TurboTax 2012 Versions, Features and Prices
TurboTax has online, Windows and Mac tax software, and an iPad app is scheduled for release in January 2013. There are six versions available and an optional state return, which is included with some desktop versions. TurboTax 2012 is including an Audit Support Guarantee with free one-on-one help from tax experts if you're audited.
TurboTax Federal Free Edition
The free edition of TurboTax 2012 is only available online. It does not include an advanced tax interview to walk you through the return since it is meant for very basic and easy to prepare returns. Users can start with TurboTax Free Edition and upgrade instantly to Basic or higher versions at any time.
- Searches for tax credits you're eligible for and files 1040EZ.
- Prompts you to upgrade if it turns out that your return is not supported.
- TurboTax Live Community provides online Tax Q&A.
- Answers to common tax questions.
- EasyGuide helps if you're not sure how to answer a question on your return.
- Includes federal e-File.
- Tech support via chat only.
- Optional state return is $27.99.
- Phone tech support.
- More advanced interview skips questions that don't pertain to your return.
- Imports data directly via the Internet for W-2 and 1099 forms so you don't have to do the data entry yourself.
- More help resources.
- Compares sales tax to state income tax where applicable to get the biggest deductible.
- Extra help for income from Social Security and Disability.
- Easy to apply for an extension.
- Windows version imports tax data files from 2011 H&R Block At Home and TaxACT tax software. Windows and Mac versions import the same data from a PDF of last year's return.
TurboTax Basic desktop tax software retails for $29.99 and includes federal e-File fees. Add one or more state returns for $44.99 per state, state e-File is $19.99 except for New York. TurboTax Online Basic is $19.99, including federal e-File and a state can be added for $36.99, which includes state e-File.
Choose this TurboTax 2012 version if you have deductions. You can prepare and e-File one tax return with TurboTax Online Deluxe, or use the desktop version for up to five returns, including e-File. TurboTax Deluxe desktop software for Windows or Mac includes a state return.
- All features in TurboTax Basic.
- Reviews deductions to find those that apply to your income taxes.
- Includes ItsDeductible for valuing noncash donations to charity and tracking mileage and cash donations.
- Guides you through life events like marriage or a new job to find deductions.
- Support for medical expense deductions.
TurboTax Deluxe desktop software retails for $59.99, which includes federal and state returns. TurboTax Online Deluxe is $29.99 and $36.99 to add a state.
The Premier version includes all features from TurboTax Deluxe and adds support for investments and rental property.
- Imports investment information from financial institutions.
- Guides you through mortgage refinance related deductions.
- Walks you through entering stocks, bonds and mutual funds sold in 2012, then calculates capital gains and losses.
- Helps with establishing a cost basis for investments and employee stock plans.
- Find the best method of rental depreciation.
TurboTax Premier for desktop computers retails for $89.99 and includes a state return. The online version is $49.99, add a state for $36.99.
TurboTax Home & Business
The Home & Business version of TurboTax 2012 includes everything in the Premier version, with additional tax help for small businesses.
- Supports small business deductions like home office and vehicle expenses, supplies, small business start-up expenses and more.
- Helps with splitting vehicle mileage between personal and business use.
- Finds industry-specific deductions.
- Creates W-2 and 1099 forms.
This version is only available for Windows PCs.
- Supports 1065, 1120S, and 1041 and includes federal e-File.
- Interview is customized for multi-member LLC, partnership, S Corp or C Corp.
- Handles multiple businesses and provides extra guidance for new businesses.
- Creates K-1 Form as a PDF for electronic submission.
- Unlimited W-2 and 1099 INT, MISC and DIV forms.
TurboTax Business 2012 retails $149.99 for a federal return, which includes e-File. Business State is $49.99, and state e-File is included. If you have multiple businesses of the same type in one state, you pay for only one state.