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  • Turbo tax

    For those of you guys who use turbo tax, do you just use the one online or purchase the disc from Amazon or Costco? I just went online and signed up but it looks like you can get a cheaper deal if you get a disc from Amazon or Costco. I don't know how but I think that I clicked on the wrong link last year and had to pay $170 for a federal and state taxes. The problem with the disc is that I am not sure which one I am supposed to purchase, my only abnormal tax thing is employing a household nanny, not sure if that counts as a business. Does buying the disc every year allow you to carry over whatever is needed from prior years? Also, the turbo tax isn't let me input my household employee information yet. Does anybody know why there is a delay?

  • #2
    We've used Disc TT for 25+ years. Family shares it and file 5+ returns. We vary between Costco/Amazon depending on the State included deals. this year -- Amazon.

    For Nanny is 1099/w2 her TT Home+business is the perfect product IMHO.

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    • #3
      I use it from Fidelity on my home page, it is free. Had done returns for three separate family members but they fixed that. No two get charged with a $20 discount.
      I use the online. As things change, you pick what you need.

      https://thefinancebuff.com/tax-softw...r-desktop.html

      I like having the online so not matter the hardware I am not faced with reinstalling software.

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      • #4
        True on the reinstall can be a PITA when moving into new computers. The files are all on dropbox; but the reinstalls are a bit painful every ~5 years.

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        • #5
          My computer is not new. Maybe 7-8 years old and it does not have a disk drive. Nothing really did. It works fine so I have not been in the market for another one so I do not know what is common today. But disks seem like a thing of the past.

          The online version I get is $80 maybe. For fed and state. Much cheaper than a CPA.

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          • #6
            just another vote for freetaxusa.

            my name is peds, and i was a turbotax user.....

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            • #7
              It seems like you’re trying to over-optimize.

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              • #8
                Originally posted by Peds View Post
                just another vote for freetaxusa.

                my name is peds, and i was a turbotax user.....
                How tricky is a Backdoor Roth with freetaxusa? I’ve used it before, but this is my first time doing a Backdoor Roth

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                • #9
                  Originally posted by TheJericho View Post
                  How tricky is a Backdoor Roth with freetaxusa? I’ve used it before, but this is my first time doing a Backdoor Roth
                  not tricky at all.
                  heres a walkthrough: https://thefinancebuff.com/how-to-ba...reetaxusa.html

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                  • #10
                    I use TaxAct vice TT, but the same issue pertains. I use the online version and let them keep the data. I used to be concerned about the data, and used the desk top version to save the data locally. But I eventually decided to trust the online security and only keep a hard copy for my records.

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                    • #11
                      Originally posted by Peds View Post
                      just another vote for freetaxusa.

                      my name is peds, and i was a turbotax user.....
                      What is the catch?
                      Where do they make their money?

                      And can they handle an HSA? This was the first year I thought I could get away with free turbo tax...and it won't do my HSA without "upgrading"

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                      • #12
                        Originally posted by CFEonline View Post

                        What is the catch?
                        Where do they make their money?

                        And can they handle an HSA? This was the first year I thought I could get away with free turbo tax...and it won't do my HSA without "upgrading"
                        They make you pay if you file a state return. I don't have an HSA so I can't speak to that but this is my first year using FreetaxUSA and I've had a decent experience. I think it's $13 to file the state taxes. So far I've had an account for a month and I don't see a catch

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                        • #13
                          I have used TT for years and have always used the Disk version. When I bought the company I kept the same CPA the company has had and he know does my Corp and personal taxes. I could do it with TT, but I don't mind paying and saving myself time. I still purchase TT and help my kids with their taxes which are fairly simple and routine except for one who has a Robinhood account. The import feature worked great so not really a big deal.

                          cd :O)
                          Yet those who wait for the LORD Will gain new strength; They will mount up with wings like eagles, They will run and not get tired, They will walk and not become weary. -- Isaiah 40:31

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                          • #14
                            You know you can just buy the "disc versions" off amazon, download/install instantly? This is what we're talking about?

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                            • #15
                              Originally posted by CFEonline View Post

                              What is the catch?
                              Where do they make their money?

                              And can they handle an HSA? This was the first year I thought I could get away with free turbo tax...and it won't do my HSA without "upgrading"
                              no catch, they realize that filing tax returns is incredibly low work.
                              you pay for state filing, and you can pay for enhanced filing (like unlimited re-submits or whatever), and you can pay to get like a bound official printout.
                              ive been using for years ....theres still no catch.

                              i had a HSA last year, it is correctly accounted for on my 1040....so yes.

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