Thursday, January 8, 2015

Which tax software? (ex-TurboTax user)

Posted on 5:02 PM by Unknown
Over at Reddit we came across the following discussion: 
Which tax software? (ex-TurboTax user) (self.personalfinance)
submitted by modrosso
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[–]PresNixon 19 points  
Mods: We've seen a lot of these questions, and we'll keep seeing more. Also, I must admit even I would love to see a comprehensive list of available tax filing options.
Is it possible we could create one mega-thread and link to it on the sidebar or something?
[–]TheEarthIsFalling 7 points  
That's a great idea, also the IRS lets you file for free if you make under 60k a year.
A comprehensive list of resources and experiences with products would be nice. Haven't used "Free File" myself, but I might look into it.
[–]all_the_devils 2 points  
Is $60k cap for single persons only or for married persons too?
[–]TheEarthIsFalling 3 points  
If you are filing using the Married Filing Jointly filing status, the $57,000 AGI limitation applies to the AGI for both of you combined. This AGI will appear on your return.
Source: http://www.irs.gov/uac/Definition-of-Adjusted-Gross-Income
I took a look around the website for you. Even typed up an apology for not knowing the answer, but sure enough there it is. Sorry, bud.
[–]atrain728 1 point  
I suppose for those that are Married Filing Separately, then, each party has their own AGI? Looks that way.
[–]all_the_devils 1 point  
Why does the first link say $60k and the second link says $57k?
[–]zoninationFAQ/Wiki Contributor[M] 11 points  
This is the first one I've seen all year, but repeat posts may be removed at moderator discretion, and referred to a previous discussion. I'll bring it up with the team if we should do a megathread a couple weeks before people start receiving their W-2s.
[–]PresNixon 8 points  
Awesome. Also, regardless of what you guys decide, thanks for all that you do here.
[–]zoninationFAQ/Wiki Contributor[M] 2 points  
The team seems to be in support of a megathread. Scheduled one for Friday via AutoMod.
[–]Frankthebank22 3 points  
I think there was one a couple days ago.
http://www.reddit.com/r/personalfinance/comments/2rei95/turbo_tax_vs_hr_block_software/
[–]zoninationFAQ/Wiki Contributor[M] 3 points  
It didn't get very popular, which is probably why it slipped under my radar.
We'll let OP get his answers for now, and do a megathread later today or Friday.
[–]zoninationFAQ/Wiki Contributor 13 points  
Often recommended here are TaxAct and TaxSlayer as alternative options to TurboTax.
[–]BMP1199 4 points  
Do either of these import old TurboTax files from previous years?
[–]iRobbedYungBerg 6 points  
You for sure can with taxact. I can't image taxeslayer or any other alternative not having that capability
[–]zoninationFAQ/Wiki Contributor 3 points  
Good question. Someone with experience from switching might be able to help you better.
[–]pojodojo 1 point  
If you need to do multi-state filing, TaxSlayer is pretty solid. I've used HRBlock in the past, but it can only do a single state, so if you moved during the year or need to file in more than one state, it doesn't work well.
[–]BrainSturgeon 1 point  
Went from TurboTax to TaxAct and haven't missed anything, personally.
[–]zoninationFAQ/Wiki Contributor 1 point  
I have been using TaxSlayer, and after reading plenty on TaxAct, I might make the switch some time this year.
[–]13374L 6 points  
I'm giving the HR Block package a try. Picked up the Deluxe version from Amazon for $22 and it looks like it does everything the TurboTax Premier version does for $90.
[–]paneubert 3 points  
Yep. This could have been written by me. Was 99% the way to buying TurboTax as I have done for years, saw the horrible reviews about how they have removed a lot of the features and force you to upgrade when you discover they took away what you need, saw the good reviews for H&R Block (a lot even specifically mentioning that H&R Block has the missing features) , and went with them this year. I don't anticipate it being a bad choice.
Ohh, and P.S..... H&R Block will import your TurboTax returns from last year if you like that sort of thing. So there should be no concern with going to H&R Block when you did TurboTax last year.
[–]bilbravo 1 point  
I've used this product (H&R Block Deluxe) for a few years now (last year was the first year I used the desktop software, prior I had used the web version called Tax Cut). I really like it.
I do federal only because my state has a very simple e-file that is free for everyone.
[–]rnelsonee 5 points  
I like TaxAct just fine - their Deluxe for $18 or so is comparable to TurboTax's $75 business edition. I half-used Tax Slayer, but didn't like it as much a few years ago.
[–]andrew_the_geek 1 point  
If I hadn't switched to TaxAct 4 years ago, TurboTax moving Schedule C into Home & Business would have done it. I just lock in the $14 Ultimate bundle every year without thinking about it.
[–]XopherVT 2 points  
I've been using TaxCut (HR Block) for about 5 years with no complaints.
[–]HerecomesHoneyLulu 2 points  
I used Tax Slayer last year and liked it.
[–]CakeisaDie 1 point  
I like Taxslayer and if you are a simple person HR Block's software is pretty good.
[–]Ed_McMuffin 1 point  
TaxAct
[–]redberyl 1 point  
Tax act. Do it.
[–]apopheny 1 point  
Does the Turbotax Amazon bonus change the calculation for anybody? I haven't looked over my options yet, but I should have a fairly simple tax situation with no state tax, and I think it's likely that I'll just go with Turbotax again this year and max the bonus.
[–]PorshiaPortiahPortia 1 point  
I have always used TaxAct and I am happy with it. Have never tried TurboTax.
[–]big_deal 1 point  
I had a problem with Turbotax years ago and switched to H&R Block.
[–]CydeWeys 1 point  
Does anyone know if TaxAct Deluxe includes handling for rental property income (and deductions for depreciation)? It seems to do everything else I need, like capital gains, but I also definitely need rental income. I couldn't find an answer either way on the website.
[–]Gil_V 1 point  
I would be amazed if it didn't
[–]ononono 1 point  
I like Free Tax USA.
[–]Gil_V 1 point  
Taxact.com
[–]pentium4borgFAQ/Wiki Contributor 2 points  
I have never used TurboTax, but last year I used TaxAct and I was able to do my federal taxes for free. (No state tax.) I had investment transactions to report. I ended up entering them manually, but I don't have a large amount of transactions.
My taxes this year will be similar although I have to report ISO (stock option) exercises. I still plan to use TaxAct.
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