Which Turbo Tax?

Status
Not open for further replies.
C

chiefsfan1

Joined
Sep 27, 2014
Messages
1,152
Location
Missouri
Its that time of year again. I usually go to my sisters but she is busy the next two weeks. I have everything I need now. Or I am impatient, LOL!

The question is do I get the CD or download it from Intuit? Then there is the option of doing it online and storing it on the cloud on their servers.
Kind of not ready to store that info there.....

I can't itemize, not enough to exceed the standard deduction. The only thing is my Edward Jones mutual fund.
It looks like the Deluxe is what I need. Just have ordinary dividends, and capital gains.
 
I have used online Taxact and been very happy with it. Just logged in today and since it is online they pull all my info from last year already. Makes it clean and simple.

I have used a CD version in the past but if you don't use that computer or it dies then you lose all that history.
 
I prefer the HR Block program over TurboTax but both are good. I did not like TaxAct.

Typically the differences between the levels of TurboTax and HR Block are whether you want it to do state and whether you want to e-file both.

There are several products that allow you to do free e-file of federal.

You can file a 1040-EZ I believe.

I personally think its absurd that with your relatively simple tax situation that you cannot just go to the IRS website, plug in a few numbers and get a refund in a couple of days. You should not need to send any money filing your taxes.
 
I have been using taxact for a while. I get the basic option its like 20$ I think. No need to go to a professional when the website essentially does it for you
 
I've always used TurboTax online and I like it, but this year my tax situation is very different. If I get audited, do the online DIY places offer any sort of protection?
 
Last edited:
A 1040 and schedule B, D, and form 8949 and you're done. The inputs for the Sch D/8949 come right from your broker/401K. Yes, it might take you an hour or two the first time you do it by yourself (add 1-2 hours if itemizing). But, every year that follows will be the same filing where you can do it in 1-2 hrs and save any Turbo tax/broker fees.

If one is reporting all their income and all their deductions properly, there is no risk of an audit, whether you DIY or not. If you give deliberately bogus or bad info to H&R Block or Turbo Tax they aren't going to cover you on an audit. It's when you have a business, self-employment, trusts, difficult investment strategy, rentals, and other such things where professional help would be helpful.
 
I'm a private contractor overseas but this has been my first year where I have met the 330 day physical presence test and a large amount of my income is tax-exempt.

I'm afraid that my different tax situation is going to open me up to an audit.

Ever if I get audited I have all the paperwork to back up my claim, but I would prefer to not have to deal with another audit.

I was audited before for my 18 month deployment in the US Army. Tax exempt by default and they audited me 5 years later after my ETS. Had to dig up old deployment orders. Simple resolution for that one, but still nerve wracking.
 
Last edited:
I just finished my taxes this afternoon. I used the H & R Block online software. I've been using either Turbotax or Block online versions for 10+ years.

If you do decide to do Turbotax, google "turbotax fidelity discount" You don't have to have a Fidelity account, but it has historically given the biggest discount for Turbo tax.

TurboTax had some difficulties last year:

Turbo Tax Problems 2014

More problems


So I went with H & R Block online last year and stayed with them this year. But quite honestly either product is very good and both are user friendly. Good luck.
 
Last edited:
I have used turbotax online for several years now. there is almost always a 30% or more discount with a little bit of google searching.
 
Originally Posted By: rooflessVW
I'm a private contractor overseas but this has been my first year where I have met the 330 day physical presence test and a large amount of my income is tax-exempt.

I'm afraid that my different tax situation is going to open me up to an audit.

Ever if I get audited I have all the paperwork to back up my claim, but I would prefer to not have to deal with another audit.

I was audited before for my 18 month deployment in the US Army. Tax exempt by default and they audited me 5 years later after my ETS. Had to dig up old deployment orders. Simple resolution for that one, but still nerve wracking.



Google "ways to reduce IRS audits." There are some simple steps you can take. See the link below as an example. Pushing out the time frame certainly makes sense. Some people that can't get all the details together by the April deadline can get an extension to October 15th...though estimated taxes are still due by the April deadline. I don't think your change in filing status will be that much of a flag.

Some steps mentioned here

Another link
 
Originally Posted By: rooflessVW
I've always used TurboTax online and I like it, but this year my tax situation is very different. If I get audited, do the online DIY places offer any sort of protection?


My wife and I did our taxes today with Tax Act Basic Edition. Near the end of the process it offered audit protection and representation, it cost an extra $30.00 or $40.00. Our basic 1040 Federal return was only $9.99. We have been using Tax Act for several years now, and I used it when I was single and have always been very happy with it.
 
5 years with TaxAct, I don't pay ANYTHING for their software, unlike you guys, and I do 6 other people's taxes, its not rocket science, and there is no cost other then someone people needing state taxes.

just download the pdf in the end, you don't need to back it up on their server and pay them a fee...

I even do a private contractor's taxes on taxact, an hour max...
 
Thanks for the tips! Yeah, the IRS site should allow one to input the numbers instead of sending you to a third party.
 
Just did my Taxes with TaxAct thanks to this thread.

It was easy, and Obamacare should be repealed!!!!!
 
Status
Not open for further replies.

Similar threads

Brons2
School me on foreign property ownership, from a USA perspective
Replies
13
Views
2K
cptbarkey
StevieC
  • Locked
80 Million US Household - Data Breach
2
Replies
21
Views
2K
philipp10
dja4260
  • Locked
Tax question regarding selling stock
2
Replies
32
Views
3K
dja4260
john_pifer
New Shotgun Day - Mossberg 590A1 Retrograde!
3 4 5
Replies
84
Views
18K
burbguy82
V
  • Locked
Long Term Capital Gain Tax Rate?
Replies
12
Views
5K
threeputtpar
Back
Top Bottom