Updated on Monday March 16th, 2020: If you bought a hard copy of TurboTax and, with the box opened and the software installed, you now realize that you need to upgrade to a higher version of TurboTax then don’t worry because it’s really easy to do (unlike downgrading which is slightly more difficult). You can upgrade from almost every TurboTax version within the software itself and without having to return it to the store that you bought it from. Let’s take a look at how this is done and if it’s worth it.
How to upgrade TurboTax versions
Once you have your version of TurboTax installed and open on your computer, just click on the “Upgrade for Additional Help” link at the top right of the window (should be the same link on both PC and Mac versions). A new pop-up will appear and here you’ll be able to choose the version that you need and click “Upgrade Now”. Here you’ll be able to choose the version you need and will be taken to the payment section to process the upgrade. Just remember that once you pay for the upgrade, you won’t be able to downgrade to a lower version if you change your mind at a later time – It’s a one-way street.
Not all versions are upgradable (specifically, you can not upgrade to the Business version from any of the other Turbotax versions due the complexity of the software). These are your available upgrade paths:
- Basic can be upgraded to Deluxe, Premier, Self-Employed or Home & Business.
- Deluxe can be upgraded to Premier, Self-Employed or Home & Business.
- Premier can be upgraded to Self-Employed or Home & Business.
If that wasn’t enough options for you, then you can also go from any of the regular versions of TurboTax up to the “live” corresponding versions of the software.
What’s the cost to upgrade?
The cost to upgrade will depending on the version that you’re upgrading from and the version you’re going to. Intuit will charge you the difference between products based on the suggested retail price of both products (even if you bought your existing version somewhere on sale for less). Here are the respective upgrade costs for the Federal versions last year, excluding any fees for additional State tax returns. Please note that this year’s prices may slightly differ:
- Upgrade cost from Basic to Deluxe is about $30.00
- Upgrade cost from Basic to Premier is about $60.00
- Upgrade cost from Basic to Home & Business is about $70.00
- Upgrade cost from Deluxe to Premier is about $30.00
- Upgrade cost from Deluxe to Home & Business is about $40.00
- Upgrade cost from Premier to Home & Business is about $10.00
Is it worth upgrading?
While upgrading your TurboTax version is relatively easy to do, in most cases when you account for the software you already bought and the upgrade price, together it will likely cost you more that just getting the version you needed in the first place (especially if you used one of our many TurboTax discounts to make the purchase). You do have an option to return your TurboTax software within 60 days from the date purchased, even if you bought it at a third-party reseller. Here’s more info on how to request for a refund on your TurboTax software.
If you’re having difficulties or encountering issues, then we’ll do our best to help you out. Leave your questions in the comments section below. You can also find more details directly in TurboTax’s help forum.