On line taxes

For so long I can’t remember when I started...I would NEVER use an online version...too much potential for trouble.

If you go through the install and get to the part where they tell you how much, back out and see if they cut the price. They usually have a $10 or so coupon code active this time of year but doing this trick has knocked off another $5 for me.

I got audited once and had paid for the audit defense. They took care of hiring the accountant and only dealt with accountant. They did the audit and dealt with the IRS. I never had to deal directly with IRS agents and paid the little I made a mistake on.

take time, learn it and do it yourself.

I've been using TurboTax for so long that I made the transition from the DOS to the Windows version! Currently, I buy a CD. For the last couple of years, I've noticed that the price at both Amazon and Sam's Club is higher in early December than in January, so I wait.

My wife and I filed our federal tax return exactly two weeks ago today, and this morning our refund was sitting in our checking account. Considering that part of the two weeks the government was shut down, that's not too bad.

Phil

My Federal was accepted on the 25th, deposited the 4th.

I just finished my Fed & State with turbo tax and it should be here by the 28th of fed. Own the state

That state refund must be a whopper if you now own the state!

(Sorry, I tried to resist, but I just could not do so. )

- Tom -

And then there's this:
http://opentaxsolver.sourceforge.net/

Completely free. Supports MacOS, Windows and Linux.

You can do your federal return with this program and your state return too, IF your state is supported... only a few states are supported at the moment.

- Phil

LOL Would be nice to own the state

How about OWE the state

But if you own the state maybe you are now responsible for the state's debts!

If I owned the state there is a lot of changes I would make to their spending

I have been using TaxAct for the last several years. It has worked well for me.

I tried H&R Block software last year. It crashed on install. Nevrr again for H&R Block. They did refund my purchase.

Filed using turbo tax on Feb 3rd and have my refund back already.

I use TurboTax Premier.

I love how you can import your dividend and interest information from your financial institutions (e.g. banks) and TurboTax will automatically insert the 1099-D and 1099-INT information into your tax return with the Schedule B and all the pertinent information in the correct boxes.

What's even better is importing your brokerage firm's (e.g. TD Ameritrade, Fidelity, Wells Fargo Advisors, etc.) consolidated tax information (dividend, interest & stock trades, etc.) into your TurboTax federal tax return. I love that you don't have to itemize all the various brokerage-related income sources (stocks, CD's REITs, ETFs, etc.) by creating 1099-B, 1099-R and 8949 forms. When you import your consolidated tax information from your brokerage it's almost like pouring a container full of all your brokerage-related stuff into your TurboTax and it automatically ends up in all the right places and on all the right forms in your tax return. The IRS will check your tax return against the tax information your brokerage firm sends the IRS for correctness...and of course (because you imported the information directly into your TurboTax tax return straight from the brokerage firm) it matches perfectly.

It makes simple tax return filing really easy. And, it makes [what once used to be] a very complex and complicated tax preparation very simplistic...so simple that even a child could do it.

I don't need premier and somehow I got the "amazon only" download version for $34.99 (catch is a $10 amazon gift card you pay $44.99)

Last year I got what you did from Costco pretty sure $30. So indeed your price is good. And you could have gotten 2 cups at Wawa and maybe 1.5 at DD!

I started my taxes with the free version and when finished I filed both Fed & State for free. First time ever. Usually have to upgrade to Deluxe

Best Tax Software 2019

► https://www.nerdwallet.com/blog/taxes/best-tax-software/
► https://www.pcmag.com/article2/0,2817,1904319,00.asp
► https://www.thebalance.com/best-tax-software-programs-415420...
► https://www.thesimpledollar.com/best-tax-software/
► https://www.doughroller.net/taxes/best-tax-software-programs...
► https://www.toptenreviews.com/money/tax/best-online-tax-soft...

Tidbits:

In 2016 there were 31 million taxpayers that used TurboTax to file their federal tax returns while H&R Block had 23 million use their tax preparation software.

Interesting chart showing how different age groups file their federal taxes.
► https://cdn.gobankingrates.com/wp-content/uploads/2016/01/Ho...

I use turbo tax deluxe. Love it!!

