TurboTax Live Deluxe, Full Service, Premier, Basic (2024)
JA
Summary:
TurboTax Live Deluxe, Full Service, Premier, and Basic are some of the tax software options TurboTax offers. All of these products have one thing in common: A tax expert will review your return line-by-line, answer any questions you have along the way, and help you get the biggest refund possible.
Tax season is upon us. Whether it’s your first time filing returns or you’re a seasoned pro, choosing the right TurboTax version for your tax needs can be daunting.
In this article, we’ll break down the various TurboTax products — TurboTax Live Deluxe, Full Service, Premier, Basic — so you can make an informed decision when it comes to selecting the most suitable tax software for you.
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What services does TurboTax offer?
TurboTax is a tax preparation software that offers a wide range of services for individuals, businesses, and tax professionals. Depending on the complexity of your tax return, you can choose from several different product tiers — Basic, Deluxe, Premier, and Self-Employed — and how involved you’d like a tax expert to be — Live Assisted and Full Service.
Because of all the different combinations of services offered, use the table below to decide what service may be best for you (please note these are the fees and features at the time of publication but can change at any time):
| Product tier | Price | Includes | |
|---|---|---|---|
| DIY options | Basic* | $0 |
|
| Deluxe | $59 federal $59 per state |
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| Premier | $89 federal $59 per state |
| |
| Self-employed | $119 federal $59 per state |
| |
| TurboTax Live | Basic | $89 federal State included |
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| Deluxe | $129 federal $64 per state |
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| Premier | $179 federal $64 per state |
| |
| Self-employed | $209 federal $64 per state |
| |
| Full Service | Basic | $209 federal State included |
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| Deluxe | $259 federal $64 per state |
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| Premier | $369 federal $64 per state |
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| Self-employed | $399 federal $64 per state |
| |
| *Only for simple returns. Make sure you qualify before using this software. |
Pro Tip
If you’re expecting to include multiple forms of income on your return, like unemployment income or dividend income, you may want to immediately look at TurboTax Deluxe and above. Starting at the Deluxe level, TurboTax provides for itemized deductions in addition to reporting capital gains and losses.
What is TurboTax Live?
TurboTax Live is a premium service offered by the popular tax preparation software — TurboTax. With this upgraded version, you can access the help of a tax pro right from the comfort of your couch.
TurboTax’s qualified tax professionals or CPAs (certified public accountants) are available to answer your questions and review your taxes while you complete them. So, if you don’t want to go it alone in filing your taxes, TurboTax Live is an option to consider.
You can choose between two levels of service: TurboTax Live Assisted and TurboTax Live Full Service.
TurboTax Live Assisted
With TurboTax Live Assisted, you can connect with a team of tax experts or CPAs that’ll help you understand the tax forms and make sure you’ve inputted your information accurately. They can also review your tax return before you submit it to the IRS. You can speak to an expert through chat, phone, or a one-way video call.
With unlimited help and guidance from a team of experts, you could better understand your taxes and avoid making errors that could get you in trouble with the IRS.
TurboTax Live Full Service
If you don’t want to do your taxes yourself, you can upgrade to TurboTax Live Full Service. In this version, a dedicated tax expert will do taxes for you from start to finish. All you have to do is snap photos of your tax documents and upload them using a secure document share. Then, your TurboTax Live Full Service tax expert will take care of the rest.
Though this service is more expensive than TurboTax Live Assisted, it’s more hands-off — great for those who don’t have time to file taxes themselves. Plus, TurboTax will match you with an expert who understands your unique tax situation and can ensure that you receive the maximum refund.
How much does TurboTax Live cost?
How much TurboTax Live costs will depend on the product tier you choose (Basic, Deluxe, or Premier) and how much help you need from a tax professional (Assisted or Full Service).
TurboTax Live Assisted
- Basic: $89 (state return included)
- Deluxe: $124 ($64 for an additional state return)
- Premier: $179 ($64 for an additional state return)
TurboTax Live Full Service
- Basic: $209 ($54 for an additional state return)
- Deluxe: $259 ($64for an additional state return)
- Premier: $369 ($64 for an additional state return)
If TurboTax’s products don’t fit within your budget, don’t worry. Consider alternative tax preparation software on the market. Just be sure to research the features of each software to ensure they cater to your tax situation and can help you file your taxes accurately and on time this tax season.
Pro Tip
Keep in mind that these prices may differ depending on when you purchase the software. For instance, TurboTax typically often offers discounts for early tax filers at the beginning of the tax season.
TurboTax Live Basic features
TurboTax Basic, as its name suggest, is the most basic TurboTax product and is only available (for free) to those with simple tax returns. A simple tax return is one that’s filed using IRS Form 1040 only. Plus, you only need to claim the Earned Income Tax Credit, Child Tax Credit, and student loan interest deduction.
Though it’s TurboTax’s free edition, you can upgrade to TurboTax Live Assisted Basic to receive assistance from tax experts for an extra cost. Here are some notable features of this product tier:
- Covers tax credits for your dependents. TurboTax Basic will help you determine who qualifies as your dependents so you can claim tax credits like the Earned Income Tax Credit and Child Tax Credit.
- Files on the go. TurboTax Basic saves your info automatically so you can switch devices and pick up where you left off. You can also file taxes from your phone with their mobile app.
- Saves past tax returns. If you’re a returning TurboTax customer, TurboTax Basic will automatically transfer your tax information from last year to save you time.
Pro Tip
To find out whether you’re eligible for the TurboTax Basic edition, check out this page by TurboTax that explains what qualifies as simple tax returns.
