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Old 11-06-2020, 09:56 AM   #101
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I just purchased and downloaded 2020 Turbotax Home and Business. That will e-file FED and includes 1 State (efile not included) - $79.99. After you install your download it is easy to add another state, and I think it is $19.95 for additional states.
Thanks for the info. I'll have to do some more research before deciding what to use. Lots of time before I have to buy anything since I can't do my taxes until late February at the earliest anyway.
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Old 11-06-2020, 12:07 PM   #102
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Thanks for the info. I'll have to do some more research before deciding what to use. Lots of time before I have to buy anything since I can't do my taxes until late February at the earliest anyway.
Some of us have the business side all wrapped up before the end of this year. Or at least have things complete enough to make business decisions before you can not. It helps to know profit you'll be taxed on so you can finish up retirement deduction, final estimated payment, etc. Maybe make additional equipment purchases or delay billing to lower business profit if that is advantageous.

Good luck with your search.
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Old 11-06-2020, 12:26 PM   #103
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Slightly off topic, but this latest run up has put me over the 7 figure mark at Fidelity and they assigned me "a guy". Is it for sure I'll get free tax software?
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Old 11-06-2020, 12:33 PM   #104
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Slightly off topic, but this latest run up has put me over the 7 figure mark at Fidelity and they assigned me "a guy". Is it for sure I'll get free tax software?
You should ask your "guy" as your "guy" will be motivated to make a good first impression
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Old 11-06-2020, 12:43 PM   #105
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Slightly off topic, but this latest run up has put me over the 7 figure mark at Fidelity and they assigned me "a guy". Is it for sure I'll get free tax software?
No, it's not for sure; there seems to be a bit of randomness from one local office to another. Watch the forum and when you see people mention getting it, then sign in to your account. If you don't see the link to download it, then by all means give your guy a call. Last year it was somewhere around late January IIRC.
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Old 11-06-2020, 09:19 PM   #106
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I do my own with H&R software (as it's cheaper than TT, and works for me).
I am self employed , and a landlord, plus interest, SS equivalent, stock sales and option trades.

I use the deluxe version as I'm used to using it, otherwise I'd go for the Premium version at $65 (today) for the Federal + 1 State.
You add more States for extra amount (I think around $37 ea).

When done you can file electronically for free for the Fed 5 times. And free for 1 State filing (don't know if buying another State includes the filing for that State).

You can print and file on paper as much as you want for free, so you can also do friends returns for fun

So for around $102 you can do it all.

If you have a "real" business, employees, etc, then I'd go for the business tax software, on the site you can see which covers what circumstances by comparing:

https://www.hrblock.com/tax-software/
I'm pretty sure h&R Block does not include a free state efile. They charge around $20. You can prepare 1 state for free in H&R Block though.
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Old 11-06-2020, 11:35 PM   #107
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I'm pretty sure h&R Block does not include a free state efile. They charge around $20. You can prepare 1 state for free in H&R Block though.
You are correct...

"One state program included, a $39.99 value.
State e-file is available for $19.95 per return."

Thanks.........
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Old 11-07-2020, 08:51 AM   #108
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I just got an email from HR Block offering their Basic program (no state) for $14.99. I don't anticipate it going much lower for Black Friday and even if it did, it couldn't be very much cheaper. Virginia offers free online fillable forms one can file online, so I don't see paying an extra 20 bucks to HRB for my state return. The state's online free file is very basic but since the return isn't complicated I'm OK with that.
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Old 11-07-2020, 09:21 AM   #109
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This topic amuses me every year. A bunch of fairly well to do people trying to save $10-$20 on tax prep software. Heaven forbid any of us pay full price

BUT, buying Tesla's is OKAY

Saving $10s and $20 is why you can buy a Tesla!
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Old 11-07-2020, 09:31 AM   #110
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Originally Posted by Sunset View Post
I do my own with H&R software (as it's cheaper than TT, and works for me).
I am self employed , and a landlord, plus interest, SS equivalent, stock sales and option trades.

I use the deluxe version as I'm used to using it, otherwise I'd go for the Premium version at $65 (today) for the Federal + 1 State.
You add more States for extra amount (I think around $37 ea).

When done you can file electronically for free for the Fed 5 times. And free for 1 State filing (don't know if buying another State includes the filing for that State).

You can print and file on paper as much as you want for free, so you can also do friends returns for fun

So for around $102 you can do it all.

If you have a "real" business, employees, etc, then I'd go for the business tax software, on the site you can see which covers what circumstances by comparing:

https://www.hrblock.com/tax-software/
The site says if you have investments you need the $44.95 version. Just for LTCGs and Losses? What about interest and dividends?
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Old 11-07-2020, 09:42 AM   #111
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I shouldíve followed this thread more closely. I decided to give TT a try this year instead of H&R Block. I just always thought TT is overpriced. The Amazon TT bundle has gone up to $59 now. Guess Iíll wait to see if it drops again.
+1. Now $59.99 less $10 Amazon gift card would be $49.99 ... I'll wait but I wish I had been following this thread more closely cuz I would have jumped on it at $39.99
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Old 11-07-2020, 10:10 AM   #112
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This topic amuses me every year. A bunch of fairly well to do people trying to save $10-$20 on tax prep software. Heaven forbid any of us pay full price ...
Kahneman and Thaler ride to the rescue and explain:

Economists have a fuzzy idea that incorporates goodness, happiness, satisfaction, etc. It is called "utility."

