Turbotax: Current & Prior Year Return


 


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Q: Where can one download Turbotax current & Prior years return?

A: As shown in the video
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Relevant Material: ":TurboTax offers services to access and prepare prior-year returns, which is significant for data transfer, filing obligations, and audit preparedness. 
Significance of Prior-Year Tax Returns
Having access to prior-year tax returns is important for several reasons:
  • Identity Verification: The IRS (and CRA) often requires your Adjusted Gross Income (AGI) from the previous year to verify your identity when e-filing the current year's return.
  • Data Transfer: TurboTax can import information from a prior-year return, which saves time and reduces errors by pre-filling personal information, W-2, and 1099 details.
  • Filing Obligations: You may need to file back taxes to claim missed refunds or tax credits (generally within a three-year window), or to stop penalties and interest if you owed taxes.
  • Loan Applications & Benefits: Past returns serve as official income documentation for loan applications, Social Security, and Medicare benefits.
  • Audit Defense: The IRS has up to seven years to audit a return in some cases, so maintaining access to records for this period is crucial for defense. 
Accessing and Filing Prior-Year Returns with TurboTax
Accessing Past Returns
If you used the online version of TurboTax in previous years, you can generally access your returns by: 
  • Signing in to your TurboTax account using the same user ID as in previous years.
  • Navigating to the "Your tax returns & documents" section or "Documents" menu.
  • Selecting the desired tax year and downloading the return as a PDF. 
If you used the TurboTax Desktop software, the tax file (e.g., a .tax2024 file) is saved locally on the computer you used to prepare the return, not online. You must use that original computer or transfer the file to another system to access it. 
Filing Past Returns
TurboTax provides products for filing past years' taxes: 
  • Current Year Software: You cannot use the current year's software to file a prior year's return because tax laws and forms change annually.
  • Prior Year Products: You can purchase or access the specific prior year's TurboTax software (usually desktop versions for older years) through the TurboTax website.
  • E-filing vs. Mail: E-filing might be available for recent prior years, depending on government limitations (e.g., the CRA has specific e-file years supported). Older returns must typically be printed and mailed to the relevant tax authority (IRS or CRA)..." (Google) 
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