Turbotax vs Turbotax

[mpeirce]

Two things keep me from completely ditching the Mac. Quicken and TurboTax.

Starting a new thread so as not to hijack the other one..

How does the Turboxtax application compare with the web version?

I've been using a CPA for taxes for a long time and since life is getting a little bit simpler I used the Turbotax website last year. Seemed to work well.

What are the advantages to the app?

 

[cbo111]

Never heard of the app. I'm intrigued

 

[audreyh1]

The TurboTax app I have used was very simple and only good for rough estimates.

 

[mpeirce]

So is maybe the reference to using Turbotax being better on a laptop referring to using it in a browser?

 

[Ready]

I’ve been using TurboTax for more than 20 years and have never used the web based version. I am not sure how it compares to the app though so I can’t answer the OP’s question.

 

[timo2]

I always used the CD version (I assume that's the app?) instead of the cloud (web) version. For privacy. Then two years ago the CD version began seizing up, wouldn't update, a plethora of problems. Help desk directed be to the cloud version for free, since the disk version was messed up. So I used that the last two years. I'm not sold on it. I was thinking of going back to the CD version. But if they don't keep that updated properly, I'm a little concerned about that.

 

[JustCurious]

Ditch Turbotax. Use Taxhawk, it's better and free for federal returns. Yes, it's free, and no, there is no catch.

 

[MuirWannabe]

I’ve used the web version for several years. Works fine for me. I think many people are concerned about data security and prefer the software on their computer. I’ve blindly trusted the web version to be okay in that regard, and as the optimist who jumped off the building said, so far so good.

 

[Midpack]

I can’t tell if the OP is asking about the CD/download version, the web version or the TurboTax app - there are at least three versions. I’ve only used the CD due to privacy concerns, it’s outstanding IMO. And I note the app does a lot of data mining, but not as bad as FB. I assume the web version does some data mining as well.

 

[donheff]

I use the download. I can't compare features to the web version but always assumed they are similar. The main advantage I see is that I can do multiple returns. I did DD's return for her for several years, now she does her own on my PC. I also have generated test returns to screw around with things and see if reality matches my assumptions.

 

[Dawg52]

I’ve used the web version for several years. Works fine for me. I think many people are concerned about data security and prefer the software on their computer. I’ve blindly trusted the web version to be okay in that regard, and as the optimist who jumped off the building said, so far so good.

I used the web version last year for the first time. Worked fine.

 

[RE2Boys]

By "app", are you referring two the smart phone version?? I've never tried it but I would not be suprised if that version whould have severe limitations as to the types of returns it can handle.
I've used both the CD/download versions and the web based browser version. They are essenially the same product but different marketing and pricing approaches.

With the web based version, you are only allowed to complete one return per account, so yuo pay several times for the software use if you do multiple tax returns. The CD/download version allows a virtually unlimited number of returns. However, you can only electronically file up to 5 returns. I regularly doe nine returns each year for family, but can only e-file 5, the others need to be printed and mailed. The CD /download version will not work on a Chromebook.

Last year I did my younger son's return using the IRS e-file and it worked great preparing federal, and two state returns. This year I will steer both sons and a nephew to the IRS free e-file service.

 

[CRLLS]

I’ve used the web version for several years. Works fine for me. I think many people are concerned about data security and prefer the software on their computer. I’ve blindly trusted the web version to be okay in that regard, and as the optimist who jumped off the building said, so far so good.

I too, have had the data security concern. That is why I have always used DC or downloaded TT (and others) software. The funny part is that I don't even think twice about filing the results electronically. I guess that would be me using "selective trust". There is probably no difference in security or lack thereof.

 

[lem1955]

I use the downloadable TurboTax for Home and Business because I am still self-employed very part time and also have investment property in another state. The software hasn't been perfect but I am sure it saves me money over using a paid accountant. I am doing more tax research in order to keep up with the past couple of years changes. Often it is my lack of knowledge, not the software that has me miss opportunities. I've had to file amended returns which is a pain but still gets me additional refunds. The pandemic has slowed the 2018 amended return refund. I'm thinking best to wait a while longer before calling again about it.

 

[Morgan22]

I've used the web version for many years until 2 years ago. I switched to the cd/download version to my laptop.
I made the change to cd/download because the last time I used the web version I needed to look at the forms to see what wasn't calculating correctly for the AOTC education credit I was expecting. The web version won't let you look at the forms until you file first.
I ended up just changing my answers on the education credit questions until I received the expected credit. (I calculate my taxes in excel first within a few dollars, so I know what I should expect for final tax owed/refund expected every year.)

 

[indiajust]

i always buy the CD. That way I can share it with windows and mac users alike, no harm no foul. It usually is cheaper that way too, for some reason. Over the years I am sure I have won them converts by sharing the disks as inadvertent marketing via word of mouth. I always get the investing version so I can import data clean and speed the process.

