Sched D removed from TT 2014 Deluxe

[Theseus]

I decided to try sharpening the virtual pencil by downloading new 2014 tax year software, but when perusing the reviews on Amazon found out very quickly that Schedule D has been removed from the Deluxe version of TurboTax, meaning one would need to go the Premium version (+$20.00) to handle capital gains/losses. Right now I'm looking at TaxAct, $21.99 for the downloadable version, w/state. Some reviews I've found seem to place TaxAct near the top along with TurboTax as far as functionality, ease of use, & accuracy. I've used TurboTax for years, but have been somewhat skeptical of the value for the money in recent years, this Sched D thing may well be the straw that broke the camel's back. Does anybody here have insights on TaxAct from previous use that might be helpful?

 

[Dimsumkid]

Sch. D actually hasn't been removed. You probably mean you can't efile if you use Sch D and there won't be any interview (walk thru) questions to fill out the form. Here's a reply from Turbotax on Amazon about Sch D in the Deluxe version:

Bob Meighan, VP TurboTax says:
(MANUFACTURER)
As I've mentioned in many other places, you are NOT required to upgrade to Premier. You can still use forms mode to complete Schedule D and print/mail your return to the IRS. There is no forced upgrade or requirement that you purchase Premier. It's the same with Schedule E. Please read my "Open Review" posted on this site.

Thanks,
Bob Meighan, VP TurboTax

 

[MichaelB]

I've been following the raging debate over on the Amazon reviews. They are very interesting. On the one hand, quite a few 5 star reviews from satisfied users who appear to have filed their taxes for 2014 even thought the year is not over, no 1099's or W-2's have been issued. I wonder how that works. On the other, lots of complaints, many with responses by TT, all confirming that S-D is still there.

What Mr. Meighan neglects to point out is if you manually enter the data on the Schedule D 1) you no longer can file electronically, you must print and mail, and 2) the TT guarantee of accuracy becomes null and void.

 

[Theseus]

Sch. D actually hasn't been removed. You probably mean you can't efile if you use Sch D and there won't be any interview (walk thru) questions to fill out the form.

Semantics aside, efile being unavailable in the case of Schedule D seems to devalue the Deluxe version from what it had been in previous tax years.

 

[Dimsumkid]

I really think Turbotax tried to remove Sch D last year, but got caught only changing some ads and had to revert back to the old inclusion of Sch D. As you posted this, it sounded eerily similar to last year's issue of is Sch D included or not, but the concern was is it in the CD version and not the online version? So, this step forward seems like a progression of last year's move to me anyway.

http://www.early-retirement.org/forums/f28/turbo-tax-pulled-a-swifty-this-year-70206-2.html

 

[pb4uski]

I did seem to remember that similar issue last year but I didn't recall the details.

On a related issue, has anyone heard when Vanguard will make TT available. It just says early December on their website:

Coming soon: TurboTax for tax year 2014 will be available in early December. Please return to this page at that time to take advantage of great discounts. ...

 

[Peter]

I get the CD version every year, but had no idea that this downgrade had taken place. The 'excuse' given by the TurboTax VP would be laughable if it wasn't so insulting.

BUT ...

I loaded my copy of TT and observed that schedules C, D and E were apparently missing. Tried to open D in forms and a message popped up offering me a free upgrade to TT home and and business! So it looks as if they are letting established customers off with 'one more year'.

Either that, or I'm just very lucky!

 

[aja8888]

I've been using TT for so long I can't remember when I started. Looks to me like a downgrade cycle to get people to buy the premium versions, which very few people need.

I believe this year I will give Tax Act a try or maybe H & R Block's software.

 

[KM]

FWIW - I've been using TaxAct for the past 6-7 years and have been pretty happy with it.

 

[youbet]

If I switch to TaxAct, will TaxAct import info from last years TT?

 

[youbet]

What Mr. Meighan neglects to point out is if you manually enter the data on the Schedule D 1) you no longer can file electronically, you must print and mail,

Thanks for pointing that out!

Not filing electronically seems to be the rub, at least for me. I try to really understand my CG's and their impact on my taxes so I do a lot of manual fidgeting with the numbers. Entering them onto a Sched D manually would be no big deal. I feel more confident than when I have the tax program do a dump from the brokerage sites and populate the form for me.

But I don't like the idea of having to print and mail.

 

[RetireBy90]

Thanks for pointing that out!

Not filing electronically seems to be the rub, at least for me. I try to really understand my CG's and their impact on my taxes so I do a lot of manual fidgeting with the numbers. Entering them onto a Sched D manually would be no big deal. I feel more confident than when I have the tax program do a dump from the brokerage sites and populate the form for me.

But I don't like the idea of having to print and mail.

Seems like the same they used to do with Quicken - With the basic I used to be able to get it to download stock/fund quotes and they quit that some time back.

We normally have to pay a small amount each year, and if we owe, I print and mail it in to keep my $$ in my account longer. Course that probably makes me more likely to get audited, but that is what we do.

 

[Cobra9777]

Wow. Looks like a TurboTax PR disaster in the works over on Amazon.

