If I Purchase TurboTax Home And Business Online, Can I File For More Than One Person?
If you purchase TurboTax Home And Business Online. Then, it allows you to prepare and e-file one Federal Tax Return. Along with that, you can e-file upto five associated State Returns with the same login.
TurboTax Home And Business Online allows you to e-file upto five Federal Tax Returns for every Email Address associated with a TurboTax Account. But, it requires you to generate separate Login for every Return. Besides, each Return must have a distinct Social Security or Tax ID number. Moreover, it will charge you for every single Return. In short, it doesn’t allow you to e-file for more than one Tax Return for a single purchase of TurboTax Home And Business Online.
However, this is possible with TurboTax CD/Download. Its Subscription permits tax preparation for one state. Besides that, you can prepare and print multiple Federal Tax Returns. In addition to that, it permits e-filing of up to five Federal Tax Returns at no extra cost. However, you will have to pay for additional State Tax Returns.
➥ Online Vs Desktop
Give below is a brief overview of the cost breakdown for both the Online and the Desktop versions of TurboTax. Based on an understanding of both the options, you can determine the most efficient version for your requirements.
➥ Online Version
- It allows only one Federal Tax Return for a single Turbotax Account.
- You can create up to five Online Accounts with a single Email Address
- Here, you will have to pay for every Federal Tax Return whether you “print and file” or e-file it.
- Additionally, you will be paying for every State Tax Return Program.
- Along with that, you will have to pay again at the time of “printing and filing” or “e-filing” your State Tax Returns.
➥ Desktop Version
- One time purchase of a Federal Program is installed on your Computer.
- You can create multiple Federal Tax Returns with a single purchase.
- As per IRS rule, you can e-file five Federal Tax Returns.
- Apart from that, you can Print, Sign and Mail multiple Federal Tax Returns.
- It doesn’t involve any additional cost for “Printing and Filing” or “E-filing” any number of Federal Tax Returns.
- However, it requires you to purchase State Tax Programs separately. These are installed on your Federal Program as an add-on.
- You will also have to pay for every single e-file of State Tax Return. However, you can save money by Printing and Filing your State Tax Return. In short, there is no additional charge for Printing and Filing your State Tax Return.
What To Do If You Have Already Purchased TurboTax Home And Business Online?
In case you have already purchased TurboTax Home And Business Online and want to File a Second Tax Return. Then, follow the given instructions.
- To begin with, “Sign Out” from your TurboTax Online Account.
- Then, choose the Turbotax Online Product that you want to use for the second Tax Return.
- Generate a new User ID for the second Tax Return on the following Create Account window. Remember that you can use a single Email Address to set up a maximum of five User IDs.
- Once your Account is created, prepare your second Tax Return as usual.