 

[marko]

Earlier, I used TT on disc. When I went to Chromebook about 7-8 years ago I couldn't upload/download it so I went to the web-browser version.

The only difference I found is that you can't do 'what if' scenarios--at least not easily-- on the web version. I'm not even sure if that's still a function on the CD version but that's the only difference I know of.

 

[retired1]

I've been using Desktop version. But new laptop does not have any CD/DVD drive any longer I guess web based version will be this year for me.

 

[Ready]

I've been using Desktop version. But new laptop does not have any CD/DVD drive any longer I guess web based version will be this year for me.

That’s not really the way it works. The software is the same whether you order a physical disk or just purchase a software download. It’s still the same application.

The web based version does not involve installing anything on your computer. It just uses a standard web browser to access the application on the TurboTax web server, and it also stores all of your data on their server instead of your local laptop.

 

[Major Tom]

Oh. I have always downloaded it, and didn't even realize there was a web-based version!

 

[pdxgal]

I use the downloadable TurboTax for Home and Business because I am still self-employed very part time and also have investment property in another state. The software hasn't been perfect but I am sure it saves me money over using a paid accountant. I am doing more tax research in order to keep up with the past couple of years changes. Often it is my lack of knowledge, not the software that has me miss opportunities. I've had to file amended returns which is a pain but still gets me additional refunds. The pandemic has slowed the 2018 amended return refund. I'm thinking best to wait a while longer before calling again about it.

FWIW I felt and did the same for years. Then the 2018 tax law and other life changes made things more complicated so I threw in the towel and used a CPA. I also have rental properties, including one out of state. I'd been paying about $300 income tax for that property when doing it myself. When the CPA prepared my taxes, there was no income tax due for that state! So I must've overlooked or not understood an opportunity there.

I believe the CPA's fees are largely offset by money he's saving me. At least for now. When my financial life gets less complex I may revert to doing my own taxes, but for now I'm glad to have a CPA, even though it initially went against my DIY frugal nature

 

[Sunset]

FWIW I felt and did the same for years. Then the 2018 tax law and other life changes made things more complicated so I threw in the towel and used a CPA. I also have rental properties, including one out of state. I'd been paying about $300 income tax for that property when doing it myself. When the CPA prepared my taxes, there was no income tax due for that state! So I must've overlooked or not understood an opportunity there.

I believe the CPA's fees are largely offset by money he's saving me. At least for now. When my financial life gets less complex I may revert to doing my own taxes, but for now I'm glad to have a CPA, even though it initially went against my DIY frugal nature

Maybe the CPA deducted the fees you paid

On a serious note, you could compare to the previous year and see what is the difference, since you are the person responsible to the IRS.

 

[Winemaker]

FWIW I felt and did the same for years. Then the 2018 tax law and other life changes made things more complicated so I threw in the towel and used a CPA. I also have rental properties, including one out of state. I'd been paying about $300 income tax for that property when doing it myself. When the CPA prepared my taxes, there was no income tax due for that state! So I must've overlooked or not understood an opportunity there.

I believe the CPA's fees are largely offset by money he's saving me. At least for now. When my financial life gets less complex I may revert to doing my own taxes, but for now I'm glad to have a CPA, even though it initially went against my DIY frugal nature

We live in PA, where pensions, SS, IRA and 401k distributions are tax free. We also receive rental income, which I manage to keep below $13,000, which is the poverty threshold, I believe, to have 100% income tax forgiveness. I found this out by Turbotax 7 years ago. One still has to file a return.
This also, eliminates income tax at local level.

 

[itsabouttime]

I like the web version where you can see what you did the previous year as you update the data for the current year. I use to use the software in a box version in the early days and you had to enter everything again.
There are some bugs in the software. I encountered one where I couldn't properly enter the cost basis for my company ESP properly because of the way they ask their questions; and I did get audited. Another item I noticed is that there were some entries that once you answer you can't update the recorded data on the form if you answer the question differently. I found these during the end part where the software reviews the return and then tries to get you to update that data. I can't remember the specific but I guess it was trivial enough as I didn't get a surprise audit; so far .

 

[Midpack]

I like the web version where you can see what you did the previous year as you update the data for the current year. I use to use the software in a box version in the early days and you had to enter everything again.
There are some bugs in the software. I encountered one where I couldn't properly enter the cost basis for my company ESP properly because of the way they ask their questions; and I did get audited. Another item I noticed is that there were some entries that once you answer you can't update the recorded data on the form if you answer the question differently. I found these during the end part where the software reviews the return and then tries to get you to update that data. I can't remember the specific but I guess it was trivial enough as I didn't get a surprise audit; so far .

You don’t have to re-enter anything.

I’ve been using TurboTax “in a box” for years, and it keeps absolutely everything from previous years and inputs data automatically - that’s one of the reasons I keep using TurboTax. It keeps personal data, W2 info, IRA non-deductible cost basis, fund IDs, carryovers, and much more - you just edit/add/delete as needed. It couldn’t be easier IME.