I'm experiencing the opposite. I've been using Turbotax free for the past few years. This time, after entering all of my 1099-INT (I have multiple 1099-INT from different banks) and one 1099-DIV, it tells me that I can't file with the free version and I must upgrade to Deluxe. Not sure what the reason is. Perhaps my 1099-INT is too high? I accumulated approximately $500 more compared to tax year 2017. Been looking for an info on the interest limit but can't find any.

That extra $500 in taxable interest in 2018 (compared to 2017) probably tipped you over the threshold amount (exceeding $1,500 in taxable interest) in which you must prepare a Schedule B with the name of each payer and the amount of interest received. This threshold happens when the combined total of taxable interest reported on all 1099-INTs exceeds $1,500. So, when a Schedule B must be prepared the TurboTax free version cannot be used - the TurboTax Deluxe version must be used...

I hope that might explain the reason why you had to upgrade to the Deluxe version.

I use TurboTax Premier Online, which is wonderful for my needs.

I love doing my own taxes and actually look forward to it. For many years I personally paid taxes as a 'professional corporation' in the U.S. and six different states plus five foreign countries each year that required an accountant charging me $15,000 a year for his specialized expertise. Now that I no longer receive income as a PC I can file my tax return myself and I love it!

And it only costs me a scant $47.96 (taxes included) to e-file my federal tax return after applying a discount off the retail price from TD Ameritrade.

I see something about schedule B on Turbotax page when it asks me to upgrade to Deluxe. However, my 2017 taxable interest was way over 1500 too and Turbotax allows me to file free for both Federal and State. I don't have my taxes info right now but to the best of my knowledge I remember filing schedule B in 2017. I'm still puzzled by it.

Did you use the CD/Download version of TurboTax software in 2017, but TurboTax Online for your 2018 tax return?

Did you have itemized deductions related to medical, mortgages, charitable contributions or other expenses you can write off that you did not have in 2017?

Did you request access to any past years' filings?

Depending on what your tax situation was last year for 2017, you might [now] need to use new tax forms for 2018 that are not available in the free version to claim the same deductions, credits, or forms of income. Some of the situations that are in TurboTax Deluxe instead of the TurboTax Free Edition include:

Student loan interest deduction
Retirement savings contribution credit
Education credits
Child & dependent care credit

I hope one of the above may answer why you needed TurboTax Deluxe for your 2018 tax return.

Charles - Did you ever make a decision about trying an online tax preparation service?

Plan to use Turbo Tax on line, but haven't done them yet.Short form all I will need.The reviews look good on Turbo Tax.Plus good feedback here.Not to say the other tax programs posted wouldn't do just as well.

got my return back about a week ago, did my sons and have one more to do and I get a free dinner for doing it so the turbo tax ends up not costing me nothing now that's a good price !

Can't beat that price.

Thanks for your reply but none of the above applies to me.

Basically my tax filing does not change. I did exactly the same thing every year. Nothing has changed besides a few hundred bucks more in interest. I even make a little less (about $1000 less) on my W2 income (not sure why). My AGI (adjusted gross income) is roughly about the same but I can no longer use Turbotax Free for tax year 2018.

If I remember correctly, right after I'm done entering all 1099 INT and 1099 DIV is where Turbotax says I can't use the free version because of something related to new Schedule B form. There are no other details that explains how the Schedule B form is different in 2018. There is, however, an option to reject the offer to upgrade to Deluxe version and stay with the Free version. I did not try that option.

I understand that throughout the steps, Turbotax tries to upsell their product but we have the option to reject the offer. I have not filed it yet. Perhaps I should erase everything and start all over from the beginning but this time I will reject the upsell. I will see if I can file my taxes with the free version.

