Tax software functionality and deals

zaqxsw said:
Wow, what a journey on this thread and Fidelity's website! I can hardly believe how hard someone made it to download the free TurboTax Premier from Fidelity! Amazing!

The Fidelity rep. I've talked to doesn't know anything about this. I have no idea what qualifies you. I have more than $1MM with Fidelity.

Thanks go to Cobra9777, Al in Ohio, and audreyh1 for their posts. They guided me to the free download. It is not an easy trip! Sorry if I missed anyone.

This post is dedicated to LarryMelman. Larry, I appreciate your thanks, but I've blocked you for so many reasons.


FREE TURBOTAX FROM FIDELITY


1) Go your Fidelity home page and scroll down to the bottom left corner to see the TurboTax Premier offer. Click on “Get started now”.

2) Scroll down to Premier and click on “Learn more” under Premier.

3) Click on the drop-down menu “ File your own taxes” | “CD/Download products” | “Compare all products”. Choose Premier at $0 and click on “Buy now”.

4) A popup window appears where you select your operating system. It then shows “You added these products” listing Premier at $0. Click on “Continue”.

5) You enter your personal information and download.

Merry Xmas to all!
Click to expand...

I'll type this s-l-o-w-l-y in the hope that you read it.

I DO NOT HAVE THIS OFFER ON MY FIDELITY HOME PAGE.

If you have it, then goody-goody for you. But I don't. I have explained why multiple times.

"I appreciate your thanks, but I've blocked you" :confused: Who exactly are you in this thread? You made one post several pages ago, and it had nothing to do with me.
 
LarryMelman said:
But someone here posted that the only benefit of Premier over Deluxe (for me) was handling ESPP stock sales a bit better.
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That might be me. I get Premier for handling of ESPP shares. Once I don’t have ESPP, I’ll happily get Deluxe instead.
 
tulak said:
That might be me. I get Premier for handling of ESPP shares. Once I don’t have ESPP, I’ll happily get Deluxe instead.
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Hmm, I'm kind of depending on the brokerage to sort out ESPP, which I got years ago.

But I think they retain the cost basis of each lot.
 
explanade said:
Hmm, I'm kind of depending on the brokerage to sort out ESPP, which I got years ago.



But I think they retain the cost basis of each lot.
Click to expand...


I’m skeptical it’ll be that simple. I did my taxes by hand for years before trying TurboTax, at which point I learned that I wasn’t handling ESPP shares correctly. A long time ago, I knew what I did wrong, but I’ve forgotten the details. I now rely on TurboTax and use their guide to enter ESPP shares, even though I still review the forms before I submit them to the IRS.

It’s been my experience that downloading ESPP from your brokerage doesn’t work, or at least it’s never worked for me.

And it’s not just the cost basis you need to track. You also need to track the discount on the shares and some other stuff. But this might only apply to short-term ESPP holdings. I never hold ESPP shares long-term and I know there are tax advantages to doing so. As I said, I don’t remember all the details, but I know there are a number of caveats when dealing with ESPP.
 
Jerry1 said:
Not to me. I think if I had more than a million at Fidelity, I get on their butts and get the free Turbo Tax. Squeaky wheel system.
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I have just under 1.2 million at Fidelity, & all I'm eligible for is 20% off.
It's strange how back in 1999, when I 'only' had between 100 & 200k there, they sent me a free copy TurboTax. I believe they did that for a total of 4 years

For me, it's not worth the time to try and haggle with them. Besides, I switched to H&R Block a couple years ago & have no complaints.
Life's too short.
 
500 trades per year to be a VIP. Who does that much trading? I bet almost nobody on this forum would hit that number. I could easily go an entire year without doing a single trade.
 
I'm eligible for the free TT Premier, but I would have never found the download version without this thread, so a big THANKS! They seem to hide it better every year:D
 
Turbotax is trying to shepard everyone into the online version, to snoop on you.
 
Ok I have this offer on my Fido, good deal.

