TT and Vanguard

[braumeister]

I was told by Fidelity that I would qualify for free TurboTax, but that it was only the on-line version this year, not the desktop version (download/CD), and that it would not be available until January.

Fidelity always does it in January. Last year was the first time I got the freebie, and my rep just gave me the secret code that let me download TT for free. I'll be asking him again next month.

I think this sort of thing varies by what your local rep thinks is best. Mine does other things that mean more to me (both financially and intrinsically), so that's a consideration. Basically, I think if you have a dedicated personal rep at any firm, it's worthwhile cultivating a relationship with him or her and seeing what might develop.

 

[samclem]

I did mention to them that I thought that taking away such a visible perk that probably cost them nothing for regular investors and maybe $20 for the top customers was not a smart decision... I think that the negative feelings will cost more than the dollars saved....

Intuit has betrayed my trust on two separate occasions. Vanguard shouldn't shackle themselves to them.
And if it costs Vanguard >anything<, then I don't want them offering a discount on tax software, underwear, car insurance, or anything else--cut the ERs of their funds instead, or use the money to improve service in some way. If it costs them something, then it costs >me< something (since I own the company, like anyone who has Vanguard funds).

Vanguard should stick to the core business and keeping their reputation unsullied. It has worked for them so far.

 

[nwsteve]

I was told by Fidelity that I would qualify for free TurboTax, but that it was only the on-line version this year, not the desktop version (download/CD), and that it would not be available until January.

FWIW, I purchased my copy from Amazon and emailed the receipt to my Private Client Rep, and got a credit for it in my account the next day.
Even though we are Private Client we get few bene's as we live in a rural area and our nearest Fido bricks and mortar location is 300 miles away. Perhaps, they feel, it is a pittance given some of the other bene's our more urban "cousins" receive. I have also given my rep some major grief over some of the flaws in the newly released version of RIP, so maybe so "make nice"
Nwsteve

 

[RetireAge50]

I'm surprised people expect Vanguard to buy 3rd party software and give it to some shareholders for free. Should they buy Microsoft office, IPads, and Amazon gift certificates too?

Makes no sense to me. If you want a product buy it yourself.

 

[ejman]

I'm surprised people expect Vanguard to buy 3rd party software and give it to some shareholders for free. Should they buy Microsoft office, IPads, Amazon gift certificates too?

Makes no sense to me. If you want a product buy it yourself.

Of course you are right. However, there are some folks here that have $ millions + in Vanguard and it always seemed "nice" to get the TT "perk". Is the absence of such a thing going to make me pull my funds out of Vanguard? of course not. And it has been pointed out, most everything Vanguard does to lower costs ultimately benefits me in the way of lower fund fees. I already bought TaxAct anyway...

 

[target2019]

I'm surprised people expect Vanguard to buy 3rd party software and give it to some shareholders for free. Should they buy Microsoft office, IPads, and Amazon gift certificates too?

Makes no sense to me. If you want a product buy it yourself.

People expect it because it was stated as a feature when they signed up.

I don't recall MSO, ipad or Amazon certificates appearing in the list of features, so I would not expect that to be offered fro free.

 

[Texas Proud]

Intuit has betrayed my trust on two separate occasions. Vanguard shouldn't shackle themselves to them.
And if it costs Vanguard >anything<, then I don't want them offering a discount on tax software, underwear, car insurance, or anything else--cut the ERs of their funds instead, or use the money to improve service in some way. If it costs them something, then it costs >me< something (since I own the company, like anyone who has Vanguard funds).

Vanguard should stick to the core business and keeping their reputation unsullied. It has worked for them so far.

I do not think that the folks that were not at the top of assets (Flagship) just got a discount and it cost Vanguard nothing.... and the Flagship customers might have cost them a few dollars, but not that much IMO...

If they had never offered it, I would agree with you... however, it was a bene and now it is not... there is some 'cost' to that decision.... they probably do not care, but it can be the start of something if other benes go away....

