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Visitor I

which product supports my needs

Does the Delux version cover IRAs or do I need the Premier version. I do not have rental property just an IRA.
3 Comments
TurboTax Specialist

which product supports my needs

Yes, TurboTax Deluxe can handle your IRA and retirement accounts.  You would receive a Form 1099-R for any withdrawals from your account.

 

TurboTax Premier would only be necessary if you have other investment sales (i.e. a regular brokerage account and you sold stocks) or rental property (which you already said you don't have).

Visitor I

which product supports my needs

We did sell some of our IRA and received a 1099 form for it, I’m guessing the Delux covers that as well. I’m just questioning because your second paragragh you mention selling stocks. This is a traditional IRA not an employee based 401k or a Roth IRA.

Thanks for clarifying this as I wasn’t sure which level covered all of our needs.
TurboTax Specialist

which product supports my needs

You should have received a 1099-R for any retirement withdrawals and those would be handled by the Deluxe. As long as the sales of stock were within the retirement account, then they aren't reported as investment sales so you would be fine with Deluxe.

 

I mentioned stock sales just because you mentioned rental properties so I wanted you to be aware that you would also need Premier if you had other investment sales.  So, if you had a regular brokerage account (besides the traditional IRA) and made sales in that account.  Then, you would need Premier.  Doesn't seem like that applies to you though.