Do you want to know how to downgrade Turbo Tax? Downgrading Turbo Tax simply means taking a lower price program. Technically the only reason a person would choose to down grade would be to save money. Although it is possible to downgrade Turbo Tax, it does come with some problems that may not be understood in the beginning.
Turbo Tax is the number one selling software for tax preparation and they are one of the most expensive also. For this reason some taxpayers might be tempted to downgrade Turbo Tax and save some money. Compared to H&R Block and Tax Act, Turbo Tax is more expensive, but they have many benefits also. Turbo Tax has a very good sales pitch called, "Try before you buy."
This incentive may cause taxpayers to try a more expensive program hoping for a huge refund and then come to realize that a cheaper program would reap the same tax refund. You can upgrade with Turbo Tax and there is no problem, but if you want to downgrade Turbo Tax there are a few things you should be aware of. Here are the steps to downgrade Turbo Tax:
- Cancel your account with Turbo Tax. The first step that you must do in order to downgrade Turbo Tax is cancel your original account with Turbo Tax. This is very simple to do if you find that you do not want to pay the extra money for the program you are working on. If you want to go from a Home and Office Program to their Premier program, you must cancel your account with Turbo Tax first.
- Open a new account with Turbo Tax. At the home page of Turbo Tax, sign in as a brand new member in order to start the process to downgrade Turbo Tax. Select a new user name and password and wait to have Turbo Tax accept your new sign in.
- Select and Start a New Turbo Tax Program. Since your desire is to downgrade Turbo Tax, select a lower price program that will suit your budget or you may even select the free program at this point. You will need to input all your information again, such as name, address, social security number, income and deductions. It will be as if you never had filed a return ever before with Turbo Tax.
Keep in mind that you can downgrade Turbo Tax, but by choosing to downgrade Turbo Tax you will lose all prior years information. This is one reason many are not happy with the downgrade option with Turbo Tax. Saving money is great, but the fact that last year's taxes and all prior year's taxes are gone is a big negative when downgrading Turbo Tax. Should you decide to upgrade using Turbo Tax all prior years information is transferred. Once you have decided to upgrade to a higher price program with Turbo Tax, you can not downgrade.