"How much is TurboTax Premier?" This is a question many people ask as tax season approaches, especially those with investments, rental properties, or other complex financial situations. While the exact price can fluctuate based on when and where you purchase it, as well as promotional offers, this guide will provide you with a comprehensive breakdown of TurboTax Premier's pricing, what it includes, and why it might be the right choice for you.
Let's dive in and demystify the cost of TurboTax Premier!
Step 1: Understand Why TurboTax Premier Exists (And If It's For You!)
Before we talk about numbers, let's figure out if TurboTax Premier is even the right fit for your tax situation. Have you ever felt overwhelmed by managing your investment income or navigating the complexities of rental property deductions? If so, TurboTax Premier is designed specifically for you. It's not for simple W-2 income filers who take the standard deduction (that's typically covered by the Free or Deluxe editions).
TurboTax Premier is specifically geared towards individuals who have:
Investment income: This includes stocks, bonds, mutual funds, Employee Stock Purchase Plans (ESPPs), and even cryptocurrency transactions.
Rental property income and expenses: If you own and rent out property, Premier offers detailed guidance to help you report income and maximize deductions.
Trust beneficiary income: For those who receive income as a beneficiary of a trust.
If your financial life involves these elements, then exploring TurboTax Premier is a smart move.
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| How Much Is Turbotax Premier |
Step 2: Deciphering TurboTax Premier's Price Tag (As of Mid-2025 for 2024 Tax Year)
The price of TurboTax Premier isn't always a fixed number you can just "look up" and rely on for the entire tax season. It can vary based on several factors:
Sub-heading 2.1: Online vs. Desktop Software
TurboTax offers its software in two main formats:
Online Version: This is a cloud-based service you access through your web browser. Prices for the online version can be dynamic, often increasing as the tax deadline (April 15th) approaches.
For the 2024 tax year (filing in 2025), TurboTax Premier Online generally costs around $115 for federal filing. State filing is typically an additional fee, often around $39-$64 per state.
Desktop Software (CD/Download): You purchase and install this software directly on your computer. While the initial purchase price might seem higher, it often includes federal e-filing for up to 5 returns and one state download.
For the 2024 tax year (filing in 2025), the TurboTax Premier Desktop version is typically around $115. State e-filing for desktop versions might incur an additional $25 fee per state, though a state download is usually included.
Sub-heading 2.2: Promotions and Discounts
Keep an eye out for special offers!
QuickTip: A careful read saves time later.
Early Bird Discounts: TurboTax often runs promotions early in the tax season (e.g., December, January) where you can get the software at a reduced price.
Retailer Deals: Third-party retailers like Amazon, Costco, or Best Buy may offer their own discounts on TurboTax desktop software throughout the tax season. For example, some retailers have sold the 2024 TurboTax Premier (federal and state) for around $82.99 with discounts.
Bundles: Sometimes, you might find bundles that include both federal and state filing at a slightly lower combined cost.
Sub-heading 2.3: Live Assisted vs. Full Service
Beyond the basic "do it yourself" Premier software, TurboTax offers additional levels of support that significantly impact the price:
TurboTax Live Assisted Premier: This option provides you with unlimited access to tax experts for questions and a final review of your return before you file. While the exact pricing can vary, expect to pay significantly more for this level of assistance. As a general estimate, TurboTax Live Assisted options can range from $89 to $219 for federal filing, with state filing being an extra cost.
TurboTax Live Full Service: With this premium option, a dedicated tax expert handles your entire return from start to finish. This is the most expensive option, with prices potentially starting around $129 and increasing significantly for more complex situations, sometimes even exceeding $2,000.
Key takeaway on pricing: Always check the official TurboTax website or reputable retailers for the most current pricing for the tax year you are filing, as prices can change.
Step 3: Unpacking What's Included in TurboTax Premier
So, what exactly do you get for the price of TurboTax Premier? It's more than just tax forms; it's a suite of tools and guidance designed to simplify complex tax situations.
Sub-heading 3.1: Core Features
Comprehensive Investment Reporting:
Handles reporting for stocks, bonds, mutual funds, ETFs, and other investments.
Provides specific guidance for Employee Stock Purchase Plans (ESPPs), helping you correctly determine your cost basis for shares purchased at different times or prices.
Supports reporting of cryptocurrency transactions, which can be complex due to varying cost basis methods and multiple exchanges.
Automatically imports investment data from participating financial institutions, saving you significant time and reducing errors.
Rental Property Guidance:
Assists in reporting income and expenses for rental properties (Schedule E).
Offers guidance on refinancing and depreciation for rental properties.
Helps you track and deduct common rental property expenses.
Retirement Tax Help: Includes tools and resources to maximize your IRA savings and understand retirement-related tax implications.
Advanced Deduction & Credit Finder: Builds upon the Deluxe version by continuing to search for over 350 deductions and credits to maximize your refund, but with an emphasis on those relevant to investors and landlords.
Audit Support Guarantee: Provides one-on-one support with a tax professional if you receive an audit letter from the IRS or State Department of Revenue.
100% Accurate Calculations Guarantee: TurboTax guarantees its calculations are accurate, or they'll pay any IRS penalties.
Maximum Refund Guarantee: Aims to get you the biggest tax refund possible.
Sub-heading 3.2: User Experience and Support
Easy-to-Use Interface: TurboTax is renowned for its user-friendly, interview-style interface that guides you step-by-step through the tax preparation process.
Data Import Capabilities: Beyond investments, you can often import W-2s and 1099s directly from participating employers and financial institutions.
Real-time Refund/Tax Due Display: See your estimated refund or tax due update in real-time as you enter information.
Federal E-file Included: Most versions include free federal e-filing for up to 5 federal tax returns (desktop) or one federal return (online).
