2024 Tax Software

[Midpack]

"Love it" in an absolute sense, or "love it" relative to other tax-prep software you've used over the years? I ask because I'm on the fence about whether to switch to TT from H&R Block this year. H&R is usable and gets the job done, but I would never go so far as to say I love it.

I enjoy doing taxes, to see if my ongoing tax planning is correct - and I love it when it is. I've been happy with TT for over 20 years, and saving a couple bucks a year on some other tax package isn't worth it to me. I tried another package a while ago, and went right back to TT.

Got your brokerage statements (1099 INT/DIV) already? Or, did you just use the number from your records.

My Vanguard consolidated 1099 DIV/INT was online 1/28 and I had our SSA, 1099R's and other docs before that. I don't wait for, or want, paper copies from anyone FWIW. I know some here prefer snail mail docs and that's fine.

 

[RunningBum]

I finished my taxes earlier this week. I've got one 1099-R that probably won't come until March, but it's for SPIA payments out of my Roth. It'll be the exact same as last year and won't have any impact to my taxes, so I entered it in myself. I haven't filed yet, because I haven't yet fully reviewed everything, but doubt I'll have any changes. The only new thing this year is that I sold some baseball cards and went over the $600 Paypal goods & services threshold for my state so I got a 1099-K. I followed TT's lead on how to report but I'll have to make sure I did that right, and that I didn't miss anything else.

 

[ShokWaveRider]

I finished our last week also. I downloaded all the 1099s from the respective websites. I am very happy with H&R Block's ease of use. Easily comparable to TurboTax that I have used for the last 10 years.

 

[RunningBum]

I got 2 letters from the IRS after using H&R Block in 2016, and had to file amended returns for both due to omitted forms or info on my return. Seeing a letter from the IRS in my mailbox immediately causes my BP to jump, and filing amended is no fun. Not worth saving $10 or $20 to me. One was due to recharacterizing a Roth conversion, which is no longer allowed, and the other had to do with the foreign tax credit, which I no longer take but I'm not going to take a chance again. I also didn't like a couple things about how the pdf was formatted and how they buried the worksheet for calculating your tax with dividends and cap gains. Maybe one year TT will mess things up and I'll give up on them too, but it's been good every year for me.

 

[sengsational]

It's a false equivalency; airline fares and tax programs can't really be compared in any meaningful way. That said, I bet I'm not alone in resenting the very fact of having to pay money to compile a return for taxes we didn't like paying in the first place! Whereas, business class travel can be fun.

Right. Money might be fungible, but that doesn't mean we act like homo economicus. Saving a few bucks on tax software is fun. Blowing the dough on business class tickets is fun. That explains it: we do what's fun.

 

[camfused]

Beware of a bug in TT. I was doing my 1099s. I have 2 INTs from the same bank, same as last year. I did one, and decided to come back later to do the other. I then entered (imported) some DIVs. TT took the total value from one of the DIVs and also entered it in for the value of the INT that I had skipped earlier!

Moral of the story: check everything, and don’t assume it imports correctly.

 

[Texas Proud]

Heck, I have not even taken a look at any tax software...

I have a K-1 from a Sub S and never get it before mid March now that I no longer do that return...

I just keep putting anything I get in a folder and will deal with it then... and usually a sale on software will happen...

 

[ponyboy]

Cash app tax. Completely free. Been using it for years.

 

[GenXguy]

Cash app tax. Completely free. Been using it for years.

Yeah, I mentioned Cash App earlier. It would save me $10 vs. my OLT due to the state e-file charge with OLT unless you mail the state, but I don't know if it's worth changing to something different to save $10.

 

[qwerty3656]

"Love it" in an absolute sense, or "love it" relative to other tax-prep software you've used over the years? I ask because I'm on the fence about whether to switch to TT from H&R Block this year. H&R is usable and gets the job done, but I would never go so far as to say I love it.

Not OP, but FWIW, I've been using both TT and H&R Block for the last few years (bought H&R and then got TT free from Fidelity - I got hooked on filling out both and so I do it every year). I personally like H&R block better. TT has this tendency to ask for too much information when it's not needed and it gets annoying.

 

[braumeister]

Not OP, but FWIW, I've been using both TT and H&R Block for the last few years (bought H&R and then got TT free from Fidelity - I got hooked on filling out both and so I do it every year). I personally like H&R block better. TT has this tendency to ask for too much information when it's not needed and it gets annoying.

I always use TT, but tried HRB a couple of times just to try it out. Strangely, they use different rounding conventions, and both times I used it, HRB had me paying two or three bucks more in tax than TT did. Most likely it was pure coincidence that the numbers worked out that way, but I was a bit annoyed and haven't bothered with it for some time now.

 

[flyingout]

Finished my Fed and state tax returns today using TT. Love it!

Nice. You've encouraged me to start my procrastination early this year.

 

[frank05]

TurboTax has less care than previous years. Noticed when importing from financial sites their list have several entries with “test” in the name and one entry at the list top being a long string on numbers and characters.

