your insurance, repairs, utilities and depreciation.

7. Selling Fees. TurboTax Deluxe can help you reduce your taxable capital gain by the amount of your selling costs. Real estate broker's commissions, administrative costs, title insurance, advertising costs, legal fees, and inspection fees are all considered selling fees.

8. Capital Gains Exclusion. As a married couple filing jointly you can claim an exemption for up to $500,000 of profit on the sale of your personal residence provided it was used for that purpose for two of the prior five years. Single filers can claim up to $250,000.

9. Mortgage Tax Credit. TurboTax Deluxe also help with low-income, first-time homebuyers so they can benefit from a mortgage interest tax credit of up to 20% of the mortgage interest payments made on a home. See IRS Publication 530. You must apply to your state or local government for the certificate.

10. Moving Costs. With moving for a new job you may be able to deduct some of your moving expenses if you meet several IRS requirements, including, new job is 50 miles farther from your old home than your old job was. Moving expenses may include lodging, travel or transportation, expenses and fees for storing your household goods.

Try TurboTax Deluxe federal and receive free e-file with any TurboTax software product. It's a great way to prepare your tax return with only the best guidance. TurboTax offers many add-on tax products to help you with all your tax return needs and concerns. With the TurboTax Deluxe Online Edition you can rest assured you're not leaving money on the table for Uncle Sam.