TurboTax Live Deluxe features
If you don’t qualify for TurboTax Basic, you may need to upgrade to TurboTax Deluxe to file your tax return. With this product tier, you can also upgrade to the Live version if you need guidance from TurboTax professionals. Here’s what TurboTax Deluxe comes with:
- Deduction finder. TurboTax Deluxe’s deduction finder searches more than 350 tax credits and deductions to help you get the biggest tax refund and every dollar you deserve.
- Auto-importing. TurboTax Deluxe comes with an auto-importing feature to help you easily import your mortgage and investment information.
- Guidance for homeowners. This TurboTax version is great for homeowners since it helps you maximize mortgage and property tax deductions.
- ItsDeductible app. The TurboTax Deluxe edition allows you to access an app called ItsDeductible that helps calculate the value of your charitable donations.
TurboTax Live Premier features
TurboTax Premier is one tier above the Deluxe edition. Though it’s pricier, it offers more features and is great for those with investment or rental income. If you need help filing your taxes with TurboTax Premier, you could also upgrade to the Live version to receive guidance from tax experts. Here are what’s included in TurboTax Premier:
- Investment tax reporting. TurboTax Premier helps you report the sales of your investments, such as stocks and bonds, or calculate capital gains and losses.
- Employee stock plan support. If you bought or sold employee stock, consider upgrading to TurboTax Premier since it’s great for helping calculate the correct basis for stocks purchased. Plus, TurboTax can handle over 10,000 stock transactions.
- Covers crypto. If you own cryptos like Bitcoin or Ethereum, TurboTax Premier can calculate your gains and losses so that you report them accurately on your tax return.
- Guidance on rental property expenses and deductions. If you own an investment or rental property, TurboTax Premier will help you with deductions, depreciation, and getting your maximum refund.
IMPORTANT! Keep in mind that TurboTax also offers a self-employed version of their tax software. Though it’s the most expensive version, it can be helpful to have this tool when filing as a self-employed individual.
Should you upgrade to TurboTax Live?
It depends. With the ability to connect directly with CPAs and experienced tax professionals, TurboTax Live offers a safety net for anyone who needs it.
Olivier Wagner, founder of the tax firm 1040 Abroad, says, “If you’re unsure about certain aspects of your taxes or want the reassurance of having a live expert available to help, TurboTax Live may be worth the extra cost.” But if you’re confident about filing taxes on your own, the regular TurboTax products should do the trick.
FAQs
How do you speak to a live person at TurboTax?
If you have a question about your tax returns and would like to speak to a tax expert in TurboTax Live, select the floating “Live Help” button on your screen. Then, select “Connect with live help” at the top of the chat window. After inputting your question, choose your preferred communication method — phone, chat, or one-way video call.
If you haven’t upgraded to TurboTax Live but want to speak to a live person at TurboTax, call the customer service number at 1-800-446-8848.
Will TurboTax experts understand your tax situation?
Yes, TurboTax will match you with the right experts who have experience handling the type of tax situation you’re dealing with. Your tax expert will also have read-only access to your tax return to help them better understand your situation. If needed, you could share additional tax documents with the experts through TurboTax’s online system.
Note that if you upgrade to Live Assisted, you have access to a team of experts who can provide you with advice and guidance. But if you need a dedicated tax expert to do your taxes from start to finish, upgrade to Live Full Service.
How to cancel TurboTax Live?
Sometimes you think you need more help than you actually do, which is why TurboTax makes it easy to cancel your Live service. There are two ways to cancel TurboTax Live:
- If you started in TurboTax Live and haven’t paid yet. Clear your tax return and start over. After that, you could choose the TurboTax product that best suits your tax filing needs.
- If you started in another TurboTax product but upgraded to TurboTax Live. As long as you haven’t used the tax expert feature, you can cancel or downgrade TurboTax Live by opening your tax return and selecting “File.” Then, proceed through the screens until you reach a page that says, “Just a few steps left…” Then, click “Start” or “Revisit” next to “Step 1: Review Your Order.” Finally, select the “Downgrade” button on the order summary page, and you’re done.
Can you get a refund if you don’t want to use TurboTax Live anymore?
Yes, you may be able to get a refund for TurboTax Live if you decide not to use the service anymore. However, the refund policy may vary depending on the specific circumstances, such as the timing of the request and the reason for the cancellation.
If you purchased TurboTax Live and haven’t started working on your tax return, you can generally get a refund within 60 days of the purchase date. If you’ve already started working on your tax return, the refund may be prorated based on the amount of work that has been done.
To request a refund, contact TurboTax customer support by phone or through their website. Be prepared to provide your order number and a reason for the refund request. It’s always a good idea to review the terms and conditions of the purchase before buying a service or product to understand the refund policy.
How can you upgrade to Live TurboTax?
If you started with a different TurboTax product and would like to upgrade to TurboTax Live, sign into your account and open your tax return. Then select “Live Tax Advice” and click the “Upgrade” button.
How do you schedule a review using TurboTax Live?
In TurboTax Live, an expert will review your tax return before you submit it to ensure everything looks good. Here’s how to schedule a review:
- Sign into your TurboTax Live account.
- Open or continue your tax return.
- Finish entering all required information for your return and proceed to the “Review” section.
- In the “Review” section, TurboTax will ask if you’d like to connect with an expert for a final review of your tax return.
Key Takeaways
- TurboTax Live is a premium service where a tax preparer can gain access to tax experts for advice and review.
- There are two versions of TurboTax Live: TurboTax Live Assisted, which provides unlimited help and guidance from a team of experts, as well as TurboTax Live Full Service, where an expert does your taxes from start to finish.
- TurboTax Basic is the most basic edition designed for those with simple returns. However, users can upgrade to the Live version for additional assistance.
- The Deluxe editions include features like the deduction finder and auto-importing technology, while Premier offers investment tax reporting and assistance with rental property expenses. With these editions, you can also upgrade to the Live versions if you need help filing your taxes.
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