chewbacca - I don't know what could be triggering the need to upgrade to the Deluxe version. It would be interesting to find out. If you do clear and start over maybe you can determine what triggers the upgrade. If you find out, please let us know. The Q&A and link (below) may be helpful.

~~~~~~~~~~~~~~~~~~~~~~~

Q - Why am I being charged for TurboTax Free Edition?

A - Free Edition is for simple returns that file a 1040 with no additional schedules, and is free as long as you don't select any add-ons or upgrades.

Review your fees to find out why you're being charged. Then, follow the directions to remove any unwanted charge:

Remove PLUS Help & Tools
Remove pay-with-your-refund (Refund Processing)
Remove Premium Services Benefits
Remove MAX Defend & Restore
Remove a state
*Clear and start over to remove all fees and start from scratch.*

► https://ttlc.intuit.com/questions/1899480-why-am-i-being-cha...

I have used Turbo tax for the last 2 years and have not had a problem with it and saved me some money for prepairing the taxes also.

Thanks koot. I haven't had a chance to sign back in to Turbotax. I did a quick comparison of my 2017 and 2018 AGI. My AGI is about $800 less in 2018. I made more in 2017 but I was able to use the free version. Anyway, I'll post an update later.

It is also bases on what your total income is. If it is over a certain amount the you have to use Deluxe. Still better than paying someone 100.00 or more to do the same thing you can do

I understand that but my taxable income is less in 2018. I used the free version in 2016 and 2017 (possibly before 2016 too). Technically I should be able to use the 2018 free version unless Turbotax lower max total income to qualify for the free version.

the worst is how disingenuous some of those folks can be. Let's face it, what kind of "accountant" wants to get involved with ordinary people for a couple hundred $? My mom had a question regarding her return. The guy was on vacation. Fine. When she finally got a hold of him he was irritated she had questions on what he did lol

It was news to me a CPA who makes partner at a big 4 has an average annual compensation of about 900k. He's not going to be doing taxes for people.

Too often today unneeded services are being sold, and creating whole industries.

An equity partner in a big four accounting firm (e.g. KPMG, EY, PwC) will be dealing with corporate taxes and M&A related taxes issues, and doing business development for their firm. The top Big Law firms (K&E, Skadden, Sidley, Weil, etc.) that handle a lot of private equity and M&A deals will often hire top corporate tax partners with law degrees away from large accounting firms and compensate them as much as $5 million with a 7-digit signing bonus. Of course many equity partners in Big Law firms are compensated even more than that - especially 'rainmakers' that bring in multi-billion dollar deals, who are compensated well into 8-digits.

I don't know the details because I'm getting it from my Brother BUT it cost her $89 when she was done. My Brother told her she could have bought the CD for $40 like we did.

I can see how that can happen. A few years ago, I think I bought TT Deluxe and found that I needed Premier midway through my tax return. The P upgrade fee plus the D purchase were more than buying P outright. Since then, I've decided that if you find a discount on the CD or Download, buy the version you think you need (based on Intuit's suggestions) rather than risking buying 1-2 versions lower, then have to upgrade midway through doing your return.

One other thing about the $89 when she was done. At least for the disk and download versions, you get one free state software-wise and a free federal efile. A state efile is an additional fee with these products and additional states (not common, but it happened to me this year) are also extra.

I cleared everything last weekend and started over from the beginning. Unfortunately I still don't know what triggers the upgrade from Free to Deluxe. What I do know is that it happens right after I'm done entering all of my 1099 INT. Compared to 2017, I have 1 additional 1099 INT to file in 2018. That might have been the trigger but I don't know for sure.

It says something like this:

-----------------------
Based on your tax situation, you need to upgrade to TurboTax Deluxe

Your current product:
Free Edition
Does not cover the new Schedule B tax form

Required to claim this tax break:
Deluxe
Covers interest and dividends income which is reported on the new Schedule B tax form
-----------------------

So there is something in the 2018 Schedule B tax form that won't let me use the free edition. No idea what it is. I have e-filed both Federal and State. They're both accepted within minutes. I'm now waiting for the direct deposit (got a refund on both btw).

Use online for tax returns. Have been doing it past few years. In the past before that, I would DL a program and run on the PC but it's easier for me to just do it through a website. Haven't used Turbo Tax or HR Block for a long time though.

