Updated on December 30th, 2016: Upgrading your copy of TurboTax is relatively easy in both the Online and Desktop versions of the software… and why wouldn’t it be? Naturally, TurboTax makes more money if you buy a more expensive version. The program will automatically make you upgrade your version if needed, regardless of the 2017 version you are using.
However, when it comes to downgrading, it’s not that straightforward and your options will vary depending on the version that your currently on (i.e. downgrading Turbotax Premier to Deluxe). Let’s take a look at your choices when moving to a lower priced version of TurboTax.
How to Downgrade Turbotax Online Products.
If you’ve started on the wrong version of TurboTax Online, for example on the Premier version when you actually needed the Deluxe version, then you’ll have to use the “Clear and Start over” feature. The good news though is that the start over option will not delete your TurboTax account (i.e. your login, password, etc.) and will not affect your prior year returns. Only the information that you entered for this year will be deleted. There is unfortunately no way of downgrading without beginning from scratch again which probably won’t make you very happy, especially if your near completing your tax return. That means that you’ll need to re-enter all of your W2 forms, investments, and all your other tax info again.
To find the start over link, just login to your online TurboTax account and navigate to the “My Account” tab. There you’ll see the option to “Clear & Start Over”. After you confirm the selection, you’ll be taken back to the beginning of your tax return where you can re-enter your 2016 tax-year data.
It’s just important to note that you’ll only be able to start over with a lower version on TurboTax online if you haven’t yet paid for your TurboTax purchase. If you’ve already paid and filed your tax return, there is now no way to go back and Intuit is firm in not providing refunds for the difference between the version that you paid for and the lower one that you actually needed.
Check out intuit.com for more information and to view a quick help video on starting your return all over again.
How to Downgrade Turbotax Desktop/Download Products.
If you’ve purchased the desktop/download version of TurboTax Deluxe, Premier, or Home & Business, either at Intuit directly or at a traditional reseller like Amazon, then this is where things get difficult. That’s because there’s no option to downgrade and Intuit will not issue any partial refunds for any differences between the version you bought and the one that you actually need.
But all is not lost! Intuit has a pretty good return policy and regardless where you bought your desktop/CD copy of the software, you’ll be able to return it directly to Intuit for a full refund. That includes purchases from stores like Best Buy that do not accept returns on open-box software. So just pack up your purchase, scan your receipt and send it back to them using these steps.
After you send your software in for a refund, just repurchase the version that you need and reinstall the new software on your PC or Mac (you’ll be able to see all our current TurboTax discounts to help you eve on your new purchase). Just make sure to delete your old TurboTax software first before installing your new one.
Let us know what’s on your thoughts in the comments section below.