Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 

Will upgrading to Turbotax premier, which allows me to enter my wife's T4PS, actually lower what she owes? Or does TurboTax Deluxe take the T4PS into account?

I added a T4PS and it now says she owes an additional ~$600 in taxes. But then says we need to upgrade to TT Premier to be able to enter a T4PS.
1 Reply

Will upgrading to Turbotax premier, which allows me to enter my wife's T4PS, actually lower what she owes? Or does TurboTax Deluxe take the T4PS into account?

Yes, if you have T4PS (T4PS Statement of Employee Profit-Sharing Plan Allocations and Payments), it requires an upgrade to Premier as the Deluxe version doesn't accommodate that T-Slip.

 

Thank you for choosing TurboTax.