 

[JoeWras]

Intuit has betrayed my trust on two separate occasions. Vanguard shouldn't shackle themselves to them.
And if it costs Vanguard >anything<, then I don't want them offering a discount on tax software, underwear, car insurance, or anything else--cut the ERs of their funds instead, or use the money to improve service in some way. If it costs them something, then it costs >me< something (since I own the company, like anyone who has Vanguard funds).

Vanguard should stick to the core business and keeping their reputation unsullied. It has worked for them so far.

+1.

I need to write my rep and tell them this is a smart decision.

And for those mad about this, it is a free market. Move to Fidelity. Vanguard is too big anyway.

 

[JoeWras]

People expect it because it was stated as a feature when they signed up.

I don't recall MSO, ipad or Amazon certificates appearing in the list of features, so I would not expect that to be offered fro free.

I gotta tell you... I see a lot of ER folks here have really good benefits in their ER through their employer. They were very fortunate to get ahead of this current wave of "taking stuff away" such as health insurance, DB pensions, etc.

When your DB and health insurance which was "promised" to you gets taken away or ripped apart, you'll feel some pain. For those who never went through this, consider yourself fortunate.

Let's just say it toughens you up a bit when a little $60 perk disappears on your Vanguard account.

 

[target2019]

I gotta tell you... I see a lot of ER folks here have really good benefits in their ER through their employer. They were very fortunate to get ahead of this current wave of "taking stuff away" such as health insurance, DB pensions, etc.

When your DB and health insurance which was "promised" to you gets taken away or ripped apart, you'll feel some pain. For those who never went through this, consider yourself fortunate.

Let's just say it toughens you up a bit when a little $60 perk disappears on your Vanguard account.

It does remind me of megacorp. Each year you lost something because a bean counter lost count! BTW, I'm not one who lost anything because VG cancelled the TT feature. I was not a member of that club.

I didn't lose much from megacorp either, except a 10-year job. The pension was unavailable to me, but got a decent match each year, and maxed contributions to 401(k).

 

[Fedup]

I've used the free TT on Vanguard once, after that I only purchased from Costco at a discount. The reason is when I want to access my tax records or return for that year, it was gone. I rather have the software to be able to go back. Turbotax is not the best software anyway, I know that because I e caught multiple errors, serious error on many occasion. But I use it to keep track of my math. When I found an error I return the software with full refund, no problem, so I get it free anyway. I've got full refund on the software for 3 years. But I've paid for some years before that, so it's not totally free.


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[Texas Proud]

I've used the free TT on Vanguard once, after that I only purchased from Costco at a discount. The reason is when I want to access my tax records or return for that year, it was gone. I rather have the software to be able to go back. Turbotax is not the best software anyway, I know that because I e caught multiple errors, serious error on many occasion. But I use it to keep track of my math. When I found an error I return the software with full refund, no problem, so I get it free anyway. I've got full refund on the software for 3 years. But I've paid for some years before that, so it's not totally free.


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You could have the desk top version if you wanted.... I still have my tax programs for the last 5 years on my computer.... I can look at my tax return PDFs anytime, or go into the program and look at what I input...

First 3 H&R Block and last 2 TT....

 

[Fedup]

I used it a long time ago, back in the 90s, not sure if the desk top was available yet.


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[zedd]

I've used the free TT on Vanguard once, after that I only purchased from Costco at a discount. The reason is when I want to access my tax records or return for that year, it was gone. I rather have the software to be able to go back. Turbotax is not the best software anyway, I know that because I e caught multiple errors, serious error on many occasion. But I use it to keep track of my math. When I found an error I return the software with full refund, no problem, so I get it free anyway. I've got full refund on the software for 3 years. But I've paid for some years before that, so it's not totally free.

I'm curious. What kind of errors did you find with TT?

 

[Fedup]

One was dealing with rental property. I called them and they admit they didn't have it. The following year or after they had a different version for rental properties.
The other one is to deal with self-employment tax with 1099 form. Those were the two I remember specifically. Others were forms that I couldn't access, it was blocked out. But I can't remember which form.


