Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Old 02-11-2024, 03:57 PM   #21
Thinks s/he gets paid by the post
 
Join Date: Jul 2014
Location: Undisclosed
Posts: 1,225
Quote:
Originally Posted by harllee View Post
I never download, I always enter my numbers manually. Just don't trust the download and don't want to enter my passwords.
+1
N02L84ER is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-11-2024, 04:15 PM   #22
Recycles dryer sheets
 
Join Date: May 2018
Posts: 165
I've had two issues with TT this year, the second of which motivated me to buy H&R's program. I was pleasantly surprised at how well H&R handled my less common, but certainly not unique situations. I may be a convert after 25 years with TT.
monte1022 is offline   Reply With Quote
Old 02-11-2024, 05:10 PM   #23
Thinks s/he gets paid by the post
rk911's Avatar
 
Join Date: Dec 2018
Location: DuPage County IL
Posts: 2,664
Quote:
Originally Posted by monte1022 View Post
I've had two issues with TT this year, the second of which motivated me to buy H&R's program. I was pleasantly surprised at how well H&R handled my less common, but certainly not unique situations. I may be a convert after 25 years with TT.
What were the issues? Others may benefit.
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Dispatcher, then shift supv, then administrator for a regional 9-1-1 call center
rk911 is offline   Reply With Quote
Old 02-11-2024, 06:02 PM   #24
Recycles dryer sheets
 
Join Date: May 2018
Posts: 165
The first had to do with confusion about adding my dependent's income to ours for ACA purposes. TT's explanation was unclear whereas H&R's was crystal clear including all of the times one would add a dependent's income complete with the actual income levels the would trigger the addition. There is a thread started by me earlier this week about this. The biggie came last night when I realized that DW had an excess HSA contribution in 2022. The tax owed box showed $9 before entering anything into TT, but after transferring last years data. TT handled the excess by trying roll it into 2023, therefore making the program think that we had a high deductible plan for 2023. For 2022, only DW had a high deductible plan. We actually had employer sponsored insurance for Jan, Feb, then a regular ACA plan through Dec for 2023. On error check I kept getting a question about whether this was an inherited HSA and another about who was covered by the non existent high deductible plan in 2023. This was the loop without a way out. Both errors prevented me from efiling. H&R took on the problem by asking very specific questions about coverage periods, HSA balances, etc making it obvious that the programmers had a clear understanding of excess contributions and how to handle them on tax forms. TT did not offer any explanation or solution to the problem.


PS. I started with TT deluxe and upgraded to Premier for $35 thinking that would help. $54 for H&R premium fed + state did the trick.
monte1022 is offline   Reply With Quote
Old 02-11-2024, 06:05 PM   #25
Full time employment: Posting here.
 
Join Date: May 2006
Posts: 841
Quote:
Originally Posted by frayne View Post
Does anyone else like to input the numbers manually these days?

I do because I don't trust turbo tax to have access to my brokerage account.
dmpi is offline   Reply With Quote
Old 02-11-2024, 06:11 PM   #26
Recycles dryer sheets
 
Join Date: Oct 2021
Posts: 72
Quote:
Originally Posted by dmpi View Post
I do because I don't trust turbo tax to have access to my brokerage account.
+1
MdaPetralia is offline   Reply With Quote
Old 02-11-2024, 06:29 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,756
We change the passwords before and after.
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 02-11-2024, 06:48 PM   #28
Thinks s/he gets paid by the post
rk911's Avatar
 
Join Date: Dec 2018
Location: DuPage County IL
Posts: 2,664
Quote:
Originally Posted by dmpi View Post
I do because I don't trust turbo tax to have access to my brokerage account.
+2
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Dispatcher, then shift supv, then administrator for a regional 9-1-1 call center
rk911 is offline   Reply With Quote
Old 02-12-2024, 12:34 AM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 17,152
I download everything and check to see if it is what I expect to see based on the 1099s...


Do you have to put in your password? I might not be remembering correctly but I think I just entered some number on the 1099... but could be completely wrong as I have done nothing for this year....
Texas Proud is offline   Reply With Quote
Old 02-12-2024, 05:32 AM   #30
Thinks s/he gets paid by the post
 
Join Date: Nov 2014
Location: Austin
Posts: 1,363
Quote:
Originally Posted by frayne View Post
Does anyone else like to input the numbers manually these days?
No.

But there is some data for which I have no choice but to manually enter. Examples include:
- my credit union
- Treasury Direct
- My (former) employer so that I can adjust the cost basis for every sale of shares from ESPP and RSU's

Otherwise, I much prefer to have everything automatically entered. Once I get to the end, I let it percolate for a couple of weeks. Then I sit down with my DW and we go over everything line-by-line vs. the paper copies I make. We've never found a mistake in automatically downloaded data, but there have been typos in the past with manually entered data.

Cheers.
big-papa is offline   Reply With Quote
Old 02-12-2024, 06:06 AM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2011
Posts: 8,307
I don't understand the hesitancy. You're entering your most intimate financial details: SS numbers, IRA account numbers, bank account numbers, HC information, ages, addresses, income and account balances, etc etc, yet you're worried about TT having the passwords to those accounts?

