If you need to file Schedules C-F you need the Premier version of TurboTax instead of Deluxe like last year. If you are using TurboTax and have bought the wrong version you can email intuit and they should upgrade you for free. You will have to demand it for free instead of a discount.
What are schedules C-F?
- Schedule C — business profit / loss. People who have some sort of small business on the side.
- Schedule D — capital gains / losses. I needed this for 2013 tax year because I made about ~$50 selling stocks; this is why I left TurboTax last year.
- Schedule E — rental income, royalties, etc. People who, e.g., rent out a room in their house.
- Schedule F — Farm profit and loss.
Basically, if you have some income that’s not from being someone else’s employee, you probably need one of these.