Choose the Best TurboTax Version for Your Tax Situation

Quick comparison of all TurboTax versions with features, benefits, and usage steps.

File Your Tax

Choose the Right TurboTax Version

TurboTax comes in several versions — each built for a different tax situation. Read the short description and quick steps below to choose and use the right version.

Quick tip: If you’re unsure, TurboTax Deluxe is a good middle choice for most filers. If you have investment income, choose Premier. Self-employed or small-business owners should use Home & Business or Self-Employed.

TurboTax Basic

Who it's for: Simple returns — employment income (T4/W-2), no rental or investment income, few deductions.

  • Key features: Simple interview, basic credits, file both federal & provincial/state.
  • Step to use:
    1. Choose Basic when prompted after install.
    2. Sign in to your Intuit account.
    3. Enter your employment income (T4/W-2) or import if available.
    4. Answer prompts for credits (e.g., GST/HST credit, basic personal amounts).
    5. Review & file.
  • Best when: Your taxes are straightforward and you want the fastest filing path.

TurboTax Deluxe

Who it's for: Homeowners and people with common deductions (medical, charitable donations, mortgage interest).

  • Key features: Enhanced deduction guidance, more credit searches, step-by-step help for homeowners.
  • Step to use:
    1. Select Deluxe during product selection.
    2. Import prior-year return (optional) to auto-fill common fields.
    3. Enter receipts and deduction details when prompted.
    4. Let TurboTax scan for all eligible deductions and credits.
    5. Run final review and file.
  • Best when: You itemize deductions or want help maximizing typical credits.

TurboTax Premier

Who it's for: Investors, people with capital gains/losses, rental property owners, or crypto traders.

  • Key features: Investment income forms, capital gains/loss tracking, rental property schedules.
  • Step to use:
    1. Choose Premier at setup.
    2. Import 1099s / T5s or enter investment transactions manually.
    3. Enter rental income and expenses if applicable.
    4. Review capital gains/loss calculations (TurboTax helps match cost basis).
    5. Complete review and file.
  • Best when: You have investments, rental income, or need accurate capital gains reporting.

TurboTax Home & Business

Who it's for: Small business owners, freelancers, contractors, and sole proprietors.

  • Key features: Business income and expense tracking, self-employment forms, home-office deductions.
  • Step to use:
    1. Pick Home & Business when selecting your product.
    2. Enter business income, expenses, and mileage.
    3. Prepare necessary forms (T2125, Schedule C, etc.) guided by TurboTax.
    4. Use built-in checkpoints to ensure business deductions are valid.
    5. Complete review and file (or print if you prefer).
  • Best when: You run a small business or earn freelance income and need business-form guidance.

TurboTax Self-Employed

Who it's for: Gig workers, independent contractors, and sole proprietors who want specialized self-employment guidance.

  • Key features: Expense categories, vehicle and home-office deductions, invoicing/import tools, and industry-specific help.
  • Step to use:
    1. Choose Self-Employed during product selection.
    2. Enter business income and categorize expenses.
    3. Record mileage and home-office usage if applicable.
    4. Follow TurboTax prompts to maximize self-employment deductions and credits.
    5. Review suggested deductions and file.
  • Best when: You are self-employed or have multiple freelance income streams.

Still unsure which version fits you? Choose the one that matches your income type — or start with Deluxe for a safe middle-ground.

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