1040A vs 1040

[ER_Hopeful]

have been using taxact for many years and was shocked to see the big price jump for 2016 returns ($69.00 for the deluxe version). Their basic version(1040EZ/1040A) is free for federal while state return is $39 extra.

Looking at my past two returns, they are 1040, just wondering what triggered it to be 1040 instead of 1040A.

I only have one w2, married file jointly, some 1099-div (div and cap gain), small amount of mortgage interest, that's about it. standard deduction. On my w2, I do have HSA which requires form 8889, is that the trigger?

[Texas Proud]

The 1040 EZ cannot do divis or cap gains...


1040A no cap gains...


I would go to H&R block as it is much cheaper... others will talk about other tax programs... I am sure there are a few for much less than what you post...

[ERD50]

Former TaxAct user here - yes, TaxAct got way $$$ this year. Used FreeTaxUSA on a recc from this forum for DD taxes, and will use it myself next year. Free fed and $12.95 state. Program seemed to work just fine.

-ERD50

[ER_Hopeful]

Quote:

Originally Posted by ERD50 Former TaxAct user here - yes, TaxAct got way $$$ this year. Used FreeTaxUSA on a recc from this forum for DD taxes, and will use it myself next year. Free fed and $12.95 state. Program seemed to work just fine. -ERD50

do you feel safe having all your personal/financial data stored on these tax prep websites or is it better to pay for a downloaded version and do it on your own computer?

[ERD50]

Quote:

Originally Posted by ER_Hopeful do you feel safe having all your personal/financial data stored on these tax prep websites or is it better to pay for a downloaded version and do it on your own computer?

I'm not sure I would say I "feel safe", nothing is 100%. I don't feel safe with the Feds having all my info either - who says someone inside can't get enough of my data to cause me trouble?

But I accept the risk and do it, and don't lose any sleep over it. Pretty much every financial institution I do business with has this same info (SSN, bank account #'s, etc). Everyone you write a check to has your bank routing and account #, and a sample of your signature. Whether or not you feel safe enough is a personal decision.

-ERD50

[AllDone]

Check aarp.org and see if there is a tax prep program in your area. AARP partners with the IRS to provide free tax prep and doesn't charge anything to prepare and file both your state and federal taxes. We are trained and tested yearly and use professional tax software. My mom, sister, and I volunteer with them every year.

[rbmrtn]

Also a long term TaxAct user and switched due to the price increase. I tried FreetaxUSA but found it does not handle K-1s correctly for PTPs, and used Online Taxes, free via IRS FreeFile.

I found that TaxAct will have specials starting around April on SlickDeals, current is $40 off the plus version which gives $7.50 for the fed + $12.50 for state.

https://slickdeals.net/coupons/taxac...id=1102296#all

[DayDreaming]

I did the TaxAct "Premium" Federal & State online version this year, it was $30.98, last year it was $34.98, the year before that it was $16.99.

I always take advantage of the emails they send throughout the year about locking in your lower price now (or something like that) - they don't charge anything until you actually file, so why not.

[scrabbler1]

1040A can include cap gains if they all cap gain distributions, not from individual sales which require Schedule D and Form 8949. Back in 2013, I was lucky enough to have no cap gains other than distributions, and I did not itemize my deductions that year. So, I was able to use 1040A for a nice, pleasant change.

[ER_Hopeful]

Quote:

Originally Posted by rbmrtn Also a long term TaxAct user and switched due to the price increase. I tried FreetaxUSA but found it does not handle K-1s correctly for PTPs, and used Online Taxes, free via IRS FreeFile. I found that TaxAct will have specials starting around April on SlickDeals, current is $40 off the plus version which gives $7.50 for the fed + $12.50 for state. https://slickdeals.net/coupons/taxac...id=1102296#all

I clicked thru the slickdeals link, then selected their $7.50 Plus version, logged in and filled out the return. But when I'm about to start the state, it says it's additional $38(not $12.50), then I went to check pricing under My Returns, it says $37 (not $7.50)

any idea why? I emailed them but haven't heard back.

thanks.

[ER_Hopeful]

Quote:

Originally Posted by rbmrtn Also a long term TaxAct user and switched due to the price increase. I tried FreetaxUSA but found it does not handle K-1s correctly for PTPs, and used Online Taxes, free via IRS FreeFile. I found that TaxAct will have specials starting around April on SlickDeals, current is $40 off the plus version which gives $7.50 for the fed + $12.50 for state. https://slickdeals.net/coupons/taxac...id=1102296#all

never mind. i figured it out.