Tax software functionality and deals

[kyzymurgist]

I've been using TaxAct for over a decade and don't want to lose the import of previous years info including depreciation and amortization for rental properties needed for schedule E.

But TaxAct costs have soared since they were sold and there was no Black Friday deal this year. It's now $139 which irks me.

Anyone know if TurboTax or HRB import that info easily? If so, I might jump on any cyber Monday deal.

 

[sengsational]

HRB will important from TT or a PDF of last year's tax form set. Or of course HRB. I haven't tried the PDF import, but I'm tempted to experiment.

 

[Sunset]

I've been using TaxAct for over a decade and don't want to lose the import of previous years info including depreciation and amortization for rental properties needed for schedule E.

But TaxAct costs have soared since they were sold and there was no Black Friday deal this year. It's now $139 which irks me.

Anyone know if TurboTax or HRB import that info easily? If so, I might jump on any cyber Monday deal.

They will probably do the import.
Even if they don't, its just one time you will need to manually enter the depreciation, etc for schedule E.
They have forms/windows where you input for each category per rental:

1. the cost,
2. the depreciation time frame,
3. date of first usage,
4. the amount already claimed, and (off the top of my head) you are done that one.

That is an outrageous amount.

Also remember to check it imported correctly you carried over stock losses and un-allowed rental losses (if any).

 

[jimbee]

I've been using TaxAct for over a decade and don't want to lose the import of previous years info including depreciation and amortization for rental properties needed for schedule E.

But TaxAct costs have soared since they were sold and there was no Black Friday deal this year. It's now $139 which irks me.

Anyone know if TurboTax or HRB import that info easily? If so, I might jump on any cyber Monday deal.

Wow, the last time I used TaxAct it cost $9.99 fed, $4.99 state for 2015 taxes. I guess it has gone up.

 

[jazz4cash]

So $22.50 for HRB vs $39.99 for TurboTax (for the Fed + State version). Is there anything special about TurboTax to make it worth the extra cost? It’s almost twice as much. I’ve used both packages over the years and can’t say I’ve ever really noticed much difference.

If you’ve tried both and didn’t notice any difference I’d say you’ve answered your own question. My experience is the exact opposite of Runningbum but I guess my return is less complex. Going forward I’ll stick with HRB. I took advantage of the Amazon deal and installed the program. Already I noticed HRB imported last years TT return more easily than importing my ‘19 HRB return into TT.

 

[sengsational]

I did my pro-forma taxes, and wanted to print it out without the annoying overlays that obscure the data. This still works:

H&R Block plasters a "draft form" message 4 times per page, oftentimes obscuring the values on the form. I wrote a quickie for myself, and figured I'd let the folks here use it (if they trusted me to run code on their machine). All this does is read a PDF and remove any text larger than 16, writing out to a separate file.

You put the HRBlock.pdf in a folder with RemoveBigText.exe, then run it with an output file name:

RemoveBigText HRBlock.pdf HRBlockCleaned.pdf

If you code yourself, I'll give you the source code.

ETA: Should I try to get this running on Andriod?
ETA2: It's a few lines of Java that I pretty much lifted as-is from StackOverflow.

 

[5Miler]

Bought the 2021 Turbo Tax Premier w/state download PC/Mac version on Walmart.com today for $59.98 after I saw that Amazon went back to $69.99 for the download version and $ridiculous for the disc version.

I have used HRB in the past but elect to use Turbo Tax as the savings isn't worth it to me. DGF has some self employment income I have to figure every year and Turbo Tax premier lets me get it done by manually filling in the needed forms. HRB, not so much. Or at least, not so easy.

 

[JoeWras]

I did my pro-forma taxes, and wanted to print it out without the annoying overlays that obscure the data. This still works:

Everyone using HRB: this is gold, courtesy of sengsational.

It works. Use it!

 

[Choosehappy]

Turbotax CD is available

I just saw that Turbotax Deluxe fed/state CD is now available on Amazon. https://www.amazon.com/gp/product/B09CHRHJ8T/ref=ox_sc_act_title_1?smid=ATVPDKIKX0DER&psc=1

 

[COcheesehead]

Certain account levels at Fidelity get free state and federal versions of TurboTax.

 

[travelover]

Certain account levels at Fidelity get free state and federal versions of TurboTax.

I've had 7 figures there for a long time and have never gotten anything except a solicitation for additional services at additional costs. What's the minimum?

