TurboTax Online
What is TurboTax Basic
This edition is ideal for individuals with straightforward tax situations, such as those who have W-2 income, take the standard deduction, and have no significant investments or property. It is for simple returns only.
How Many Levels of PII Verification
2
Where will you get permission to transfer calls or ask collogues for help
How many different type of taxes were you taught about in the modules?
4
What are the different 1040 Forms
1040
1040-SR
1040-NR
What are the 3 Levels to TurboTax Online?
Do It Yourself
Live Assisted
Live Full Service
When do you Level 1 Verify
Every call
Engagement Pop
What is Income Tax
State and federal governments tax most individuals’ income.
This is highly variable depending on amount, source, and final use of the income.
What are the different 1099 Forms
Form 1099-NEC
Form 1099-MISC
Form 1099-INT
What is TurboTax Deluxe
Deductions and credits. This edition is ideal for taxpayers with itemized deductions, such as mortgage interest, charitable donations, and medical expenses.
What can be used a Level 1 PII
Full Name. Email. Phone Number
Who shows up in EFE
ONLY customer's that's filed with TurboTax before.
What is Property Tax
Levied on land and property assets.
Can vary based on the valuation of the property and its intended purpose.
What is 1040-SR
Identical to Form 1040 but is meant for senior taxpayers and is printed using a larger font.
What is TurboTax Premium
Investments, side jobs, or small businesses. It’s designed for taxpayers who have to report income from stock sales, dividends, and rental properties, as well as those who are self-employed or run a single-member LLC.
What can be used as Level 2 PII
Full Name
Last 4 SSN
Birth Year
Zip Code
Where to find Refund Advance Status
Global EFE
What is Sales Tax
Different taxing entities add a tax on purchases.
Certain products, like cigarettes, tires, and oil, tend to be taxed higher in order to limit use or pay for infrastructure.
What is 1099-NEC
To report money they paid to independent contractors, freelancers, and other non-employees during the tax year
What is TurboTax Business
Multi-member LLCs, partnerships, and S-corporations. It caters to the needs of small business owners who must file business tax returns (Forms 1065, 1120S, etc.), manage payroll, and handle employee benefits.
Where can you confirm PII Level 2
Global EFE
Where to find Refund Amount
Webserve/TPG Salesforce
What is Corporate Tax
Profits made by a corporation are taxed by federal, and often state, governments.
If an individual is an owner of a corporation, they may have to ensure taxes are paid for by their company.
Out of the forms discussed, which form IS NOT supported by TurboTax
1040-NR
Non-US citizens who don't hold green cards. It is several pages longer than the other 1040 form versions.
TurboTax does NOT support this form, but it is covered by TurboTax partner Sprintax (taxprep.sprintax.com).