2022 Tax Program Deals

[nwsteve]

Thanks. I think in some community property states (TX?), the survivor gets step-up on 100% of the house. And yes, I'm planning to use the property tax appraisal. They are generally fairly close to FMV in Texas, or at least that's the intent.

Also, I would think I can only count improvements after the step-up date, but not sure. So again, since I've never done this before, I think it would be advisable to use the guidance in Premiere.

I agree in most community property states, you will get step up on full basis not 50%. As far as valuation, and improvements you have two different determinations. Valuation is usually Fair Market Value at date of passing--not all state's use FMV for assessed value (usually some percentage) so check what your state's property tax rules are--county assessor can advise.
When you are dealing with improvements, prior to date of death it does not matter as the step up to fmv establishes the new basis going forward. Improvements following death may be capital or expense of sale both deductible if done usually in the immediate 12 months following death.

 

[Amethyst]

I was advised to get a house appraisal for the day of husband's death (last Dec 25). While I disliked paying $750, I'm glad I did, because Florida house values are doing what they always do - dropping fast after a big run-up. While I don't want to move, sooner or later I'm sure I'll be forced to do so.

In my experience, FL county appraisals run low - another reason to pay for a private appraisal.

You are correct on step up from FIL death for 50%(?) of interest of property. Key is your appraisal at time of death. While probably not accurate and likely low, your county's property tax appraisal will at least give you an approximation. Improvements are still deductible as long as considered capital improvements like major remodels, HVAC, etc.

 

[jim584672]

Newegg.com has a promo code coupon on H&R Block 2022 Tax Software. I just downloaded the Deluxe + State 2022 PC/Windows for $19.99.

Deluxe 2022
Physical Key Card $14.99
PC/Window Digital Download $14.99
Mac Digital Download $14.99
w/ promo code HRBL22

Deluxe + State 2022
Physical Key Card $19.99
PC/Windows Digital Download $19.99
Mac Digital Download $19.99
w/ promo code HRBL23

Premium 2022
Physical Key Card $29.99
PC/Windows Digital Download $29.99
Mac Digital Download $29.99
w/ promo code HRBL24

Premium & Business 2022
Physical Key Card $39.99
PC/Window Digital Download $39.99
w/ promo code HRBL25

 

[Sunset]

^^^^^^^^^ You beat me to it !!

Seems like I could have saved $2 by waiting..... still haven't installed the software I bought as don't have all the data yet.

 

[Spanky]

Is H&R Block software similar to Turbotax in terms of ease of use?

 

[Sunset]

Is H&R Block software similar to Turbotax in terms of ease of use?

Yes.

I used to use TT, and switched when TT tried the "pay for common form" scam/stunt years ago.

The H&R can probably import your last year's TT tax file or PDF tax return.

 

[Spanky]

Thanks. I will give it a try.

 

[JoeWras]

Comparing H&R Block and Turbotax

I wrote up a detailed comparison and people contributed more thoughts at this thread here:

https://www.early-retirement.org/fo...x-deluxe-and-h-and-r-block-deluxe-108001.html

FYI: I am sticking with Turbotax, but would happily use HRB if that was all I could use. It is perfectly fine and I understand why some people stick with and even prefer HRB.

New data I didn't have in that thread: I'm not sure how HRB does amended returns. Turbotax was a huge help for me last year when I had to amend. It was perfect and no charge to resubmit electronically.

 

[Jerry1]

Agree with JoeWras - I prefer TT but HRB is totally acceptable. The main reason I use TT is force of habit. I’ve always used TT - like always. I remember getting it on a floppy disk. So, I’m much more comfortable with it. I actually bought and will use HRB this year because the number of return I do for family and a few friends has gone over 5, so I needed another option. I’ll do the easy ones on HRB. It will be easier than what I did last year which was to find and use the free software for the easy ones. The easy ones are the kids of a good friend and they’re just simple 1040’s.

I would not worry a bit about using HRB.

 

[ncbill]

I've used H&R Block Deluxe to help family with personal returns.

But when I had to file trust/estate returns I found the more expensive TurboTax Business worked much better than H&R Block Premium & Business.

 

[Sojourner]

Newegg has a great deal on H&R Block 2022 Deluxe + State software right now. It's a $34.99 bundle that includes a $20 e-gift card of your choice from various places, like Lowe's, Uber Eats, Starbucks, Chipotle, Disney, etc. Works out to just $15(!) for the H&R software, which is the lowest I've ever seen.

Here's the link: https://www.newegg.com/taxsoftware/EventSaleStore/ID-10670?sdtid=16394062

 

[CincyDave]

Got the free turbo tax from Fidelity for past couple years, but like several others on here, now only have the $20 off offer. Called them and was first told by the rep that I qualify and could submit for reimbursement, but when she checked with the "back office" she came back and said I only qualify for the $20 off. I asked what the qualifications for the free offer was she didn't know and the "back office" doesn't speak directly with clients.

