TurboTax Warning

Discussion in 'Tech Talk - Gadgets, Gizmos and Technology' started by billsharpe, Dec 30, 2014.

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  1. Dec 30, 2014 #1 of 105
    billsharpe

    billsharpe Hall Of Fame

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    Stay away from TurboTax Deluxe this year if you need Schedules C, D, E, or K-1. The 2014 version will not let you e-file if you use these schedules.

    Check the reviews on Amazon.com for details. The HR Block software is recommended as a substitute. It's significantly cheaper and can import details from last year's TurboTax summary.
     
  2. Dec 30, 2014 #2 of 105
    hdtvfan0001

    hdtvfan0001 Well-Known Member

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    Thanks for the information, but it's important to note that there are 4 different versions of TurboTax.

    The TurboTax website itself has all the detailed information on each version.

    Anyone can simply pay the nominal difference in price for the Premier version with Schedule D, or else the Home & Business version for self-employed people. They are simply changing the versions slightly from the past to align them with specific non-standard tax-filing needs.

    Schedule C is needed only for self-employed P&L (sole owners).
    Schedule D is needed only for reportable Capital Gains.
    Schedule E is used for rental income, receive royalties, or have income reported on a Schedule K-1 from a partnership

    No impact for most people filing their taxes...and none here either...so sticking with TurboTax Deluxe.
     
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  3. Dec 30, 2014 #3 of 105
    Steve

    Steve Well-Known Member

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    Good info. Thanks for the heads-up, Bill.
     
  4. Dec 30, 2014 #4 of 105
    harsh

    harsh Beware the Attack Basset

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    Your clarification is not clearer nor is it a more accurate statement. The older versions didn't include the schedules but they still allowed you to insert the results from the schedules and e-file.

    For the specific class of taxpayers that was clearly defined, it is the significant reduction in functionality that billsharpe makes it out to be.

    Why Intuit did it doesn't matter. The fact that they removed functionality from the basic paid product does matter to those who had been previously getting by with a $50 cheaper edition.

    Turbo Tax is getting expensive.
     
  5. Dec 30, 2014 #5 of 105
    jimmie57

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    Thanks.
    I have been using the Basic version from day 1. It has, in the past, always done the sale of stocks for me. From their own web site it appears that there is no longer a Basic version and the comparison down the page a ways does show that the Deluxe no longer does the sale of stocks.
    https://turbotax.intuit.com/
    I guess I will now have to get the Premier for almost twice the price. DANG IT !!!
     
  6. Dec 30, 2014 #6 of 105
    trh

    trh This Space for Sale

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    Jimmie -- there is a Basic version listed for the CD/Download versions. But not if you use Online TurboTax.

    But you're correct, if you select "Sold Stock or Bonds/Own Rental Property", you're told the Premier is the TurboTax product you need to purchase.
     
  7. Dec 31, 2014 #7 of 105
    phrelin

    phrelin Hall Of Fame DBSTalk Club

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    Actually, they upgraded us for free:

    [​IMG]

    Of course, we started by using the auto-transfer from last year's return.

    Now whether I'll buy Premier next year, we'll see.
     
  8. Dec 31, 2014 #8 of 105
    hdtvfan0001

    hdtvfan0001 Well-Known Member

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    Apparently it is - the full listing of the 4 different versions and the schedule distribution by version is listed in my post (which was not included in the original post). That is needed very important to understand IF and how those schedules may impact tax payers using the product/version.

    Perhaps you need to read it again, unless you're posting just to argue.
     
  9. Dec 31, 2014 #9 of 105
    hdtvfan0001

    hdtvfan0001 Well-Known Member

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    Good added information that people have the availability to upgrade for free if the added schedules are needed by using the Deluxe version this year!
     
  10. Dec 31, 2014 #10 of 105
    harsh

    harsh Beware the Attack Basset

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    Your statement (that has subsequently been removed from your post) was not factual.

    Suggesting that there are other versions does NOT change the issue that it used to work and now it doesn't.
     
  11. Dec 31, 2014 #11 of 105
    harsh

    harsh Beware the Attack Basset

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    One should not summarily ignore the expressed limitation of "Because you're a TurboTax Advantage member" (automatic renewal).
     
  12. Dec 31, 2014 #12 of 105
    hdtvfan0001

    hdtvfan0001 Well-Known Member

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    The beagles are on a mission to chase their tail...but to no avail...here on New year's Eve.

    [​IMG]

    :rotfl: !rolling

    Happy New (Tax) Year!
     
  13. Jan 2, 2015 #13 of 105
    bobnielsen

    bobnielsen Éminence grise

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    Amazon Prime members can purchase the Premier version for $54.99.
     
  14. Jan 2, 2015 #14 of 105
    gpg

    gpg Well-Known Member

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    If anyone is interested in H& R Block at Home, Amazon is selling the digital download deluxe with state version for $21.99 today.
     
  15. Jan 2, 2015 #15 of 105
    Steve

    Steve Well-Known Member

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    Thanks, Bob. Just ordered it!

    More than 50% off. NIce. Here's a price comparison chart. TaxACT looks like the best deal. Not sure if it can import previous years from the competition. I know that a few years ago, I was able to go from TT one year to H&R block the next and then back to TT the year after that.

    http://financialsoft.about.com/od/otherfinancialsoftware/fl/Compare-Tax-Software-Prices-for-Tax-Year-2013.htm
     
  16. Jan 2, 2015 #16 of 105
    SeaBeagle

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    Tax Slayer is fine for me.


    Sent from my iPad 4 128GB using DBSTalk mobile app
     
  17. Jan 2, 2015 #17 of 105
    trh

    trh This Space for Sale

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    That price comparison is for software for tax year for 2013.
     
  18. Jan 2, 2015 #18 of 105
    spartanstew

    spartanstew Dry as a bone

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    I thought that was just a bowl game.
     
  19. Jan 3, 2015 #19 of 105
    SamC

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    Unless the government gives me a discount for e-file, I never will. I will print out paper forms. This is the least efficient method for the government. Anything to cause it pain.
     
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  20. Jan 3, 2015 #20 of 105
    hdtvfan0001

    hdtvfan0001 Well-Known Member

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    I can understand that...paying an additional fee for that service does seem somewhat unreasonable.

    That said, we e-file each year and get the return processed quickly and have an electronic receipt for documentation. Our contention is that the risk in trusting the mail service for delivery of important documents seems to outway the nominal cost to e-file. But to each their own.
     

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