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If so, how hard is it, and do you recommend the purchase? Does the program coach you in locating the data on the forms from the various investment companies?
Looks like I would have to spring for the Premier Edition for approx $60 + pay for the state tax part of the program if I want to use Turbo for that also -- another $35. Total of approx $95.
In comparison, I can get my entire tax reporting done for approx $175 at Liberty, but of course that's per year. If I buy Turbo, it supposedly will be good indefinitely.
Pros? Cons?
Follow Ups:
At this point, I'll probably stay with a preparer because the price versus Turbo seems equivalent when factoring in the comp work. I think I'm less likely to be called by the IRS if a pro company signs the return. Maybe not.
But I'm curious to learn more about the online programs, so will examine those more closely. Block has a cheap app that I should include. Thanks again.
Tax laws change every year and the software has to reflect those changes. Now, unless they have a system where you can get free updates on line yearly then you need a new disc yearly. Likewise, states change their laws as well.
Doing them on-line with the same company every year, and paying accordingly, is the best way to go about it. The company generally remembers much pertinent data from previous years to make redundant data entry superfluous.
Obviously NOT a Government program!
"Once this was all Black Plasma and Imagination" -Michael McClure
The basic edition does capital gains. It used to be $20, but I am sure it is more now. Their deluxe edition is for business owners. I am sure Turbo Tax does capital gains too. HR block used to allow a tax expert to double check returns, but that is probably not free now.
We buy a new one every year. Don't know if we need it. I think you would have to figure out how to zero out all the data you input or something. Anyway, as far as capital gains are concerned, you link it somehow to your brokerage online and download their records. My wife does all this stuff.I asked, and she says you have to buy a new one every year. We need a business version. If you don't, Fidelity, amd maybe some of the other brokers, have a free version you can download.
Edits: 01/20/15
Sam's just had a coupon for $15 off on TT, that was nice
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"Have you a water buffalo?"
To account for yearly changes in tax law, they make new CDs. I buy a new CD every year. Like I said, I'm probably doing something wrong, if sumbuddy else can chime in I'm all ears. AFAIK they update it every year and you have to have a new CD.
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"Have you a water buffalo?"
every year as well, so perhaps both of us are doing it wrong...
If a thing's worth doing, it's worth doing well
(Proverb)
Tax laws are changed, forms are changed. So, software must also change. I've used TT for at least ten years (on a different computer, hackers!). Never "e-file", always print and send.
You can get the program at a discount if you wait a couple of years and buy it used. I do this regularly. Fixin' to do my 2012 taxes soon. 'Course, there's penalties and interest, if you owe (which I usually do), but, like Obama said last night, the stock market has doubled under his reign, so, I'm dollars ahead.
:)
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