When you complete your return on TurboTax, it will generate two tax files, a program file and a PDF file. The program file will only work with the current year TurboTax program, but it can be used to transfer data to next year's program. Note that you cannot use next year's TurboTax program to prepare an amended return for this year. So, if you need to amend the return, which can be done for 3 years, you need to keep all TurboTax programs on your computer, or on the CD disc that came with the software.
The PDF file can be used to print out a paper copy of your filed return. I have 10 years of PDF tax files stored on the cloud with a Google Drive. So, I can print out any tax return from any device connected to the Internet.
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