Buying the software involves two kinds of utility. (1) "Acquisition Utility" due to the desired exchange of money for software. The buyer would rather have the software than the money. Buying a hamburger is the same; the buyer has increased acquisition utility. This is pretty much standard economics.

The interesting one, though, is #2 "Transaction Utility." This, basically, is a buyer's happiness at getting a bargain or, in the negative, finding out that he'd paid more that he had to. This idea is Kahneman's and Thaler's contribution. Thaler writes of a friend who had a double bed and needed a quilt, but bought a king size quilt because the price was so good.

For myself, I am always seeking transaction utility. I love negotiating and look forward to the rare days when I am buying a car from a dealer. I also seek $10 savings on software, always buy Amazon Warehouse items if available, and always shop the used books on Amazon before buying new. None of what money I gain from this, including the cars, has any real economic impact on our net worth. But it's fun! YMMV, and probably does.

I do think, though, that repeatedly demonstrating a goal of positive transaction utility as kids are growing up is A Good Thing." It's one element of a LBYM financial strategy.
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Old 11-07-2020, 10:24 AM   #113
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Amazon has a sale on TurboTax today. Deluxe plus state is $49.99 with a $10 Amazon gift card. I think thatís generally as low as it has gone in past years.

https://www.amazon.com/TurboTax-Soft...DKIKX0DER&th=1
Just saw this. Thanks.

Ordered Premier + State disc for $69. Good as deal as I think there will be till the first of the year - too late for me. Only reason we need TT P is our dinky rentals LLC.
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Old 11-07-2020, 10:51 AM   #114
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The site says if you have investments you need the $44.95 version. Just for LTCGs and Losses? What about interest and dividends?
Basic handles this fine for me. Check the list of forms supported by each version; all support 1099s. It might not hold your hand as much, but Iíve used it for years and had no issues.

I hope others will chime in with their experiences as well.
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Old 11-07-2020, 10:55 AM   #115
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The site says if you have investments you need the $44.95 version. Just for LTCGs and Losses? What about interest and dividends?
I buy the $44.95 version when it's on sale around $20.

Last year I got it from Newegg.com for $19.99 at the end of Nov. but if I see it for $22 or less I buy as I never know if that will be the lowest price or not.

I do 4 tax returns each year, ours + 3 relatives, I like having the State included, as it carries over info from the Federal return, so it's quicker to finish the State one.
Then I print out the State one, and use it as a reference to do our State's Online Tax Return, ensuring I don't miss something.

I could simply mail in the State return but our State also wants the Federal one mailed with it, which is stupid.
The nice thing about using the State's online system, is we know immediately it's filed, and we can print a copy of what we filed on their system.
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Old 11-07-2020, 11:03 AM   #116
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For those that download TT, can you burn the download to a CD for future reinstall?
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Old 11-07-2020, 11:58 AM   #117
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I just got an email from HR Block offering their Basic program (no state) for $14.99.
I got the same email but for the Deluxe version. Offering $20 off or $24.99. + tax + optional $5.99 for Extended Download Service. I was a little excited about this, but then, I looked back to what I paid last year at Amazon on Thanksgiving weekend: $14.99 plus state sales tax - and optional charge for 'Extended Download Service.' I think I'll wait until Turkey Day.

- Rita
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Old 11-07-2020, 01:54 PM   #118
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For those that download TT, can you burn the download to a CD for future reinstall?
Yes you can. I also add a text file with validation code just in case.
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Old 11-07-2020, 02:37 PM   #119
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This topic amuses me every year. A bunch of fairly well to do people trying to save $10-$20 on tax prep software. Heaven forbid any of us pay full price

BUT, buying Tesla's is OKAY
Quote:
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Saving $10s and $20 is why you can buy a Tesla!
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Originally Posted by OldShooter View Post
Kahneman and Thaler ride to the rescue and explain:

Economists have a fuzzy idea that incorporates goodness, happiness, satisfaction, etc. It is called "utility."........
Looks like my earlier post is getting a second round of comments. Just to be clear, at no point did I say I don't do the same thing, because I do. But I still find it amusing
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Old 11-07-2020, 04:17 PM   #120
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I got the same email but for the Deluxe version. Offering $20 off or $24.99. + tax + optional $5.99 for Extended Download Service. I was a little excited about this, but then, I looked back to what I paid last year at Amazon on Thanksgiving weekend: $14.99 plus state sales tax - and optional charge for 'Extended Download Service.' I think I'll wait until Turkey Day.

- Rita
That's odd, because when I go to their web page I see Basic for the sale price of $14.99 and Deluxe plus State for $34.95, but not Deluxe only. Interesting. No consequence to me since I only wanted Basic, but hmmmm....
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