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[Ready]

Turobtax will be $10 off at Costco beginning 12/29. The online price for Deluxe is $49.99, so with the discount it should be $39.99. I'm not sure if the stores also sell it for $49.99 or not. In the past, I seem to remember the stores being a few dollars less since they don't have to include the shipping costs. In any case, it's not a huge discount, but I'd rather pay a few dollars more than give my credit card information to a potentially pirated software web site.


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[Midpack]

Turobtax will be $10 off at Costco beginning 12/29. The online price for Deluxe is $49.99, so with the discount it should be $39.99. I'm not sure if the stores also sell it for $49.99 or not. In the past, I seem to remember the stores being a few dollars less since they don't have to include the shipping costs. In any case, it's not a huge discount, but I'd rather pay a few dollars more than give my credit card information to a potentially pirated software web site.


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The Costco discount for Deluxe (w or wo State) is $10. But for Premier, Home & Business, or Business the discount is $15 FWIW. But then if you're eligible, you probably already know.

That's still $54.85 for Premier after $15 discount vs $29.99 for TaxAct Plus (desktop) - functional equivalents. Might have to try TaxAct despite years of TT...guess I got spoiled by "free TT."

 

[easysurfer]

The laziness in me has me sticking to TT this year. My understanding is that TaxAct doesn't automatically import data from VG is one reason I'll be sticking with VG. Did I mention about being lazy?

 

[easysurfer]

... But next year, I may not be so lazy and go with Taxact.

 

[samclem]

The laziness in me has me sticking to TT this year. My understanding is that TaxAct doesn't automatically import data from VG is one reason I'll be sticking with VG. Did I mention about being lazy?

The H&R Block program imports from TT with no problems. IMO, it provides all the ease-of-use of TT and at lower cost. Without the hoops and without "unexpected" corporate shenanigans.

 

[REWahoo]

The H&R Block program imports from TT with no problems. IMO, it provides all the ease-of-use of TT and at lower cost.

This was also my experience when I used it a few years ago.

 

[Midpack]

The laziness in me has me sticking to TT this year. My understanding is that TaxAct doesn't automatically import data from VG is one reason I'll be sticking with VG. Did I mention about being lazy?

That's a good point. Here is what I found on the TaxAct site, very limited compared to TT.

Import transactions directly from GainsKeeper®, TD Ameritrade™, ShareBuilder®, Form8949.com, Raymond James®, Betterment, or a Comma Separated Values (CSV) file provided by your brokerage or TradeLog®.

 

[GTFan]

I just go on Slickdeals and get a deal for H&R Block Deluxe+State for $15 or so every year. Includes 5 fed e-files and 1 state.

Here's the current link:
H&R Block 2015: Deluxe+State=14.95, Premium+State=24.95, Premium&Business=39.95. All include Federal AND State FREE eFile. - Slickdeals.net

 

[Done]

I was told by Fidelity that I would qualify for free TurboTax, but that it was only the on-line version this year, not the desktop version (download/CD), and that it would not be available until January.

The Fidelity offer is online: free TurboTax 2015 Premier to certain premium clients. Not sure exactly what service tier qualifies. To check if you have this offer, log in to Fidelity and go to Guidance & Retirement -> Taxes. Everyone should see an offer "Save on TurboTax" for $20 off, BUT some also get a special offer on the right side "TurboTax Online Premier: Receive a free federal tax return with e-file."

If you have the free offer, click Learn More and then you'll have the option to file Online or Download (click See Products). Premier is free and other versions are discounted. The download includes 5 federal e-files and one state download. State e-file costs $19.99 (free for NY) or you can print and mail the state return.


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[audreyh1]

Turobtax will be $10 off at Costco beginning 12/29. The online price for Deluxe is $49.99, so with the discount it should be $39.99. I'm not sure if the stores also sell it for $49.99 or not. In the past, I seem to remember the stores being a few dollars less since they don't have to include the shipping costs. In any case, it's not a huge discount, but I'd rather pay a few dollars more than give my credit card information to a potentially pirated software web site.


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Yes, the in store pricing has been the same in the past.