by ram » Sat Jan 11, 2014 5:50 pm
Till last year as a
family we have filed only a single tax return - married filing jointly. For the
last many yrs we have used turbotax online option and are satisfied with it.
For 2013 for the first time in their lives our 21 and 19 yr old children earned
about $1500 and 3000. This income was from tutoring and babysitting and they
will be filing taxes for the first time. They do not have investment income.
One will get a W2 from Kaplan University and the younger one may get one from
another online tutoring service.
My question is whether I should go for the online version(one return) or the desktop download with which up to 5 returns can be done.
If I go with the online version I will get free federal premier, free state basic and free E filing for federal and state. (flagship freebies). The children will have to pay for their tax preparation. ( Or ??? could get free versions because of their low incomes or can opt for paper returns).
The other option would be the desktop download. In that case premier would be $10 and free deluxe and state E filings would be $20 x 3. The kids state filing could be on paper.
Have never done download before. Is it any extra work. (I wold prefer to spend $50 rather than do 1 hr of extra tax work)
I believe I will need the premier ( at least for online) as I have capital gains and dividend to report. Thanks for the advice.
My question is whether I should go for the online version(one return) or the desktop download with which up to 5 returns can be done.
If I go with the online version I will get free federal premier, free state basic and free E filing for federal and state. (flagship freebies). The children will have to pay for their tax preparation. ( Or ??? could get free versions because of their low incomes or can opt for paper returns).
The other option would be the desktop download. In that case premier would be $10 and free deluxe and state E filings would be $20 x 3. The kids state filing could be on paper.
Have never done download before. Is it any extra work. (I wold prefer to spend $50 rather than do 1 hr of extra tax work)
I believe I will need the premier ( at least for online) as I have capital gains and dividend to report. Thanks for the advice.
Ram
by sscritic » Sat Jan 11, 2014 5:59 pm
If your children want
to file for free, they can use Free File (note the name).
http://www.irs.gov/uac/Free-File:-Do-Yo ... s-for-Free
http://www.irs.gov/uac/Free-File:-Do-Yo ... s-for-Free
Use Free File Tax
Software.
This program is available if your AGI is $57,000 or less:
This program is available if your AGI is $57,000 or less:
They are at a good age to learn how to do their own tax returns, with a little help from you.
As for state returns, it will depend on the software company and your state.
May I also file my
state return for free?
Some participating Free File Alliance companies offer free state tax return preparation and e-file. Check the company's Free File home page to learn if free state income tax return prep and e-file services are available for you.
Some participating Free File Alliance companies offer free state tax return preparation and e-file. Check the company's Free File home page to learn if free state income tax return prep and e-file services are available for you.
P.S. You have to wait a few days:
Come back Jan. 17
by HueyLD » Sat Jan 11, 2014 6:06 pm
Downloading TT from
Vanguard link is very easy. It takes a few minutes of computer time.
You can download the TT Deluxe version that will allow you to e-file up to five federal returns and mail in as many state returns (for the same state) as you so desire. Keep in mind that the downloaded Deluxe version will allow you to prepare schedule D and related forms.
You can download the TT Deluxe version that will allow you to e-file up to five federal returns and mail in as many state returns (for the same state) as you so desire. Keep in mind that the downloaded Deluxe version will allow you to prepare schedule D and related forms.
by sscritic » Sat Jan 11, 2014 6:12 pm
ram wrote:Have never done download before. Is it any
extra work. (I wold prefer to spend $50 rather than do 1 hr of extra tax work)
If you are still using dial-up, it might take an hour, but I doubt it. In any case, just start the download, go grab a brew, watch the game, and come back after an hour. A one hour download takes less than 5 minutes of your time.
P.S. If you still are using dial-up, you should consider getting something a little faster for your internet.
P.P.S. Or was your question about whether you can answer questions on the internet faster than you can answer questions on your own computer. I don't think there should be a big difference in the time it takes you to answer questions.
by ram » Sat Jan 11, 2014 6:18 pm
sscritic wrote:
ram wrote:Have never done download before. Is it any
extra work. (I wold prefer to spend $50 rather than do 1 hr of extra tax work)
If you are still using dial-up, it might take an hour, but I doubt it. In any case, just start the download, go grab a brew, watch the game, and come back after an hour. A one hour download takes less than 5 minutes of your time.
P.S. If you still are using dial-up, you should consider getting something a little faster for your internet.
P.P.S. Or was your question about whether you can answer questions on the internet faster than you can answer questions on your own computer. I don't think there should be a big difference in the time it takes you to answer questions.
I do have a fast internet connection. My concern was related to the download version being more cumbersome in any way than the online version. Thx.
Ram
by HueyLD » Sat Jan 11, 2014 6:19 pm
IIRC, in lieu of
downloading, you can also order a CD from Intuit, compliment of Vanguard.
I think the desktop version (download or CD) is easier to use than the online version. YMMV.
I think the desktop version (download or CD) is easier to use than the online version. YMMV.
by sscritic » Sat Jan 11, 2014 6:22 pm
ram wrote:My concern was related to the download version
being more cumbersome in any way than the online version. Thx.
I like having a spreadsheet program, a word-processing program, a music player program, and a tax program (and most every other type of program I use) on my own computer. Others like to keep everything in the cloud or on some company's computer. I don't, so I have never used on on-line tax program, so I can't tell you if it would be harder or easier than what I use.
by ram » Sat Jan 11, 2014 6:39 pm
HueyLD wrote:IIRC, in lieu of downloading, you can also
order a CD from Intuit, compliment of Vanguard.
I think the desktop version (download or CD) is easier to use than the online version. YMMV.
I think the desktop version (download or CD) is easier to use than the online version. YMMV.
Thanks Huey. That sounds reassuring. I am not a very technologically savvy guy and doing taxes is always somewhat anxiety provoking. And therefore the resistance to deviate from what I know and have been doing for the last 7-8 yrs.
Ram
by Kuckie » Sat Jan 11, 2014 7:11 pm
The download version
of Turbo Tax allows switching between Forms Mode for rapid completion and
review of IRS forms, as well as the default Step by Step question and answer
mode. The online version only allows Step by Step question and answer
completion.
All download versions include all forms. Online versions do not, and must be upgraded to obtain additional forms (IE: Premier for Investments).
All download versions include all forms. Online versions do not, and must be upgraded to obtain additional forms (IE: Premier for Investments).
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