Tax software Basic vs Premium

3 Replies

Hello:

I currently use the basic version of H&R Block Tax software.  They have a version that is over 3 times the cost labeled "Premium - Best for self-employed or rental property owners".  I am able to do all my rentals using the Basic software but was wondering if its worth spending the extra for the advanced version.  Perhaps it provides a useful guided approach or an expanded check list for example.

Much appreciated & Thanks

https://www.hrblock.com/tax-software/ is the website that describes the difference between basic and premium.

It mentions Premium has the following that Basic does not

Reporting assistance on income from investments, stock options, home sales and retirement

Guidance on maximizing mortgage interest and real estate tax deductions

One personal state program download included — a $39.95 value. Scroll to bottom of page.

Tax calculators to help determine the cost basis of a home sale, dividend, gift, and inheritance assets

Advanced Schedule C guidance to maximize deductions for self-employment income

considering you live in a state with no income tax - you won't benefit from the state program offered unless you invest out of state.

I suppose you can try it once and if you don't like it you can go back to the basic version.

@Senthil N. - I love premium TurboTax (for rentals). It ends up costing about $100 plus $20-40 per state.

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