Intuit printed TurboTax Live at 53 percent of TurboTax on the 25 August 8-K. Desktop units were 4.1 million against 4.4 million. 332.7 is a share, not a filing date.
Intuit printed 332.7 on the 5 September scan, down 7.08 percent on the five-day window. None of that is a unit. None of it is a Live share. A five-day window is a print. It is not a 10-Q.
Service was 18,911 million and product and other was 2,537 million on the 25 August 8-K.
The 25 August 8-K, Exhibit 99.1, is already public. Year ended 31 July 2026. Total net revenue 21,448 million against 18,831 million. Service 18,911 million against 16,400 million. Product and other 2,537 million against 2,431 million. Global Business Solutions 12.9 billion, up 16 percent. Online Ecosystem 9.9 billion, up 19 percent. Consumer 8.6 billion, up 11 percent. TurboTax 5.3 billion, up 7 percent. TurboTax Live up 37 percent, named as 53 percent of TurboTax. Credit Karma 2.6 billion, up 20 percent. ProTax 647 million, up 4 percent. A boxed unit is 4.1 million boxes. A Live session is 53 percent of TurboTax. They are not one number. The 8-K does not print a Live dollar. Credit Karma at 2.6 billion and ProTax at 647 million are the dollars on the 8-K. Live is 53 percent of TurboTax, and the Live dollar stays off this file.
The same statements already print the calendar as an operating object. GAAP operating income ran 534 million, 855 million, 4,020 million, then 475 million. Full year 5,884 million. The quarter that contains the federal individual filing date, the 4,020 million, is the year. 332.7 is a share print. A red five-day leaves the filing quarter where the statements put it: 4,020 million inside a full year of 5,884 million.
Desktop is a season. Federal TurboTax desktop units 4.1 million against 4.4 million, down 7 percent. Online units 34.9 million against 35.5 million, down 2 percent. Total U.S. units 39.0 million against 39.9 million, down 2 percent. Units fell. Live still took more than half of TurboTax dollars. The 10-Q for the quarter ended 30 April 2026, filed 20 May, already split Consumer: service 4,998 million against 4,609 million, product and other 275 million against 296 million. That 10-Q says Consumer product and other is primarily TurboTax and ProTax desktop software and related form updates. Form updates are a season. They are not the clock. TurboTax itself printed 4,364 million in that April quarter against 153 million in the July quarter. The filing date is the duration object.
The franchise is a filing clock that renews. Live is already the TurboTax majority. Credit Karma printed 743 million in the July quarter against TurboTax 153 million in the same quarter. After the filing date, the Consumer print is a money and insurance session, not a boxed SKU. Global Business Solutions is a different clock: books, payroll, online services. A QuickBooks seat is Global Business Solutions: books, payroll, and online services. An April return is the 4,020 million filing quarter. A Live session is 53 percent of TurboTax. A desktop unit is 4.1 million boxes against 4.4 million. The April 10-Q said the consumer and professional tax businesses depend on customers who return each year. That sentence is the clock. A download that is bought once is the season.
Deferred revenue printed 1,072 million at 31 July 2026 against 1,019 million a year earlier. The April 10-Q said performance obligations are generally satisfied within twelve months. That is a return year. A bond coupon is the long bond. This 1,072 million is a season of prepaid form updates. The long-bond page on this catalog is a different duration. A prepaid form update is a season sitting in deferred. A customer who comes back in March is the clock that renews.
The printed fiscal 2027 range still has TurboTax at 5,377 to 5,453 million, 2 to 3 percent. Credit Karma 2,919 to 2,973 million, 11 to 13 percent. Global Business Solutions 13,068 to 13,158 million, 13 to 14 percent. A 2 percent TurboTax guide still leaves desktop as a season. It is the calendar still ringing, slower. It is also not a Live dollar.
The Services page already split a phone from a book. The workflow-graph page is a seat that already acts. The membership page is a warehouse that exists so a card renews. A tax login that returns is a calendar, not a till. The Costco card stays a membership fee.
332.7 is the share. TurboTax Live is 53 percent of TurboTax, and desktop units of 4.1 million against 4.4 million still leave Live as the majority. A unit can fall while Live stays the majority. That split is the clock.
The tax calendar is the duration. Desktop is a season. The franchise is a filing clock that renews.