gregintenn
Member
I've never had any trouble with a schedule D. Perhaps this year will be a first? I just read the instructions and fill in the blanks.
Tax Return Season Is Here - But Be Careful This Year!
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S&WIowegan
US Veteran
The pursuit of "making your numbers" turns corporate lackeys into sleaze balls. I use TT and have for years. My returns are very complex and TT leads me through it. The tax regime in the US is absurd.
I don't expect the tax code to ever be reformed. Congress made it the way it is and they simply CAN NOT resist tinkering with the code to help or punish as they chose.
I don't expect the tax code to ever be reformed. Congress made it the way it is and they simply CAN NOT resist tinkering with the code to help or punish as they chose.
shouldazagged
Absent Comrade
The IRS told me last year that I no longer need to file. I'm holding them to it.
There are a few advantages to being old and broke.
There are a few advantages to being old and broke.
I will have used Turbo-Tax now for three years, previously prepared my taxes with pencil and calculator. I finally gave up on Feds and States when they stopped mailing out the booklets. Actually, they did me a favor. Turbo Tax and electronic filing is great.
I have always purchased Turbo Tax at Sam's Club.
2012 Deluxe Version was $49.00 Retail, got a $10.00 discount (it had Schedule "E" and 4562 for rentals)
2013 Premier Version $69.98 Retail, got a $15.00 discount, $54.98 net.
2014 Premier Version $69.98 Retail, got a $15.00 discount, $54.98 net.
Premier lists Investments and Rental Property. I decided to move up to Premier for 2013 because I did some improvements on rental property, required depreciation over a number of years. For an additional $15.98, move to Premier Version was easy decision. I'm not planning to jump ship for $15.98.
I would never want to go back to manual method where postage was only out-of-pocket expense. For 2013, I spent $135.00 for software and electronic filing for Federal and two states using Turbo Tax.
I have always purchased Turbo Tax at Sam's Club.
2012 Deluxe Version was $49.00 Retail, got a $10.00 discount (it had Schedule "E" and 4562 for rentals)
2013 Premier Version $69.98 Retail, got a $15.00 discount, $54.98 net.
2014 Premier Version $69.98 Retail, got a $15.00 discount, $54.98 net.
Premier lists Investments and Rental Property. I decided to move up to Premier for 2013 because I did some improvements on rental property, required depreciation over a number of years. For an additional $15.98, move to Premier Version was easy decision. I'm not planning to jump ship for $15.98.
I would never want to go back to manual method where postage was only out-of-pocket expense. For 2013, I spent $135.00 for software and electronic filing for Federal and two states using Turbo Tax.
OP
Whether you choose to use the software, or live dangerously and just use the forms, 2014 is the first year that we are now required to report whether or not that we had health care coverage all year (aka "minimum essential coverage"). You'll also need Form 8965:
Beginning in tax year 2014 there is a new reporting and certification requirement that is required to be reported when you file your Federal tax return. This new requirement is associated with the provisions of the "Affordable Care Act (ACA)". In a nutshell, all individual taxpayers must now have health care insurance coverage. If you did not have health care coverage in the prior calendar year you will need to complete Federal Form 8965, "Health Coverage Exemptions" (http://www.irs.gov/pub/irs-pdf/f8965.pdf ). The instructions for completing the form are provided at the IRS website (http://www.irs.gov/pub/irs-pdf/i8965.pdf ) . This is a standard tax form and should be included with your off-the-shelf tax return preparation software.
Beginning in tax year 2014 there is a new reporting and certification requirement that is required to be reported when you file your Federal tax return. This new requirement is associated with the provisions of the "Affordable Care Act (ACA)". In a nutshell, all individual taxpayers must now have health care insurance coverage. If you did not have health care coverage in the prior calendar year you will need to complete Federal Form 8965, "Health Coverage Exemptions" (http://www.irs.gov/pub/irs-pdf/f8965.pdf ). The instructions for completing the form are provided at the IRS website (http://www.irs.gov/pub/irs-pdf/i8965.pdf ) . This is a standard tax form and should be included with your off-the-shelf tax return preparation software.
Lets be careful with the political leanings on this. There's some good info coming here and I'd hate to see it closed.
I also don't like paying to do my taxes, but my time and sanity are worth the price. Besides, it's also a write off.
So do I understand correctly that TT has rescinded the price increase? Or is the Deluxe version again able to do what it did before, negating the need to upgrade to premium?
I'm not sure where it stands now.
I also don't like paying to do my taxes, but my time and sanity are worth the price. Besides, it's also a write off.
So do I understand correctly that TT has rescinded the price increase? Or is the Deluxe version again able to do what it did before, negating the need to upgrade to premium?
I'm not sure where it stands now.
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I've used a CPA for 20+ years. Yes it can get expensive, $250.00 and up. It's money well spent if you file anything other than the basic 10-40 forms.
Used to teach that, crossed 60 and now suddenly I don't know anything, and everyone around me looks 12 years old and are experts in everything.....
I have been good with taxAct the past 10 years, mostly the free version to get started then I look to the IRS docs and forms to clarify. Have not started this year but I am not looking forward to it...
finesse_r
Member
You would think IRS would furnish Turbo Tax type software to all their "clients" in order to facilitate collection of a few trillion dollars. They could provide the DVD's or CD's for a fraction of what they spend on paper forms each year. I expect they could save far more than 11 percent just by doing that.
Better yet, make it a download for those who have high speed internet and they would not even need many CD mail outs.
Better yet, make it a download for those who have high speed internet and they would not even need many CD mail outs.
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Why not make us purchase it, similar to health care. They could even have Platinum, Gold, and Silver plans based on income or complexity of returns. You would be dealing directly with the enforcement division, so that would eliminate us having to deal with the software companies directly. Problems?... just call the 800 number and get placed on hold!
We could make them even bigger, stronger, and less responsive to common people. Sounds like a plan!
THE PILGRIM
Member
You folks who don't want to use a computer to prepare your tax return would get a bottle of ink and some quill pens.
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