So the mystery of who gets the free offer continues. Nothing has changed on my account other that I noticed I no longer have an assigned advisor. Used to have one which I never used, but somewhere along the line they took him away. Wondering if having an assigned advisor is the deciding factor. on the summary page where the advisor used to be shown, it know says "Fidelity Premium Services" Frustrating!

 

[audreyh1]

Yes, it’s the assigned advisor/representative. Establish another relationship for the future - you could maybe call and ask what happened to the person assigned to you.

 

[qwerty3656]

Nothing has changed on my account other that I noticed I no longer have an assigned advisor. Used to have one which I never used, but somewhere along the line they took him away. Wondering if having an assigned advisor is the deciding factor. on the summary page where the advisor used to be shown, it know says "Fidelity Premium Services" Frustrating!

FWIW, I don't have an assigned advisor and I got the deal. Mine says "Fidelity Active Trader VIP"

 

[craigbro63]

Newegg has HR Block Deluxe for $15 without State right now, code is on the site for the special price.

 

[audreyh1]

FWIW, I don't have an assigned advisor and I got the deal. Mine says "Fidelity Active Trader VIP"

Active trader is a different category that usually qualifies.

 

[audreyh1]

We missed out for a year or two due to having lost our assigned representative. No big deal as we simply bought Deluxe at a discount. Then one fall got a cold call from a Fidelity person offering to assign himself to our account. Accepted and thereafter the perk was back.

 

[CincyDave]

We missed out for a year or two due to having lost our assigned representative. No big deal as we simply bought Deluxe at a discount. Then one fall got a cold call from a Fidelity person offering to assign himself to our account. Accepted and thereafter the perk was back.

Thanks. Thought that might be it. He called me a few times wanting to manage account for a %. Told him wasn't interested. I'll just look for a deal on Deluxe.

Newegg has HR Block Deluxe for $15 without State right now, code is on the site for the special price.

Been using turbo tax for a long time, and am used to it, so don't really want to switch and learn something new at this time, but thanks.

 

[audreyh1]

Thanks. Thought that might be it. He called me a few times wanting to manage account for a %. Told him wasn't interested. I'll just look for a deal on Deluxe.

Been using turbo tax for a long time, and am used to it, so don't really want to switch and learn something new at this time, but thanks.

We have never paid for account management. You can still have a representative assigned with no fee requirements. Our only “obligation” to maintain the relationship is a phone chat every year or so.

 

[FlaMariner]

Minor discounts for buying TurboTax

$5 off TT if you sign up for the BankAmeriDeals thru BofA online and use your BofA credit or debit card to buy TT.

1,000 Southwest Rapid Rewards miles if you go thru the SW Rapid Rewards site and choose TT when you pay.

Both expire 4/18 and both can be used on one same purchase.

(Perhaps this should be in the cheap finds thread also)

 

[CincyDave]

Looks like the fidelity offer will get me Fed Deluxe for $29. I'll just do state manually.

 

[Healthy Lifestyle]

Would you use an accountant to do your Taxes?

Should I pay 250 dollars this year to do my Federal and 3 state tax returns, because of the extra expense for each state tax filing.

I use TT, the total cost would be about 110-130 dollars to buy the software and electronic filing plus the 3 state tax returns.

Is it worth my time and hassle, or pay to get it done?

What do you all think?

Appreciate your thoughts, thanks.

 

[Lawrencewendall]

For anyone interested, I called TaxAct and they gave me 30% off telephone purchase of the download version. TaxAct Premier (to handle my K-1) 5 free federal e-files and 1 state e-file for $104 before tax. I use the free federal e-file for family and friends and just print the pdf for them to snail mail.

 

[jimbohoward69]

Got HRB Deluxe w/State for $20 through Newegg. I just finished compiling both my federal and state but haven't filed yet...filing federal is free but filing state (IN) has a $19.95 fee?!! I guess the "with state" means you're able to calculate your state taxes w/their SW but can't file it for free (unless I'm missing something). I don't see anywhere on the state filing page to enter my activation code or anything like that. SMH.

 

[nico08]

I need to use TurboTax Deluxe with State efile.

If I use the Fidelity or T Rowe Price discount, I believe the cost would be $68 ($29 for Deluxe + $39 for State with e-file). Does that sound right?

It looks like Amazon's price for TurboTax Deluxe is $44.99 and I believe the TurboTax state e-file fee is $19.99 (but I may be wrong about this), bringing the total cost to $64.98.

So are you finding the best current price for TurboTax Deluxe with Federal and State e-file Amazon's price of $64.98?

TurboTax doesn't clearly show the state e-file fee. I live in New Jersey.

Thank you.