I thought Time Machine backed up Apps? No?

I backup my MacBook onto a Time Capsule. I am trying to retrieve a particular application (Turbotax) from a backup from 6 months ago. When I enter Time Machine though, in the finder window "Applications" is greyed out. I can see documents and other files from the backup date I'm looking at, but no way to drill down on the Apps I had at that time. Can anyone help? Thanks.