TurboTax 2016 Review | Basic, Deluxe, Premier, Home & Business

[@GloriaRodriguez-ft2bi]

Can this only be used for one person like ourself or can we use this program for several family members tax return ?

[@Topfinancialtools]

You can use it for several family members. You can e-file up to 5 federal returns and print/mail an unlimited number of federal returns.

[@timblake5844]

Which version of Turbotax do I need to file a schedule C for small business income?

[@Topfinancialtools]

I would recommend TurboTax Home & Business, which will provide additional guidance for the small business income and expenses. You can get it here: www.topfinancialtools.com/turbotax-comparison-chart-fullpage/

[@SamOmbongi]

I own a business which an LLC but it is taxed as a partnership which version would you recommend

[@Topfinancialtools]

You would need to use TurboTax Business to file the tax return for the partnership. You can get it here: www.topfinancialtools.com/turbotax-business

[@danielrubio468]

what if i am a full time student and my school sent me a tax form im guessing for the pell grant i received. is there an option for that. do you know if i would get a credit of some sort? or perhaps have to pay back the grant? what do you think? thx

[@Topfinancialtools]

I would have to advise you to seek guidance from a certified CPA or tax professional for questions related to your personal tax situation.

[@jairoc5156]

Is there an additional fee for the forms used in turbo tax 2016 ? I found turbo tax online w/o purchasing any versions. I was wondering does your version inform you of the final cost to file? or by purchasing turbo tax there are no other fees other than what you paid for the turbo tax 2016. I was also was wondering is the online version safe. Hope to hear from you soon. Thanks

[@Topfinancialtools]

There are different costs depending on your situation. Here's a brief comparison of the online vs the desktop versions: www.topfinancialtools.com/blog/turbotax-desktop-or-turbotax-online/

[@CraigsCuts]

If I own an LLC would I use "business" version of turbotax?

[@Topfinancialtools]

If your LLC is taxed as an S corp or C corp, yes you would use the "Business" version. If it is taxed as a sole proprietorship, you would use the "Home & Business" version.

[@CraigsCuts]

Top Financial Tools thank you! Am I still able to do my personal taxes through the "business" version of turbotax?

[@Topfinancialtools]

No, the "Business" version only supports filing corporate tax returns. You would need to get one of the other versions to file your personal taxes.

[@CraigsCuts]

Top Financial Tools Thank you! I want to make sure that I can file both the personal and business taxes at once...my LLC is S corp so would I need to get 2 separate versions of turbotax? Or is the "home and business" version equipped with the right tools for my personal taxes and my S corp business ? I'm still a bit confused to the benefits of the "business" only version if "home and business" can accomplish the same thing

[@Topfinancialtools]

If your business is an S corp, you need to use TurboTax Business for that tax return. Then you need to use either Deluxe, Premier, or Home & Business for your personal return. The "Home & Business" version is only for people who file their business taxes on a Schedule C on their personal tax return.

[@chaebeauty4940]

Hi do this software let you split refund deposit?

[@Topfinancialtools]

Yes you can split your refund into different deposit accounts.

[@tannerbeverley26]

if i file an extension, does it know what form you need? cause i sure dont!

[@Topfinancialtools]

Yes, TurboTax will file the proper form. When you open the software, on the main screen there is a grey button called "File an Extension". Just click this button and follow the prompts.