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TurboTax Income Tax Software And Stock Options


TurboTax software does a great job making filing taxes easy.


TurboTax Deluxe will handle form 1040 as well as schedule A deductions including investment income.


Oddly TurboTax Deluxe does not handle stock options which are fairly common nowadays.


Those who need to claim taxable income from NQ or ISO stock options will need to use TurboTax Premier which can handle form 1040,schedule A and stock option income.


As a bonus TurboTax Premier also does a great job with Schedule C income from a small business.

TurboTax Requires TurboTax Premier For Stock Options

Starting in the tax year 2004 TurboTax changed from offering stock option features in TurboTax Deluxe to requiring that tax filers purchase TurboTax Premier.


I actually ended up returning TurboTax Deluxe when I found out it would not cover my stock option income. Lucky for me I received a free TurboTax state download included in my TurboTax Premier package so everything worked out.


For those with stock option income the key is to buy the correct version of TurboTax software to fit your situation, and in this case, TurboTax Premier is the one you need.

Do Your Own Taxes With TurboTax Income Tax Software

TurboTax Income Tax SoftwareJob ads in the classifieds mention stock options more and more frequently. Companies are offering this benefit not just to top-paid executives but also to rank-and-file employees.


What are stock options? Why are companies offering them?


Are employees guaranteed a profit just because they have stock options? The answers to these questions will give you a much better idea about this increasingly popular movement.

Let's start with a simple definition of stock options:

Stock options from your employer give you the right to buy a specific number of shares of your company's stock during a time and at a price that your employer specifies.

HR Block Income Tax SoftwareBoth privately and publicly held companies make options available for several reasons:

  • They want their employees to feel like owners or partners in the business.

  • They want to attract and keep good workers.

  • They want to hire skilled workers by offering compensation that goes beyond a salary.

    • Start-up companies do this to hold onto as much cash as possible.


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