Tax software (USA)

[Howard Kaikow]

Recommended tax software?

Good price for TurboTax at Costco, but does not include personal tax help.

This is not for me, it's for someone who ...!

[Dave49]

Turbotax provides for personal help for a premium of about $40. Tax Cut from H&R Block advertises one-on-one help, but I don't know if they charge for it. Maybe a tax accountant is the way to go. The expense is deductable next year.

~Dave

[Aaron Here]

As an accountant I would say that if a person's income and expense situation is perceived to be complex (e.g., running one's own business), I would advise that person to defer to a professional tax preparer. With that said, of the popular income tax software I consider TurboTax the best.

[Cloudcroft]

I've tried a lot of them over the years, and I think TurboTax is the best.

[InfinityAz]

Going to agree with previous posts, TurboTax is the best (especially for finding deductions and maximum amount deductible for donations).

[Howard Kaikow]

{QUOTE-> As an accountant I would say that if a person's income and expense situation is perceived to be complex (e.g., running one's own business), I would advise that person to defer to a professional tax preparer. With that said, of the popular income tax software I consider TurboTax the best. <-QUOTE}

The issue is not the complexity.
I was hoping that the prompting of tax software might help, tho I have my doubts.

The main issue is to fill out form 8606, not sure how helpful tax software would be for this.

This is needed for a partial recharacterization (of a non-deductible contribution) from an IRA to a Roth.

[prius04]

I've used TurboTax somewhat extensively and it is quite capable of covering most all circumstances and anomalous issues with respect to individual returns (less so for the likes of corporate entities and trusts where it's just okay, IMHO).

But I also made a non-deductible contribution to an IRA and TurboTax handled that issue easily. I did **not** transfer or recharacterize any of the non-deductible amount to a Roth (I merely reversed it) but I did note that the TurboTax "interview" contained a section to input any amount transferred to a Roth. FWIW.....

[Howard Kaikow]

{QUOTE-> I've used TurboTax somewhat extensively and it is quite capable of covering most all circumstances and anomalous issues with respect to individual returns (less so for the likes of corporate entities and trusts where it's just okay, IMHO).

But I also made a non-deductible contribution to an IRA and TurboTax handled that issue easily. I did **not** transfer or recharacterize any of the non-deductible amount to a Roth (I merely reversed it) but I did note that the TurboTax "interview" contained a section to input any amount transferred to a Roth. FWIW..... <-QUOTE}

Thanx.

[mercurie]

Tax laws change regularly, quickly and sometimes at the last minute. Do these programs have update features?

Do you have to buy a new package every year? :-\

I use a preparer...that means a live human...;D

[Woody777]

We have used TurboTax for the last few years with good success. We just go to their Website & use the online application with good success. Yes it uses encrypted cpmmections.

[prius04]

{QUOTE-> ...Do these programs have update features?.......Do you have to buy a new package every year? <-QUOTE}
Yes and yes. ;D

The consumer products are continually updated. Frankly, I'd never file a return, regardless of which product I happened to be using, anytime before late March.

Subscriptions are available but they're really just more like reminders; I don't recall TurboTax, for example, offering any kind of substantial discount for subscribing or paying in advance.

For those who do their returns online and e-file, and whose returns aren't all that complex, TaxACT is FREE for a federal return and then $13.95 for one state return (including e-filing the state return).

[Hugger]

I'm not the brightest star in the sky but I can still work my way through Turbo Tax, which if I remember correctly is owned and published by Intuit.
It works well for me.
Regards.
Hugger

[ccsito]

{QUOTE->
I use a preparer...that means a live human...;D <-QUOTE}

Remember that ultimately you are responsible for the entries on the return. Doesn't matter if the accountant or tax software made a boo-boo, if you signed it, you made the error. ;) ::) :wacko:

BTW, I don't use the PC to do my taxes. Don't want any hacker or potential "hacking" program to review my tax information.