TurboTax?

Megan · 01-16-2008, 06:10 AM

I've been looking at various programs to help me do my taxes, and I'm seriously considering purchasing TurboTax this year. I've never used one of these programs before, but this year, with working in multiple states and with some additional deductions for a move, I've decided that it's probably the best plan.

Does anyone have any comments, good or bad, about TurboTax? Also, I'm trying to decide which version I need, between Deluxe or Premier. I do have investments, but I didn't sell any of them this year - I only have dividend income. That leads me to think I may only need Deluxe, but I'm just not sure.

I'm assuming since I need to file in two states, I will likely need to purchase a second state add-on or just file that without doing it through TurboTax, which is also a possibility.

Any and all help is greatly appreciated.

Zarathstra · 01-16-2008, 08:32 AM

Megan, I used Turbotax last year and I really liked it. I had to file in two states as well, so it was really nice to have a program to guide me through the process. Plus I'm pretty sure it got me more money in deductions than I spent on the program, so that was a plus.

As for what edition, I'm pretty sure you could get by with deluxe. Premier seems to be for people with tons of income from investments. Since mine are limited to my savings account and my 401k (which isn't taxed anyway) I'll be using deluxe this year.

bluecobia · 01-16-2008, 10:52 AM

i have used turbo tax for 5-6 years and have had no problems with it.
I especially like the its deductable.
We give a lot of clothing and household goods to charity and the it's deductable makes validating value much easier and the IRS has never questioned it.

Megan · 01-16-2008, 12:39 PM

Thanks for the advice. I think I will order a copy. I keep hearing great things. Sure, it's not exactly cheap, but for the peace of mind that I've done my taxes right, it's worth it.

rstlne · 01-16-2008, 02:25 PM

I've been using TaxCut since the late 90s because it's cheaper than TurboTax, although TaxCut is itself not the cheapest tax prep software. I do most of the recordkeeping and some of the calculations myself anyway and just needed something simple to help fill in the forms.

The Honest Dollar · 01-16-2008, 07:25 PM

I've used TaxAct for the last 2 years. It's $15, but you may be able to get it for free through the IRS website. It's also offering free e-filing this year. TaxAct was perfectly fine for me: I had dividend income, interest income, capital gains, and income from multiple jobs. I got a sizeable refund last year because my employer couldn't adjust my withholding quickly enough. I don't know if I could have gotten a bigger refund with another software, but I'm pretty satisfied. It's a cheap alternative to the big name tax softwares, and it's usually recognized as #3 in the field (after TurboTax and TaxCut).

KristenKP · 01-28-2008, 03:30 AM

I used to use TurboTax for years, then switched off to an accountant for a few years, and now am back using TurboTax. I actually like TurboTax better because it explains things more thoroughly and I feel more in control of what I am doing. (Also, much cheaper than a CPA.) I think the Deluxe would be sufficient for your needs, and IIRC you can do more than one state with the state program.

gt0163c · 01-28-2008, 07:08 AM

I've used TurboTax for a couple of years (did it by hand before that) and find that it's easy to use and explains things well. It was especially helpful in the years when I had to file state income tax for states I was not a resident of. Although, it was difficult to find the version with the state included, living in Texas where we don't have state income tax.

Lisa23 · 03-04-2008, 04:47 PM

I've used TurboTax for three years running and it has worked very well for me. I use the version right off of their website. A nice feature is that you don't have to finish it in one sitting. If you get interrupted, or need to locate a piece of information, it allows you to save it and come back.

Lisa
Greener Pastures: Personal Finance on a Responsible Planet

amyschiff · 03-04-2008, 05:06 PM

Turbotax is offering free IRS e-file for people who match certain income criteria (i.e. under some amount per year). Additionally, Turbotax is a free e-file partner for some states including MI. Since I didn't have a whole lot of deductions and my income was really low, I got away with filing my taxes completely for free this year.

I really liked the TurboTax online tax prep. They really did a good job of explaining things, and did the work populating forms with info that you supplied.

