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Thread: Turbo Tax or Tax Act?

  1. #1
    Senior Member RDU-JFK's Avatar
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    Turbo Tax or Tax Act?

    I've always done my taxes by hand, but with a complex return anticipated for the next 2012 tax year (sale of real estate) and tired of being called a dinosaur I am considering using one of the websites this year so I have a record and familiarity before next tax year's disaster.

    Anyone have any recommendations or personal experiences with either? If Turbo Tax, which version should I get? I own some stock and mutual funds but did not sell anything. Had some residual capital gains of like 30 bucks through a bond fund. I don't have any major itemizing this year so it will be the Standard Deduction for me.

    Thoughts? What about for State taxes?
    "I can't wait until tomorrow, cause I get better looking everyday"
    --Joe Namath

  2. #2
    Senior Member moose135's Avatar
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    I've used TurboTax every year since 1999, maybe earlier than that, and wouldn't use anything else. I not sure which version you will need, but you can check the features of each here:
    http://turbotax.intuit.com/personal-taxes/

    I've always used the Deluxe version, it includes a state return (your choice of states). TurboTax makes it easy to enter your information, they ask fairly plain-language questions to prompt your entries, and once you complete the Federal return, it automatically enters your data into the state return, and all you have to do is go through any differences in allowances/deductions.

    And next year, if you use it again, it will read your prior year info, and use that as a starting point - so if you have the same employer, or investment sources, the identifiers are already entered, and it will ask you if you have any data to enter for each.

  3. #3
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    I used TaxCut for years but as of last year switched over to Turbo Tax. No issues, its fast, easy, and very clear questions. I itemize and it took me all of 20 mins to do. If you are a Capital One customer you get 25% off as well.

  4. #4
    Senior Member RDU-JFK's Avatar
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    Just finished using Turbo Tax. It was great, user-friendly, and seems prepared to handle complex issues. Thanks for the recommendations!
    "I can't wait until tomorrow, cause I get better looking everyday"
    --Joe Namath

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