Customer Support: Offers free U.S.-based technical support by phone and easy-to-understand answers online 24/7.
Up-to-Date Tax Laws: The software is regularly updated to reflect the latest tax laws, ensuring your return is compliant.
Security: TurboTax employs robust security measures to safeguard your personal and financial information.
Step 4: Deciding if TurboTax Premier is "Worth It" for You
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Now that you know the cost and what's included, the final question is: Is it worth the investment?
QuickTip: Break reading into digestible chunks.
Sub-heading 4.1: When Premier is a Smart Choice:
Complexity is Key: If you have investment income from various sources, especially if you're actively trading or dealing with cryptocurrency, the specialized guidance and import features of Premier can save you hours of manual entry and potential errors.
Rental Property Owners: Managing rental income and expenses, including depreciation, can be intricate. Premier's dedicated tools for landlords can ensure you don't miss out on valuable deductions.
Peace of Mind: The built-in guarantees (accuracy, maximum refund, audit support) provide a significant layer of reassurance, especially when dealing with more complex tax situations.
Time Savings: The ability to import investment data and receive tailored guidance means less time spent sifting through documents and tax codes.
Sub-heading 4.2: Consider Alternatives If:
Your Investments are Simple: If your only investments are a few basic dividends or interest payments that don't require a Schedule B (and you don't have complex capital gains/losses), TurboTax Deluxe might suffice.
No Rental Properties: If you don't own rental property, many of Premier's core features won't be relevant to your situation.
Budget is Your Primary Concern: While Premier offers valuable features, if your tax situation is less complex, you might find a more affordable solution with TurboTax Deluxe or even the Free Edition (if you qualify). Other tax software providers also offer competitive pricing.
Self-Employed Income is Your Main Driver: If your primary complex income comes from self-employment (freelancing, independent contractor), you might find TurboTax Home & Business (desktop) or TurboTax Premium/Self-Employed (online) to be a better fit, as they offer more specialized tools for Schedule C filers and business deductions.
Step 5: Making Your Purchase and Getting Started
Once you've decided TurboTax Premier is for you, the next steps are straightforward.
Sub-heading 5.1: Where to Buy
Official TurboTax Website: This is often the most direct way to get the online version and ensures you're getting the latest version directly from Intuit.
Major Retailers (for Desktop Software): Amazon, Best Buy, Walmart, and office supply stores often carry the CD/download versions. Compare prices, especially during promotional periods.
Sub-heading 5.2: Installation and Setup (for Desktop)
Download and Install: Follow the on-screen prompts after purchasing the download version, or insert the CD for disc-based installation.
Activation: You'll typically need an Intuit Account and an internet connection to activate the product using your license code.
Sub-heading 5.3: Navigating the Interface
Interview-Style Guidance: TurboTax will ask you a series of questions about your income, deductions, and credits. Answer them accurately and provide the requested information.
Data Import: Take advantage of the data import feature for your W-2s, 1099s, and investment statements to streamline the process.
Review and File: Before filing, TurboTax will conduct thorough error checks (CompleteCheck®) to ensure accuracy. You can then choose to e-file for the fastest refund or print and mail your return.
Frequently Asked Questions (FAQs) about TurboTax Premier
QuickTip: The more attention, the more retention.
How to determine if I need TurboTax Premier?
You likely need TurboTax Premier if you have income from investments (stocks, bonds, crypto), rental properties, or are a trust beneficiary. If your tax situation is simpler (just W-2 income and standard deductions), a lower-tier product like Deluxe might suffice.
How to save money on TurboTax Premier?
Look for early bird discounts at the beginning of the tax season, check major retailers for promotional pricing on desktop versions, and consider if a lower-tier product (like Deluxe) would still meet your needs before upgrading.
How to upgrade to TurboTax Premier if I started with a lower version?
Yes, you can typically upgrade your TurboTax online product to Premier at any point during the filing process if you realize you need its specialized features. The software will usually prompt you if it detects a need for a higher version.
How to import investment data into TurboTax Premier?
TurboTax Premier offers automatic import from many participating financial institutions. You'll typically log in to your brokerage account through TurboTax, or you can manually enter the information or upload a CSV file if your institution isn't supported for direct import.
How to report cryptocurrency transactions with TurboTax Premier?
TurboTax Premier provides specific guidance and forms for reporting cryptocurrency transactions, including capital gains and losses. It can often import data from major crypto exchanges or allow for manual entry.
QuickTip: Pause at transitions — they signal new ideas.
How to handle rental property depreciation with TurboTax Premier?
TurboTax Premier offers detailed guidance and calculations for rental property depreciation, a crucial deduction for landlords. It will walk you through the necessary inputs to ensure proper reporting.
How to get expert help with TurboTax Premier?
If you purchase TurboTax Live Assisted Premier or TurboTax Live Full Service Premier, you'll have access to tax experts for live advice, a final review, or even to have them prepare your entire return. The standard "do-it-yourself" Premier includes free technical support and online resources.
How to know if my state return is included with TurboTax Premier?
For online versions, state filing is generally an additional cost per state. For desktop versions, one state download is usually included, but there might be an additional fee for state e-filing. Always check the specific product details before purchasing.
How to ensure maximum refund with TurboTax Premier?
TurboTax Premier includes a "Maximum Refund Guarantee" and runs thousands of error checks to help identify all eligible deductions and credits, thus aiming to maximize your refund.
How to get audit support with TurboTax Premier?
TurboTax Premier includes an "Audit Support Guarantee." If you receive an audit letter from the IRS or a state Department of Revenue based on your TurboTax return, they will provide one-on-one question-and-answer support with a tax professional.
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