Someone evil at TT doesn't need your password to your brokerage.
You've already given them all the information they need to do a lot of harm!
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Old 02-12-2024, 06:46 AM   #32
Recycles dryer sheets
 
Join Date: Oct 2007
Location: Georgetown
Posts: 420
This thread has been eye opening for me; I had always thought the direct download from Fidelity was the big selling point. Ends up I take one number from 1099-INT; ordinary and qualified dividends from 1099-DIV; and amount of withdrawals from IRA on 1099-R. Only other number on our tax return are from wife's SSA-1099 and amount of my estimated tax payments. Since I always print out all the 1099s, it would be just as fast for me to enter manually.

Of course, at some point I will sell stocks or ETFs in taxable account and I will. have RMD from wife's non-deductible IRA so things will get tougher then.

Again, thanks for the insight,

Marc
__________________
"Adventure is just bad planning"

Roald Amundsen
Marc is offline   Reply With Quote
Old 02-12-2024, 07:53 AM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,301
Quote:
Originally Posted by Texas Proud View Post
I download everything and check to see if it is what I expect to see based on the 1099s...


Do you have to put in your password? I might not be remembering correctly but I think I just entered some number on the 1099... but could be completely wrong as I have done nothing for this year....
I downloaded VG a week ago or so and IIRC I got a number from VG which I entered in TT to authorize the download. I am waiting for Schwab to be ready for downloads and will see what they use.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
donheff is offline   Reply With Quote
Old 02-12-2024, 07:56 AM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: NC
Posts: 21,088
Quote:
Originally Posted by marko View Post
I don't understand the hesitancy. You're entering your most intimate financial details: SS numbers, IRA account numbers, bank account numbers, HC information, ages, addresses, income and account balances, etc etc, yet you're worried about TT having the passwords to those accounts?

Someone evil at TT doesn't need your password to your brokerage.
You've already given them all the information they need to do a lot of harm!
+1. Forest for the trees…
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 02-12-2024, 08:04 AM   #35
Recycles dryer sheets
 
Join Date: Oct 2021
Posts: 72
Quote:
Originally Posted by marko View Post
I don't understand the hesitancy. You're entering your most intimate financial details: SS numbers, IRA account numbers, bank account numbers, HC information, ages, addresses, income and account balances, etc etc, yet you're worried about TT having the passwords to those accounts?
Account numbers are optional so it's wise to not include this information (unless you are requesting direct deposit of your refund). Even though they know my address and other personal info, I don't want to give them the keys (i.e. userid/password) to my front door.
MdaPetralia is offline   Reply With Quote
Old 02-12-2024, 08:06 AM   #36
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 22,822
I do manual data entry, file by mail and keep paper copies of everything. I also calculate my taxes by hand and use that calculation to check the output of the H&R Block program. I have found errors in their program in past years and sent them emails about those (they all got corrected eventually). In fact, the only reason I use the computer program at all is to help ensure that I don't make a stupid math error or forget something.
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 02-12-2024, 08:13 AM   #37
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,398
Quote:
Originally Posted by audreyh1 View Post
We change the passwords before and after.
That’s what we do.
MichaelB is offline   Reply With Quote
Old 02-12-2024, 08:18 AM   #38
Thinks s/he gets paid by the post
latexman's Avatar
 
Join Date: Mar 2014
Location: Apex and Bradenton
Posts: 1,709
I did my taxes on TT Deluxe yesterday. Initially, it was telling me my refund would be equal to our taxable income. Then, I ran a review and found my mistake.
__________________
Good Luck,
Latexman
latexman is offline   Reply With Quote
Old 02-12-2024, 10:26 AM   #39
Full time employment: Posting here.
 
Join Date: May 2006
Posts: 841
My big concern with turbo tax is them knowing the balance of my brokerage accounts and the types of accounts I have. I do not want to be part of 'big data' where detailed records are kept on everyone and used for marketing and sold around the Internet. Also Turbo Tax can be 100% innocent but they can have all their data stolen by someone else. For me it's not worth the risk. I'll just enter in my own data.
dmpi is offline   Reply With Quote
Old 02-12-2024, 10:31 AM   #40
Thinks s/he gets paid by the post
 
Join Date: Nov 2011
Posts: 3,842
Quote:
Originally Posted by marko View Post
I don't understand the hesitancy. You're entering your most intimate financial details: SS numbers, IRA account numbers, bank account numbers, HC information, ages, addresses, income and account balances, etc etc, yet you're worried about TT having the passwords to those accounts?
If you use an online version that's certainly a risk, but many tax packages let you work offline to avoid that risk.
GrayHare is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
If You Have Savings In Your 20s, You’re Doing Something Wrong FI by 2024 Other topics 21 09-19-2015 09:19 AM
"I'm doing good or "I'm doing well" David1961 Other topics 32 07-16-2014 05:33 PM
what do you tell ppl when they ask what youre doing after you "early retire"? retiringat50 Life after FIRE 57 03-15-2008 12:09 PM
Doing what you are supposed to? Cut-Throat Other topics 13 02-23-2005 04:14 PM
So How Are You Doing in 2005? rsboone FIRE and Money 13 01-17-2005 07:14 AM

» Quick Links

 
All times are GMT -6. The time now is 03:16 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.