How Many Tax Returns Can You File with TurboTax Deluxe? The Definitive Guide

TurboTax Deluxe is a popular choice for many taxpayers who need help navigating deductions, credits, and itemized expenses. But a crucial question often arises: How many tax returns can you actually file with TurboTax Deluxe? The straightforward answer is this: TurboTax Deluxe allows you to prepare and file up to five (5) federal tax returns. You can file these returns for yourself, your spouse, or other family members. Let’s delve into the specifics and explore the frequently asked questions surrounding this limitation.

Understanding TurboTax Deluxe Filing Limits

The five-return limit applies specifically to the federal returns you prepare using TurboTax Deluxe. This means you can’t file more than five federal tax returns using a single license. It’s important to understand that this limitation refers to electronic filing (e-filing). You can always prepare additional returns using TurboTax Deluxe, but you will need to print and mail them instead of e-filing them.

Why the Limit?

The limit is imposed by Intuit, the maker of TurboTax, as part of their licensing agreement and business model. Each TurboTax product is designed to cater to a specific segment of taxpayers, and the filing limits reflect this. They also have different product versions to accommodate people that might have more complex needs or requirements.

Frequently Asked Questions (FAQs) about TurboTax Deluxe Filing Limits

Let’s dive into some common questions to provide a more complete understanding of TurboTax Deluxe filing capabilities.

FAQ 1: What Happens if I Need to File More Than Five Federal Returns?

If you need to file more than five federal returns, you have a few options:

• Purchase an Additional TurboTax Deluxe License: The simplest solution is to buy another copy of TurboTax Deluxe. This will give you another five federal e-files.
• Upgrade to TurboTax Premier or Self-Employed: These versions often include the ability to file more federal returns. Check the specific product details for their e-filing limitations.
• File Additional Returns by Mail: As mentioned earlier, you can prepare additional returns with TurboTax Deluxe and then print and mail them to the IRS.

FAQ 2: Does the Five-Return Limit Include State Tax Returns?

No, the five-return limit applies only to federal tax returns. You can typically file an unlimited number of state tax returns with TurboTax Deluxe, provided they are supported by the software and you have purchased the necessary state modules. Each state typically comes as a separate download for a fee.

FAQ 3: What if I Need to Amend a Tax Return? Does That Count Against the Five-Return Limit?

Amending a tax return does not count against your five-return limit. You can amend as many tax returns as needed without it affecting the number of original returns you can file. Amended returns are filed using Form 1040-X and typically need to be printed and mailed in for processing.

FAQ 4: Can I Transfer My TurboTax Deluxe License to Another Person?

No, TurboTax licenses are generally non-transferable. Each license is intended for use by a single taxpayer or family. Sharing or transferring your license violates the terms of service.

FAQ 5: I Have a Home Business. Is TurboTax Deluxe the Right Choice for Me?

TurboTax Deluxe is designed for taxpayers with common deductions and credits, such as the standard deduction, itemized deductions (mortgage interest, property taxes), and child tax credits. If you have a more complex business situation, TurboTax Self-Employed might be a better fit. It is tailored to handle self-employment income, expenses, and deductions more effectively.

FAQ 6: Can I Use TurboTax Deluxe to File Tax Returns for My Clients?

No, TurboTax Deluxe is intended for personal use, not for professional tax preparation services. If you prepare taxes for clients, you should use professional tax software designed for that purpose, such as TurboTax ProSeries or Lacerte.

FAQ 7: Does TurboTax Deluxe Support All Tax Forms and Schedules?

TurboTax Deluxe supports many common tax forms and schedules. However, it might not support all of them. For example, it may not be suitable for complex partnership or S corporation returns. Check the TurboTax website or product documentation to see if it supports the specific forms you need.

FAQ 8: What if I Accidentally Exceed the Five-Return Limit?

If you accidentally exceed the five-return limit when e-filing, TurboTax will likely prevent you from submitting the excess return. You’ll need to either purchase another license, upgrade to a higher version, or file the additional return by mail.

FAQ 9: Can I Prepare Multiple Returns at the Same Time with TurboTax Deluxe?

You can prepare multiple tax returns using TurboTax Deluxe, but you can only work on one at a time within the software interface. You’ll need to save each return separately and then open the next one. The software manages each return independently.

FAQ 10: What Happens to My Data After I File My Tax Return?

TurboTax securely stores your tax data for a specified period, allowing you to access it for future reference or for amending your return. Check Intuit’s data retention policies for the exact timeframe. You also have the option to download a copy of your tax return for your own records.

FAQ 11: How Can I Track How Many Returns I’ve Filed with TurboTax Deluxe?

TurboTax typically displays a counter or notification within the software that indicates how many of your five allowed federal e-files you have used. Keep an eye on this to avoid accidentally exceeding the limit.

FAQ 12: Is TurboTax Deluxe the Best Option for Simple Tax Situations?

For many taxpayers with straightforward tax situations – wage earners taking the standard deduction or claiming common credits – TurboTax Deluxe is an excellent and cost-effective choice. However, if you have significant self-employment income, rental property, or other complex financial activities, consider exploring TurboTax Premier or Self-Employed for more comprehensive support. Remember to carefully evaluate your individual tax situation and select the version that best meets your needs.

By understanding the filing limitations and frequently asked questions surrounding TurboTax Deluxe, you can make an informed decision and navigate the tax preparation process with confidence.