Hello,
I've been using TurboTax since I started filling taxes back in university. I've always used the personal one which is now Deluxe.
I recently bought shares in a privately owned Canadian company based out of Ontario where I have been employed for the past 6 years.
The other shareholders and I decided to sell the company.
Based on how everything is looking. I will be getting
- Capital Gains from the sale
- Inelgible Dividends
- Eligible Dividends
I didn't take a loan out to buy the shares and I've never received dividends from the company prior to this, so I just file my personal taxes as I normally would. I've just passed the two year of owning the shares so receiving all these dividends and capital gains has me stumped.
A couple questions,
1.Which product should I purchase in order to file my taxes properly
2. Is there a trial version or old version that's free that I could use to play around in and see if I can it myself before going the accountant route?
3. What are some gotchas that I should watch out for when filing it myself.
Thanks
You will use our TurboTax self-employed. This will cover everything you need. You can do a fake return in a TurboTax self-employed 2020 software. You will only be able to use our Online version for this fake return and only go until you need to pay- before the review section.
Thank you for choosing TurboTax.
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