This does not include your primary residence. Special rules apply to those sales . You’ll use Turbo. Tax Premier to report capital gains and losses as described above.
If you have just interest and dividends (Schedule B) you can use any version of Turbo, and tax. However, if you have capital gains /losses reported on a brokerage statement, requiring a Schedule D, you need Turbo. Tax Premier (Online) or any version of Turbo, and tax cd/download. What is the difference between Turbo. Tax Deluxe and Premier?
Although you need Turbo. Tax Premier when using Online to report the sale of any investments, you can add Capital Loss Carryovers using Turbo Deluxe.
If you run a business, you need to declare your income on a Schedule C and so you must use Turbo. Tax Self-Employed (also called Home & Business ). No other version offers this.
If you do need to report it or if it was an investment property (second home), report on Schedule D Capital Gains and Losses. Rental Properties are reported on Form 4797. Use Premier Edition for any of these sales. May 31, 2019 10:05 PM I sold a house this year. What version of Turbotax do I need? What type of house was it?
What can TurboTax Premier do for me?
At tax time, Turbo. Tax Premier will guide you through your investment transactions, allow you to automatically upload over 1500 investment transactions at once, and figure out your gains and losses.
How much are long-term capital gains taxable on stock gains?
If you have $50,000 in long-term gains from the sale of one stock, but $20,000 in long-term losses from the sale of another, then you may only be taxed on $30,000 worth of long-term capital gains. If capital losses exceed capital gains, you may be able to use the loss to offset up to $3,000 of other income.