Interesting...and thanks for the update.

The information I'm finding indicates that a Schedule B triggers the need for the Deluxe version, which may be a change from previous years. And, I'm finding that more than $1,500 in interest income triggers the need for a Schedule B, so maybe there was a change in 2018 that requires you to need the Deluxe version. Or, maybe it's the number (quantity) of individual 1099-INTs that are entered (listed) in the tax return that triggers the Schedule B. I don't know - I'm just surmising.

For whatever it's worth (which isn't much because you've already filed your tax return), if you receive interest income for more than one account FROM THE SAME PAYER (e.g. from the same bank) you do not have to enter (list) each 1099-INT separately - they can be combined and entered (listed) as one totaled amount. The payer (e.g. your bank) reports to the IRS with a consolidated 1099 for you that combines (consolidates) your multiple accounts. Therefore, if you list 1099s from the same payer separately on your tax return the IRS checks your tax return to make sure that your separately listed 1099 amounts total (equal) the payer's consolidated amount they report to the IRS. I mention this only because that one additional 1099 entry you had for 2018 (versus one fewer in 2017) 'might' be what triggered the need for a Schedule B this year, which in-turn triggered the need to upgrade to the Deluxe version. Maybe we'll never know why!

That (in bold) is something I didn't know. I do have 1 bank with 2 1099 INT from 2 different accounts. I did think about entering both as one total amount but I did not actually do it. It's too late now that I've paid and filed them. I also realize there may be cheaper solution if I go down the Turbotax CD or downloaded software route. Oh well... Let them pocket the profit once in a while. I've used their Free version for several years.

Yes, these links (below) will confirm that interest income for more than one account FROM THE SAME PAYER can be combined and entered (listed) as one totaled amount.

► https://ttlc.intuit.com/questions/3858893-i-have-multiple-ac...

► https://ttlc.intuit.com/questions/3967853-where-how-do-i-ent...

► https://ttlc.intuit.com/questions/3925187-if-i-have-multiple...

Something else a lot of people don't realize is that the IRS doesn't need your individual account numbers for the various accounts (brokerage, savings, checking, etc.) that you receive 1099-DIV, 1099-INT, 1099-B, 1099-R income from. The IRS matches the SS number (or SS numbers if filing jointly) from what the payer provides the IRS. Listing your account numbers in TurboTax for your various accounts may help you keep things organized, but it is not necessary.

Congrats on filing your federal and state tax returns. Doing your own taxes and paying a rather small amount for TurboTax is far better than paying to have it done for you.

Thanks for links, koot. It's not cheap though. I ended up paying 30 bucks (Fed) and 40 bucks (State). That's $70 total. I just checked back a minute ago. Deluxe now costs 10 bucks more (for Federal filing). State costs the same.

I use the TurboTax Premier online version, which cost me $47.96 (taxes included) to e-file my federal tax return. I received a small discount off the retail price from TD Ameritrade. I don't file a state return since I live in Texas. That's a whole lot less costly than having a professional tax accountant do it...

There's no state income tax in Texas? I agree that is a lot less than having someone else do it for us.

That's right - no individual income tax in the great state of Texas. No state tax return needed.

There are 7 states that do not have individual income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Residents of New Hampshire and Tennessee do not pay taxes on their paycheck income, however they do pay tax on dividends and income from investments.

All of these posts about filing income tax returns is starting to make me feel guilty that I haven't filed yet. (And, I shouldn't feel guilty, at least not yet. However, as a recovering Catholic, it is hard to escape the guilt!)

What are these CDs that people keep referring to? I no long use a computer with a CD/DVD drive. And, when I did, I can't think of the last time I actually used a CD to install software!

Although, speaking of old school stuff, I am a radio hobbyist and a pair of Motorola DTR radios I own could have a firmware update. The DTR USB Firmware Flash Cable for it is $179.99! (I am not buying it, by the way.)

Then, once the firmware is updated, I could buy a separate cable for about $45 for the programming. It has uses the DB9/RS232 connectors. I haven't had a computer with that in years either.

So, instead I will see these and possibly replace them at a much lower price. It is ridiculous how some companies gouge people on the price of certain things.

Anyway, back to taxes. Does anybody know of any good discount codes for Turbo Tax right now? In the past, my credit union offered one, but this year I don't see it.

Have you tried Google Search to find any discounts?