 

[EQMAN]

Finally contacted Fidelity to see if I was still a valued client that qualified for the tree turbotax offer. Although my account balance has increased the criteria this year requires that I have 72 trades, at least $500k as I am self directed and have not spoken with an advisor in years. I know it is a losing game to time the market and am on ACA so living off cash balances to qualify for maximum subsidy. Subsidy is much greater than the free turbotax and with 72 trade criteria it is not worth it to me to game the system to qualify under the current criteria.

 

[Al18]

This is the first time I’ve ever seen a Fidelity requirement listed for the free TurboTax. Thanks for the info.

 

[JoeWras]

Nice. You've encouraged me to start my procrastination early this year.

LOL! It took you 7 years from registering to your first post. Now that's some procrastination.

Seriously, though, welcome to the discussion and your first post.

 

[RetiriusMinimus]

got free the past 5 years - this year though it's only 30% off. I don't do a lot of trades... oh well, it's not much money in the overall scheme of things.

 

[Sunset]

Normally I use H&R block, but this year am switching to TT with the hope it does foreign tax carryover while still allowing e-file (H&R block does the carryover, but have to mail it).

I've done my first simple return (for relative), and I imported the old H&R block 1040 pdf return (had to resave it as 1040 and not 1040R).
Then picked full interview.

The full interview was pretty exhaustive which was good, but had a few quirky things, mostly how to add another stock sale (didn't import) that I figured out.

It also asked lots of questions including did person have Canadian RRSP / RRIF income, which I've never seen H&R block address.

Overall, I'd say the interface was smoother and just seemed to be better designed software (popping up help). I thought to myself, "this is why some people pay double the H&R block price."

 

[GrayHare]

a new STT (Stupid Turbotax Trick) this year is that rotating the mouse wheel up scrolls some screens up and scrolls other down

 

[audreyh1]

Normally I use H&R block, but this year am switching to TT with the hope it does foreign tax carryover while still allowing e-file (H&R block does the carryover, but have to mail it).

I've done my first simple return (for relative), and I imported the old H&R block 1040 pdf return (had to resave it as 1040 and not 1040R).
Then picked full interview.

The full interview was pretty exhaustive which was good, but had a few quirky things, mostly how to add another stock sale (didn't import) that I figured out.

It also asked lots of questions including did person have Canadian RRSP / RRIF income, which I've never seen H&R block address.

Overall, I'd say the interface was smoother and just seemed to be better designed software (popping up help). I thought to myself, "this is why some people pay double the H&R block price."

The year we had a foreign tax credit carryover, yes TT handled it and we efiled. Midpack may have run into a foreign tax credit form delay or bug one year but it got resolved by the time we used the software.

 

[Dimsumkid]

Finally contacted Fidelity to see if I was still a valued client that qualified for the tree turbotax offer. Although my account balance has increased the criteria this year requires that I have 72 trades, at least $500k as I am self directed and have not spoken with an advisor in years. I know it is a losing game to time the market and am on ACA so living off cash balances to qualify for maximum subsidy. Subsidy is much greater than the free turbotax and with 72 trade criteria it is not worth it to me to game the system to qualify under the current criteria.

I'm in a similar situation, don't trade enough. I was told I needed to add a Private Wealth Mgmt advisor (Fidelity dropped mine 4-5 yrs ago), $2 mil in non retirement assets and total household assets $10 mil+. It took 15 days after my advisor meeting for the system to pick up the advisor addition and I finally qualified for free Turbotax. These are the new requirements if you don't trade 72+ times.

 

[flyingout]

LOL! It took you 7 years from registering to your first post. Now that's some procrastination.

Seriously, though, welcome to the discussion and your first post.

I was surprised when I saw that was actually my first post. I honestly have lurked quite regularly.

 

[Midpack]

Finished my Fed and state tax returns today using TT. Love it!

eFiled Fed and state, both accepted within and hour. Earliest ever. Thought I’d get it done in case the administration starts messing with the IRS.

 

[braumeister]

I'm in a similar situation, don't trade enough. I was told I needed to add a Private Wealth Mgmt advisor (Fidelity dropped mine 4-5 yrs ago), $2 mil in non retirement assets and total household assets $10 mil+. It took 15 days after my advisor meeting for the system to pick up the advisor addition and I finally qualified for free Turbotax. These are the new requirements if you don't trade 72+ times.

As previously noted, what they might tell someone is just something to get the person satisfied. The actual criteria are a complete mystery. I definitely don't meet any of the conditions you mentioned, except for being Private Client, and yet I always get the offer.

 

[cathy63]

I usually wait to the deadline to file. Why give Uncle Sam my money sooner. Example. I owe $5000. I keep that in a fixed account paying close to 5%. $5000*.05*.25(quarter of the year)=$62.50. Just payed for my TT.
Unless of course you're getting a refund. But that means you gave the money to US earlier in the year and didn't get the return on that either.

That's fine as long as you met the safe harbor and won't owe a penalty on any of the $5K underpayment. If you do, the current interest rate you'll be paying to Uncle Sam is 7%.