Tax Software

[frank]

what is bunching of itemized deductions?

 

[The Cosmic Avenger]

what is bunching of itemized deductions?

For example, if you're single, and you normally donate $10K per year to charity but have no other deductions, you will get the $12K standard deduction and the donations have no impact on your taxes. If you can save up for 3 years and donate $30K in one year instead, you'll get to deduct $30K that year, and $12K the other two years, instead of $12K every year.

This works really well with Donor Advised Fund, where you get the deduction the year you put the money in, but it holds it like an investment account, and only distributes it to charity when you tell it to. (Although you can never take the money out again, only donate it.) Then you can get the deduction in one year, but spread out the distribution over the 3 years.

 

[523HRR]

Not a fan if putting my tax return info online. I just download the desktop TurboTax free from Fidelity and mail my return to the IRS.

 

[dixonge]

I've used Free File Fillable Forms for years, which has become less pleasant as our taxes have become more complex in recent years. This year I used FreeTaxUSA and it was so much more pleasant and easy in comparison. I'm a convert, for sure. Here's a link to their security page: https://www.freetaxusa.com/safe.jsp

I agree with mountainsoft. Even if you don't put your information out there, it's out there anyway.

I just used FreeTaxUSA today. Went very smooth, paid $0. Benefit of domiciling in a state w/ no income taxes.