TurboTax is the number one best-selling tax software in America, and their Premier Edition is recommended for filers with relatively complex tax returns including investments or rental property income.
Is Premier the best software for you? Let’s try to answer that question in our review of TurboTax Premier, including:
- Features – Who should use Premier?
- Customer reviews – What users say about Premier
- Premier Edition cost – Is it worth it?
- TurboTax Premier coupon (Up to $20 off!)
Turbotax Premier: Features
TurboTax Premier includes all of the features of Deluxe with additional features ideal for those with capital gains or losses from investments or those who are managing rental properties. It may also be ideal for people who have to file for elderly individuals who may have a variety of investments and/or properties managed by third parties.
Here are notable features of the Premier Edition:
For Rental Properties:
Premier is often the preferred edition of TurboTax for those who own one or more rental properties including:
- If you have refinanced any real estate in the last tax year, you may be eligible for added deductions through TurboTax Premier.
- If you wish to set up a new rental property, TurboTax Premier can help with this, too, helping taxpayers determine fair market rent value for these new properties.
- Rental property managers can easily report rental property depreciation, if applicable, to maximize their refunds.
- Report valuable real estate deductions including points, appraisal fees, and home refinance
- Guidance including determining fair market value of rental properties including AirBnB
For Investment Income:
If you have income or losses from investments, Premier might be the best edition of Turbo Tax for your needs. Notable features for investors include:
- Import investment info: Automatically import financial and investment information from hundreds of participating banks and financial institutions
- Calculate capital gains and losses through the program’s accurate reporting tool
- Find Your cost basis: Quickly discover the accurate purchase price of stocks and investments
- Thoroughly covers bonds, stocks, ESPPs, and other investment income
- One-on-one assistance with any investment questions is included with Premier
Learn more about Premier here.
Premier: Customer Reviews
There’s a phrase, “the wisdom of the masses,” which essentially means that people are best at determining the value of a product or service. So, in that spirit, let’s see what customers say in their reviews of Premier:
*Reviews through 1/01/19. The two best sources of honest and numerous customer reviews and ratings seem to be Amazon and Intuit
After reading hundreds of reviews, here are the top things that users like about TurboTax Premier:
- Simplicity: Customers state over and over how easy TurboTax is to use, the user-friendly interface, importing of financial info, and that filing their taxes wasn’t as bad as they thought it would be
- Customer service: Premier includes answers to your questions from trained professionals who can guide you through any speed bumps.
- Importing of info from previous tax returns is easy, and many customers note that they have used Premier for years with their info saved in Intuit’s cloud
- Cheaper than a CPA: Many filers with complex tax returns choose Premier, which is much cheaper than an accountant
The customer reviews for Premier are overwhelmingly positive, but not everyone has a great experience. Let’s look at the top complaints that users mentioned in bad reviews for Premier:
Here are the top “cons” mentioned in user reviews for Premier:
- Time consuming: A number of reviewers mentioned that the filing process took longer than expected, including a plethora of interview questions
- Upgrade requests: A lot of customers reported starting the filing process using Deluxe, but due to their taxes being complex, they were asked to upgrade to Premier during the process and ended up paying more than they expected
- Too Expensive: In a similar complaint to our #2 on this list, a number of people complained about added fees, unclear pricing, and that ads for their “free version” were misleading. Users also reported having trouble using a coupon. (you must log out, click coupon, log back in)
- Foreign residence: Some customers mentioned that declaring foreign earned income was difficult, and that filing from out of the country is problematic and confusing
- Tax return rejected: Several users were surprised to learn after the tax deadline that their returns were not accepted due to an incomplete or rejected return, and claimed that they were not clearly notified
Turbotax Premier Cost:
Given all that TurboTax Premier offers, it makes sense that its bill is a little steeper than the cheaper Deluxe edition. Here’s what you can expect to pay for Premier:
- Online Price: TurboTax Premier costs $79.99 online, but there is a coupon available for up to an extra $20 off here
- In-Store Price: Buying Premier on a DVD or CD at a store like Best Buy will cost more. The current average price is about $90
*Note that all editions of TurboTax are cheaper early in the tax season. After approximately March 15th, prices go up.
Taxpayers who wish to file state taxes with any TurboTax software, including the Premier edition, will have to pay an additional $39.99 for state filing. It’s possible to avoid the State fee if you file before March 15th or meet other qualifications. To see if this promotion is active, click here for today’s discount pricing.
Price: Premier vs. Other Options
If you don’t have investment or rental property income, you can consider their cheaper, highly-rated Deluxe Edition which is their most popular edition.
While it may be unpleasant to pay a total of over $100 to file your taxes with Premier, consider that the average cost to have an accountant file them is now about $275 for itemized tax returns. Well, that certainly makes the cost of Premier look reasonable!
Also consider that the price is a lot less than their Self-Employed Edition, and comparable to the cost of H&R Block’s equivalent software, their “Premium” version, which costs about $70 before coupon. So, even though a minority of users consider the software to be too expensive, it seems to be in-line with other top brands.
*Related Compare the cost of all TurboTax editions here
When Will TurboTax Premier Be Available?
TurboTax Premier is first available in late November, and the IRS starts accepting tax e-filed tax returns January 1st, 2019. Because of the many recent tax law changes, you can expect complicated returns to take longer to complete this year.
Tax Software is an Investment
TurboTax Premier’s price tag may seem daunting, but consider that a single missed deduction can cost you hundreds of dollars. For this reason, be sure that you are getting the right software for your tax situation, even if it means paying a bit more with premium software from a top name like TurboTax. The good news is that we have an exclusive discount for Premier, and all editions of TurboTax here!