Author Topic: H&R block Deluxe vs Premium  (Read 17985 times)

ca-rn

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H&R block Deluxe vs Premium
« on: December 16, 2023, 12:04:39 PM »
Does anyone with rental property and brokerage accounts use H&R Block Deluxe vs Premium for their tax returns?

I've always used their Premium version b/c I have rental property (Sch E) and brokerage/taxable accounts which points me to buy their Premium version.

But I've read elsewhere the their Deluxe version is capable of filing all the same forms as the Premium. 
For the rental, I skip the interview and do the inputs myself.

For the brokerage accounts, TLH, international interest and back door Roth IRA- I could use some hand holding. 

Does the Deluxe version lack/omit interview steps for rental income and for brokerage accounts that's included in the Premium version?

Sibley

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Re: H&R block Deluxe vs Premium
« Reply #1 on: December 16, 2023, 12:45:00 PM »
If you just want to fill out the forms, the IRS has had that functionality for years. Check if that would work, would be cheaper.

ca-rn

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Re: H&R block Deluxe vs Premium
« Reply #2 on: December 16, 2023, 01:02:53 PM »
If you just want to fill out the forms, the IRS has had that functionality for years. Check if that would work, would be cheaper.

I'm not that confident in filling out all the forms all by myself!  Ended up getting the Deluxe with state version for $20- will try it out and see...

Chris Pascale

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Re: H&R block Deluxe vs Premium
« Reply #3 on: December 18, 2023, 06:44:12 PM »
I've always used a CPA and I've never had a tax issue.

bacchi

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Re: H&R block Deluxe vs Premium
« Reply #4 on: December 18, 2023, 08:51:34 PM »
H&R Deluxe works fine for Schedule E, Schedule B, and Schedule D. It even handles Form 6781 (futures trading).

However, it does not work when Schedule E is a loss (common for rental properties), you have Schedule C income, and you take ACA subsidies. It requires that you print out the forms and do the tedious and complex IRS worksheets yourself. I switched to Turbo Tax for that reason.

jinga nation

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Re: H&R block Deluxe vs Premium
« Reply #5 on: December 19, 2023, 05:18:07 AM »
H&R Deluxe works fine for Schedule E, Schedule B, and Schedule D. It even handles Form 6781 (futures trading).

However, it does not work when Schedule E is a loss (common for rental properties), you have Schedule C income, and you take ACA subsidies. It requires that you print out the forms and do the tedious and complex IRS worksheets yourself. I switched to Turbo Tax for that reason.

This.
Wife's a tax CPA. She prefers TurboTax Home & Business for our rental income. We only buy it when she isn't working for a tax firm (where she can prep and file for free). It was $86 on Black Friday 2023.

ca-rn

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Re: H&R block Deluxe vs Premium
« Reply #6 on: December 19, 2023, 12:45:24 PM »
H&R Deluxe works fine for Schedule E, Schedule B, and Schedule D. It even handles Form 6781 (futures trading).

However, it does not work when Schedule E is a loss (common for rental properties), you have Schedule C income, and you take ACA subsidies. It requires that you print out the forms and do the tedious and complex IRS worksheets yourself. I switched to Turbo Tax for that reason.

Thank you! 
I'm at the end of depreciation, mortgage interest and running positive on Schedule E.  No Schedule C and no ACA subsidies yet. 

I'll see how this return goes and then either switch back to their Premium version if it doesn't go well or until I FIRE and have to deal with ACA.

bacchi

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Re: H&R block Deluxe vs Premium
« Reply #7 on: December 20, 2023, 09:56:45 AM »
H&R Deluxe works fine for Schedule E, Schedule B, and Schedule D. It even handles Form 6781 (futures trading).

However, it does not work when Schedule E is a loss (common for rental properties), you have Schedule C income, and you take ACA subsidies. It requires that you print out the forms and do the tedious and complex IRS worksheets yourself. I switched to Turbo Tax for that reason.

Thank you! 
I'm at the end of depreciation, mortgage interest and running positive on Schedule E.  No Schedule C and no ACA subsidies yet. 

I'll see how this return goes and then either switch back to their Premium version if it doesn't go well or until I FIRE and have to deal with ACA.

To be clear, it's the trifecta combination that fails. The iterative nature of the ACA subsidies with the self employment income, combined with an E loss, causes an error. I turned a slight E loss into a slight gain and it works.