01-16-2008, 06:10 AM	#1
Megan Senior Member Join Date: Dec 2007 Posts: 306 Reputation: (63)	TurboTax? I've been looking at various programs to help me do my taxes, and I'm seriously considering purchasing TurboTax this year. I've never used one of these programs before, but this year, with working in multiple states and with some additional deductions for a move, I've decided that it's probably the best plan. Does anyone have any comments, good or bad, about TurboTax? Also, I'm trying to decide which version I need, between Deluxe or Premier. I do have investments, but I didn't sell any of them this year - I only have dividend income. That leads me to think I may only need Deluxe, but I'm just not sure. I'm assuming since I need to file in two states, I will likely need to purchase a second state add-on or just file that without doing it through TurboTax, which is also a possibility. Any and all help is greatly appreciated. __________________ Counting My Pennies

01-16-2008, 12:39 PM	#4
Megan Senior Member Join Date: Dec 2007 Posts: 306 Reputation: (63)	Thanks for the advice. I think I will order a copy. I keep hearing great things. Sure, it's not exactly cheap, but for the peace of mind that I've done my taxes right, it's worth it. __________________ Counting My Pennies

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01-16-2008, 08:32 AM	#2
Zarathstra Junior Member Join Date: Jan 2008 Location: Atlanta, GA Posts: 3 Reputation: (10)	Megan, I used Turbotax last year and I really liked it. I had to file in two states as well, so it was really nice to have a program to guide me through the process. Plus I'm pretty sure it got me more money in deductions than I spent on the program, so that was a plus. As for what edition, I'm pretty sure you could get by with deluxe. Premier seems to be for people with tons of income from investments. Since mine are limited to my savings account and my 401k (which isn't taxed anyway) I'll be using deluxe this year.

01-16-2008, 10:52 AM	#3
bluecobia Junior Member Join Date: Jan 2008 Posts: 21 Reputation: (10)	turbo tax i have used turbo tax for 5-6 years and have had no problems with it. I especially like the its deductable. We give a lot of clothing and household goods to charity and the it's deductable makes validating value much easier and the IRS has never questioned it.

01-16-2008, 02:25 PM	#5
rstlne Senior Member Join Date: Jan 2008 Location: New Jersey Posts: 364 Reputation: (115)	I've been using TaxCut since the late 90s because it's cheaper than TurboTax, although TaxCut is itself not the cheapest tax prep software. I do most of the recordkeeping and some of the calculations myself anyway and just needed something simple to help fill in the forms.

01-16-2008, 07:25 PM	#6
The Honest Dollar Member Join Date: Dec 2007 Location: New York Posts: 90 Reputation: (63)	I've used TaxAct for the last 2 years. It's $15, but you may be able to get it for free through the IRS website. It's also offering free e-filing this year. TaxAct was perfectly fine for me: I had dividend income, interest income, capital gains, and income from multiple jobs. I got a sizeable refund last year because my employer couldn't adjust my withholding quickly enough. I don't know if I could have gotten a bigger refund with another software, but I'm pretty satisfied. It's a cheap alternative to the big name tax softwares, and it's usually recognized as #3 in the field (after TurboTax and TaxCut).

01-28-2008, 03:30 AM	#7
KristenKP Junior Member Join Date: Jan 2008 Posts: 4 Reputation: (10)	I used to use TurboTax for years, then switched off to an accountant for a few years, and now am back using TurboTax. I actually like TurboTax better because it explains things more thoroughly and I feel more in control of what I am doing. (Also, much cheaper than a CPA.) I think the Deluxe would be sufficient for your needs, and IIRC you can do more than one state with the state program.

01-28-2008, 07:08 AM	#8
gt0163c Senior Member Join Date: Jan 2008 Location: Texas Posts: 217 Reputation: (33)	I've used TurboTax for a couple of years (did it by hand before that) and find that it's easy to use and explains things well. It was especially helpful in the years when I had to file state income tax for states I was not a resident of. Although, it was difficult to find the version with the state included, living in Texas where we don't have state income tax.

03-04-2008, 04:47 PM	#9
Lisa23 Senior Member Join Date: Feb 2008 Location: Massachusetts, USA Posts: 104 Reputation: (13)	I've used TurboTax for three years running and it has worked very well for me. I use the version right off of their website. A nice feature is that you don't have to finish it in one sitting. If you get interrupted, or need to locate a piece of information, it allows you to save it and come back. Lisa Greener Pastures: Personal Finance on a Responsible Planet

03-04-2008, 05:06 PM	#10
amyschiff Senior Member Join Date: Feb 2008 Location: Lansing, MI Posts: 278 Reputation: (38)	Turbotax is offering free IRS e-file for people who match certain income criteria (i.e. under some amount per year). Additionally, Turbotax is a free e-file partner for some states including MI. Since I didn't have a whole lot of deductions and my income was really low, I got away with filing my taxes completely for free this year. I really liked the TurboTax online tax prep. They really did a good job of explaining things, and did the work populating forms with info that you supplied.