BUT... (and no sorry I'm not reading 16 pages), I take it this doesn't work for business income? Any chance that's an add on product vs buying a whole package with TT? Like..I can use the free offer but pay for an extra module for that part? (schedule C I think).

Have never used TT, we've always done TaxAct.
 
Qs Laptop said:
I've been using H&R Block Deluxe+State for years. Thinking of switching to Turbo Tax because of the ability to import 1099s from Fidelity. In order to import 1099s from Fidelity I would need to purchase Turbo Tax Premier edition? Is that correct? Otherwise, if I get the Turbo Tax Deluxe I will need to manually enter the 1099 information?

Also, what is the feature in Turbo Tax that allows you to do "what if" scenarios when trying to decide whether or not to sell taxable investments? (Or to figure out how much you can sell and remain in particular tax bracket?) People typically do this "what if" planning once they get their estimated capital gains and estimated dividend distribution numbers, i.e. they are doing it right now.
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Seems like your question was lost in the tit-for-tat going on over an expense that lands in the zone of .%0.1 of a typical day's portfolio gain.

So... One method is to do a "what if" aka pro-forma. You copy or re-save your return with a new name that makes it clear it is an estimate not for filing. Then open it up and adjust the numbers and examine the results.

This works well if you don't have major changes between years.

You also have to be aware of tax law changes. For example, a lot of inflation adjusted changes are occurring for 2021 filing. They won't be in an estimate using 2020 software. And beware, even if you buy 2021 software to do the estimate, not all the changes are in it until 2021 comes along and they do dynamic updates.
 
Hmm it sounds like if it were just revenue/profit/income, I can do it, but I have expenses to offset, so... no?

If you have business expenses to report, you'll need TurboTax Self-Employed or TurboTax Live Self-Employed to file a Schedule C.

If you don't have business expenses to write off and need to file a Schedule C, you can use TurboTax Deluxe, TurboTax Live Deluxe, TurboTax Premier, or TurboTax Live Premier.
 
That's what they would like you to think.
But long ago when I was doing some consulting I filed Schedule C every year with all that entailed -- all my expenses included. I even used just Deluxe then, and never had an issue.

Even if they have changed things since then (and I doubt it) there is always an option to upgrade from within TT if you need to.
 
Last time I checked, TurboTax Deluxe did support all the forms, including Schedule C. There were two differences with the more expensive Premier and Business versions. First, the lower version didn’t have the step by step question help, the user needs to fill out the form directly, without assistance. Second, because the form is filled out directly, the TurboTax tax guarantee doesn’t apply.

Personally I think the TT tax guarantee isn’t worth anything because there are well documented cases of Intuit failing to pay or only paying when forced to by legal action.
 
It sounds similar to 1099s and Deluxe. Deluxe is fine, but they try to upsell you to Premium because it has "Additional Help"
 
I have a small home-based business and I use TT Premier, it does everything I need for my business taxes. As well as the rest of personal taxes incl investment stuff.
 
<mod note> Can we please drop the discussion about Fidelity and how some customers qualify for a free copy of TurboTax?

Let’s get back on topic, which is tax sw offers and functionality. :greetings10:
 
RetiredAndLovingIt said:
Well no Turbo Tax boxing day deal like Amazon has had in past years, it looks like the best deal is $49.95 for TT Deluxe.
I've got it sitting in my cart waiting for a price drop, maybe tomorrow...
Click to expand...

My records show that it has occurred on the 27th in the past. Hold tight.
 
RetiredAndLovingIt said:
Will do but I checked my order last year and I ordered on the 26th.
The total was $42.30 including tax and a $10 Amazon gift card.
Inflation has increased the price on everything else so will not be surprised if we don't get the same deal.
Click to expand...

It does not appear that Costco has started their sale early, as they usually do. But it's in their circular that starts later this week. Definitely no reason to buy now before the inevitable sales begin. Also, inflation does not appear to be affecting software prices.
 
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