Online Tax Filing Software
TurboTax Premier Online >> learn more
Software Download / CD
TurboTax Premier Online Tax Filing will work well for your tax preparation needs if:
- You would like to take advantage of tax preparation guidance and deductions for your income and investment rental properties and other investments.
- You capitol gains from stocks, bonds, or mutual funds you sold, or options for an employee stock plan.
- You need to apply tax preparation data for being a beneficiary of an estate or trust and you received a K-1 form.
The Premier Edition was designed by TurboTax to help you get the most out of your investments and rental property deductions.
With TurboTax Premeir you can find many different ways to manipulate your investment income in order to insure your not paying more taxes than you have to.
Analyze and organize your taxes to insure you get the biggest tax refund possible. It's the best tax return software choice for investors looking to take advantage of tax breaks and investment deductions.
TurboTax Premier offers Schedule E Support.
Organizing your income and expenses along with keeping detailed summaries
of rental property repairs and maintenance will help you benefit the most
from rental property tax laws.
With the mounds of paperwork income properties can generate, it's good to have a go-to products that can help simplify cost basis, income, and expense management. TurboTax Premier helps in the management of making sure you account for all the data needed to insure your taking every deduction available, including rental depreciation. Some of the data TurboTax evaluates includes:
- The purchase price of the rental or income properties you own.
- Accumulated depreciation, along with current annual depreciation on your property.
- Rental income and expenses related to your rental properties including:
- Commissions or property management fees
- Cleaning, maintenance, and repair costs
- Homeowners insurance and HOA dues
- Advertising costs
- Utilities, landscaping, garbage, etc.
- Real estate taxes and mortgage interest expenses
Using the Premier Edition for Stocks and Bonds
Knowing the difference between ordinary income and capital gain income is a big factor for determining how an investment is taxed. Different reporting procedures and tax rates may apply.
If your investment generates interest, that income is most likely considered to be ordinary income. If you sell an investment, in general, a capital gain or loss will need to be applied. Adfditional rules apply to dividends. It's important to understand your assets and how they impacts your capital gain or loss when you sell or exchange it.
Stocks and bonds can be nice low maintenance investments until it's time to fill out your federal tax return. At that point, a product like Turbo Tax Premier can show you how to report your investments and how are they taxed based on net investment income.
TurboTax Premier Support for Mutual Funds
Mutual funds are an investment that can offer many benefits like diversification,
professional management and convenient purchase options. However, income
tax issues associated with owning mutual funds can be a bit confusing.
Mutual fund tax laws provide for the fund to pass along earnings and tax consequences to the mutual fund shareholders by distributing dividends, interest and net realized capitalized gains. Generally these distributions are done late in the year and are reported on a Form 1099. The shareholders will then list these on their individual income tax returns.
When selling your mutual fund shares, TurboTax helps you take into consideration the cost basis in the shares you own. The cost basis is compared to the sales proceeds to determin if you have a gain or loss. Your basis starts with the original purchase price and adjusts with distributions you receive.
TurboTax Premier offers top notch tax support for investments!