 

[COcheesehead]

I've had 7 figures there for a long time and have never gotten anything except a solicitation for additional services at additional costs. What's the minimum?

The offer is on your summary page and usually only lasts for a few weeks. Some miss it. This chart posted in the link below shows the various levels of accounts and what they get. I know folks with big accounts that don’t have many trades that just call and get the free offer.

https://www.fidelity.com/trading/active-trader-trading-service-levels

 

[Al in Ohio]

I would've thought the Federal Office of Personnel Management had high security too, yet China got personal details on many citizens with security clearances. Still I e-file every year.

My understanding is that many private corporations are more secure than many governmental agencies with exception of military sites and perhaps the IRS.

 

[Al in Ohio]

I've had 7 figures there for a long time and have never gotten anything except a solicitation for additional services at additional costs. What's the minimum?

It’s one million.

 

[braumeister]

AFAIK there is nothing automatic about Fido's free Turbotax offer.
Many in the Private Client category get it, but many don't.
I think it varies by who your local rep is, and what he or she wants to do.

What makes me think that is that some years ago I was in for a meeting with my rep and I asked about it since I had learned from this forum about some people getting the offer.
His response was "Oh, sure. I didn't know you used it, so I'll put you on the list."

Ever since that time, I've had the offer every year, so I'm inclined to think there is just a special list, and asking to be put on it may or may not work.

 

[robls]

AFAIK there is nothing automatic about Fido's free Turbotax offer.
Many in the Private Client category get it, but many don't.
I think it varies by who your local rep is, and what he or she wants to do.

What makes me think that is that some years ago I was in for a meeting with my rep and I asked about it since I had learned from this forum about some people getting the offer.
His response was "Oh, sure. I didn't know you used it, so I'll put you on the list."

Ever since that time, I've had the offer every year, so I'm inclined to think there is just a special list, and asking to be put on it may or may not work.

If you want the TurboTax offer, you have to be persistent with Fidelity.
Call your Client Representative.
If that does not work, send a "Secure Message" to Fidelity through their contact page, asking for "Goodwill" to pay for it.
My spouse and I have received $100.00 goodwill to our Joint Savings account each year to pay for TurboTax.

 

[travelover]

If you want the TurboTax offer, you have to be persistent with Fidelity.
Call your Client Representative.
If that does not work, send a "Secure Message" to Fidelity through their contact page, asking for "Goodwill" to pay for it.
My spouse and I have received $100.00 goodwill to our Joint Savings account each year to pay for TurboTax.

I probably stepped in in. My client representative cold called me sniffing around for revenue opportunities and I told him to leave me the hell alone.

Anyhow, I paid a whole $17 for H&R Block again, so I'll just turn down the heat a little this winter to pay for it.

 

[eytonxav]

Fidelity TurboTax Offer

I am not seeing any free TurboTax offer on Fidelity's page this year, only $20 off. Is their offer coming later or not at all this year?

 

[braumeister]

I am not seeing any free TurboTax offer on Fidelity's page this year, only $20 off. Is their offer coming later or not at all this year?

If they do it, it's normally mid-December. So I would expect it next week (if I'm lucky).

 

[braumeister]

Threads merged.

 

[mrfeh]

If they do it, it's normally mid-December. So I would expect it next week (if I'm lucky).

+1

I don't think I've ever seen it offered in early December.

 

[COcheesehead]

If I remember correctly, it usually pops onto your summary page right before Christmas.

 

[explanade]

I am not seeing any free TurboTax offer on Fidelity's page this year, only $20 off. Is their offer coming later or not at all this year?

Last year I never saw the offer on the Fidelity account page.

So I was just going to take the $20 discount offer and when I clicked the link and then logged into Turbo Tax, I put it in the cart and it showed $0.

 

[Al in Ohio]

I am not seeing any free TurboTax offer on Fidelity's page this year, only $20 off. Is their offer coming later or not at all this year?

It is too early.

 

[Al in Ohio]

Tax software deals

If I remember correctly, it usually pops onto your summary page right before Christmas.

Correct. It’s automatic under 2 conditions. You are in the Private Client services group ( 1 million or more invested) and you notice the link on you summary page in late December/ early January before it disappears.

Now it’s not automatic, but given as a reimbursement into your Fidelity cash account if you and your immediate family members combined investments are somewhere between 500k and higher and you ask your rep for it.