12/24/2023 0 Comments Turbotax review cnet![]() TurboTax may be able to pull in your W-2 wage information from the company's payroll provider, as well as investment income details from Quicken, Quick Books, a long list of brokerages, and other apps that export to TXF formats (but not Microsoft Money). ![]() Importing your tax info from a brokerage, Quicken, and others saves tons of time.Īn oldie, but goodie, TurboTax's income-importing tools remain its best time-saving feature, and is almost reason alone to go with TurboTax 2008 over TaxCut. In many our case, the knowledge base answered our more common questions. Live, customized help is always the best, especially for outlier cases. You're shuttled online to log in or register before responding or adding your own inquiry. ![]() The real-time problems and solutions are relevant to each screen. It lets taxpayers help each other on personal questions not covered in TurboTax's Help menu. The Live Community peer support sidebar became available this year for all desktop versions. Based on your response, TurboTax may suggest skipping the itemized deduction calculations completely. Another new question whittles the interview further by letting you estimate your deductions before you would calculate them one by one. While TaxCut asks these questions as well, TurboTax's examples are more complete, for instance, pointing out the destructive Southern California wildfires in addition to havoc-wreaking Midwestern storms. Importing saves time and typing, and you can edit any outdated information from the previous year.Ī few new questions crop up in the guided interview through the 1040 form, including if you lost a house or a job, and if you survived a severe natural disaster. TaxCut, on the other hand, requires you to browse for non-TaxCut files. TurboTax can automatically import your previous year's return if you used TurboTax, TaxCut, TaxAct, or another tax file stored on your hard drive or a CD. TurboTax 2008 has a lot of good features, some old, others new. We're so over pop-ups it would be better if help topics expanded and collapsed when we click them. As in previous years, the help menu pops up information in a separate window. It features relevant tax questions posted in real time from TurboTax's "Live Community." As always, you can navigate TurboTax's well-organized tabs at any time, and search for specific forms and topics. A new sidebar also takes root on the right. This state return monitor joins an identical feature that adds up your federal dues. For instance, a small box at the top of the interface now tracks how much you owe on your state return. There are some noticeable changes to the interface design. TurboTax 2008 has added these events to an introductory question on your life changes in 2008. ![]() While it does include advanced tax forms for self-employment, rental property, stock sales, small business income and the child care credit, it doesn’t allow for foreign earned income, the health coverage tax credit or income from an estate or trust (Form K-1).Because of a shaky economy, more people will claim lost jobs and home foreclosures this year. TaxSlayer Simply Free doesn’t allow taxable income over $100,000.Įven Cash App Taxes, which earns CNET’s award for Best Free Tax Software, doesn’t cover absolutely all tax situations. ![]() H&R Block’s Free Online adds a few more forms like Schedules 1 and 3, but you’ll still need to take the standard deduction. For example, TurboTax’s Basic plan only allows simple tax returns with 1040 forms - no unemployment income, stock sales or any itemized deductions like mortgage interest. FreeTaxUSA’s basic plan is free for federal and $15 for unlimited state returns, whereas TaxAct’s free plan requires $40 per state tax return.īe careful to check for restrictions before you start the process of using free tax software at any of the providers. TurboTax, H&R Block, TaxSlayer and Cash App Taxes all provide free tax-filing services that include one federal tax return and one state tax return. However, some of those free options only include your federal tax return - you’ll occasionally need to pay extra to file state tax returns. Almost all of CNET”s best tax software selections for 2022 include free options for simple tax returns. ![]()
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