They have indeed removed Sch D support from the 2014 Deluxe version. They also removed Sch C from both Deluxe and Premier. You can still use forms mode to manually fill-in any of these forms, but this mode is "unsupported," meaning no interview, no data import, no validation, no error-check, and no e-file. You have to print/mail and hope that manually filling out Sch D or C didn't screw up some other "supported" aspect of your return, like AMT.

Intuit seems to have a knack for aggravating long-time customers with these periodic money-grabs. They lost me as a Quicken customer a few years ago, and now it appears I'll be shopping for new tax software.

 

[Telly]

bizlady gave us the heads-up on this mid-November, here is the thread:
http://www.early-retirement.org/forums/f28/turbotax-changes-74508.html

After verifying it myself with info available online... so ends the TurboTax dynasty for us.

We bought HR Block Tax Software 14 Deluxe (version without State as there is no state income tax here) for something like $33 on Amazon for CD.

It says it can import last years TT return, and I have just started playing with it, putting in new estimated info, to figure out how large of a Roth conversion we can do this month. Seems simple to use. Can not E-file before Jan 8th., as there will be a downloadable update then with the latest and greatest tax effects. But as said, I have no idea who would be trying to file that early anyway.

 

[davismills]

I upgraded to HR Block two years ago when Turbo Tax starting raising their rates to an unreasonable level. The software actually imported the TT data. I'll stick with HR Block.

 

[audreyh1]

Too bad TaxAct is not available for the Mac.

 

[gauss]

I have used tax act for over 10 years and have been very pleased with it. I efile every year the federal retun and paper file the state. I pay about $18/year for the download ble tax act deluxe software. Prior to this I used TT.

-gauss

 

[braumeister]

Too bad TaxAct is not available for the Mac.

I agree, but for $70 (or less, sometimes), you can get a copy of Parallels and run Windows on a virtual machine. I've done this for many years, because I have a few Windows-only applications I need (ESPlanner is one example). The current version of Parallels is so smooth and trouble-free that I don't even mind doing it.

http://www.amazon.com/Parallels-Desktop-10-for-Mac/dp/B00MA5TPN6

 

[RetireBy90]

It says it can import last years TT return, and I have just started playing with it, putting in new
estimated info, to figure out how large of a Roth conversion we can do this month. Seems simple to
use. Can not E-file before Jan 8th., as there will be a downloadable update then with the latest and
greatest tax effects. But as said, I have no idea who would be trying to file that early anyway.

Telly - I would be real interested in knowing if it imports background info like carried forward
losses and schedule E info, if you would post whatever you find on these.
I switched from TT a few years ago, but then it seemed that difference in prices narrowed. Now I see it will
cost me $75 at Fidelity to file my Schedule E and get the saved data like depreciation and losses carried
forward. May be time to jump again

 

[foxfirev5]

I have used tax act for over 10 years and have been very pleased with it. I efile every year the federal retun and paper file the state. I pay about $18/year for the download ble tax act deluxe software. Prior to this I used TT.

-gauss

Time to make the change. I'm more than tired of being dinged constantly by these ploys. Just the same as dealing with Comcast - which does it on an even more regular basis.

 

[audreyh1]

I agree, but for $70 (or less, sometimes), you can get a copy of Parallels and run Windows on a virtual machine. I've done this for many years, because I have a few Windows-only applications I need (ESPlanner is one example). The current version of Parallels is so smooth and trouble-free that I don't even mind doing it.

http://www.amazon.com/Parallels-Desktop-10-for-Mac/dp/B00MA5TPN6

That certainly is an option. It's good to know the Parallels application works well - thanks for mentioning it.

 

[audreyh1]

Wow. Looks like a TurboTax PR disaster in the works over on Amazon.

They have indeed removed Sch D support from the 2014 Deluxe version. They also removed Sch C from both Deluxe and Premier. You can still use forms mode to manually fill-in any of these forms, but this mode is "unsupported," meaning no interview, no data import, no validation, no error-check, and no e-file. You have to print/mail and hope that manually filling out Sch D or C didn't screw up some other "supported" aspect of your return, like AMT.

Intuit seems to have a knack for aggravating long-time customers with these periodic money-grabs. They lost me as a Quicken customer a few years ago, and now it appears I'll be shopping for new tax software.

THIS!

 

[RockyMtn]

I get the CD version every year, but had no idea that this downgrade had taken place. The 'excuse' given by the TurboTax VP would be laughable if it wasn't so insulting.

BUT ...

I loaded my copy of TT and observed that schedules C, D and E were apparently missing. Tried to open D in forms and a message popped up offering me a free upgrade to TT home and and business! So it looks as if they are letting established customers off with 'one more year'.

Either that, or I'm just very lucky!

+1. Got the free upgrade offer as well. I'm sure next year I'll have to pay for the Home and Business version in order to get C,D and E.

 

[MichaelB]

One reason I use the desktop version is after filing I use my return as a basis for modeling the next year. Our portfolio is all taxable, so alternate scenarios represent different amounts of capital gains. This is something I'd much rather do automatically than manually.

I'm not sure why they didn't just increase the price.

 

[Brat]

Humm, I have always used TurboTax but don't need any of those extra schedules now. I do, however, need to file a state return. Looking at H & R Block's software I can't tell if the price quoted for Basic is $16.99 + one state $39.99 (~$57) or $39.99 inclusive of state & federal. Anyone know?