Best tax software this year?

[Electrode]

Topic and summary say it all. I don't care about spyware or system-trashing bugs, I'm going to be running it in a throwaway VMware box. That said, which is the best? Please post experiences.

 

[MrChad]

LOL, it's sad that you as a consumer have to qualify a "best tax software" post with "I don't care about spyware or system-trashing bugs." Just goes to show how much confidence the software industry is instilling these days.

 

[neit]

I myself don't use tax software, but do most of them offer some sort of efiling (which i presume is the most desired method of filing)? If you have spyware coupled with sensitive information... aren't you just begging for a world of hurt?

 

[MrChad]

Originally posted by: shahbazq
I myself don't use tax software, but do most of them offer some sort of efiling (which i presume is the most desired method of filing)? If you have spyware coupled with sensitive information... aren't you just begging for a world of hurt?

Yes, most offer e-file as far as I can tell.

To be fair, the scandal surrounding TurboTax wasn't related to spyware, per se, but rather Intuit's elaborate activation software, which embedded itself in the boot sector of your hard drive.

 

[Electrode]

An interesting discussion, but it doesn't answer my question. 🙂

 

[Drakkon]

if you have a lot of possible deductions i think tacut does the better job...if ur just looking for somehting simple and take a standard deduction then turbotax works.
Persoanlly i'd just go with whichever one u can get cheaper.

 

[MrChad]

Can you process multiple returns with the same copy of the software? For instance, my fiancee and I live together but we are still filing separately. Can we both use the same copy of TurboTax/TaxCut to process our returns?

 

[EagleKeeper]

Originally posted by: MrChad
Can you process multiple returns with the same copy of the software? For instance, my fiancee and I live together but we are still filing separately. Can we both use the same copy of TurboTax/TaxCut to process our returns?

Yes.

Only limitations that I have found over the years are
1) Most allow only a limityed number of filgins using your copy (~5)
2) Most will only allow a single state to be installed without paying for an additional license.

Both issues can be gotten around by either making an image of your system before installing the tax S/W and re-imaging after each limitation is reached.

Other option is to use a second system.

Both TaxCut and TurboTax have problems when filing a return that requires multiple states.

 

[AnyMal]

I have used TaxCut for number of years and really like it. It has a very intuitive interface, good built-in tutorials, e-filing is a synch, and State software is usually free AR and so is e-filing. So for roughly $20.00 you can have both Federal and State taxes prepared, plus Federal return e-filed, and get your money (with direct deposit) in about a week.

 

[MrChad]

Originally posted by: EagleKeeper

Originally posted by: MrChad
Can you process multiple returns with the same copy of the software? For instance, my fiancee and I live together but we are still filing separately. Can we both use the same copy of TurboTax/TaxCut to process our returns?

Yes.

Only limitations that I have found over the years are
1) Most allow only a limityed number of filgins using your copy (~5)
2) Most will only allow a single state to be installed without paying for an additional license.

Both issues can be gotten around by either making an image of your system before installing the tax S/W and re-imaging after each limitation is reached.

Other option is to use a second system.

Both TaxCut and TurboTax have problems when filing a return that requires multiple states.

Ugh, the multiple states limitation could be an issue. We both moved from Maryland to New York near the end of the summer.

 

[cappsa]

I've been using TurboTax for the Web for the past 3 years. One of my 401K companies usually has a discount of some sort(Fidelity or Vanguard). I like not having to install any software, and being able to access it from wherever. This will be the first year I do itemized since I bought a house, so we'll see how that goes.

 

[EagleKeeper]

Originally posted by: MrChad

Originally posted by: EagleKeeper

Originally posted by: MrChad
Can you process multiple returns with the same copy of the software? For instance, my fiancee and I live together but we are still filing separately. Can we both use the same copy of TurboTax/TaxCut to process our returns?

Yes.

Only limitations that I have found over the years are
1) Most allow only a limityed number of filgins using your copy (~5)
2) Most will only allow a single state to be installed without paying for an additional license.

Both issues can be gotten around by either making an image of your system before installing the tax S/W and re-imaging after each limitation is reached.

Other option is to use a second system.

Both TaxCut and TurboTax have problems when filing a return that requires multiple states.

Ugh, the multiple states limitation could be an issue. We both moved from Maryland to New York near the end of the summer.

Contact TaxCut or TaxAct CSR and explain the problem.

I know for certain that TurboTax can not handle multiple states. I ignored the smaller state in 2001, only worked for 3 months there and the taxes paid/withheld looked reasonable when I estimated it out.

 

[MrChad]

Originally posted by: EagleKeeper

Originally posted by: MrChad

Originally posted by: EagleKeeper

Originally posted by: MrChad
Can you process multiple returns with the same copy of the software? For instance, my fiancee and I live together but we are still filing separately. Can we both use the same copy of TurboTax/TaxCut to process our returns?

Yes.

Only limitations that I have found over the years are
1) Most allow only a limityed number of filgins using your copy (~5)
2) Most will only allow a single state to be installed without paying for an additional license.

Both issues can be gotten around by either making an image of your system before installing the tax S/W and re-imaging after each limitation is reached.

Other option is to use a second system.

Both TaxCut and TurboTax have problems when filing a return that requires multiple states.

Ugh, the multiple states limitation could be an issue. We both moved from Maryland to New York near the end of the summer.

Contact TaxCut or TaxAct CSR and explain the problem.

I know for certain that TurboTax can not handle multiple states. I ignored the smaller state in 2001, only worked for 3 months there and the taxes paid/withheld looked reasonable when I estimated it out.

Thanks. I may do my return manually again this year. It's pretty basic -- standard deductions, no taxable investments -- so 1040s are not that big of a deal. Still, it would be nice to file electronically to get my return faster.

 

[EagleKeeper]

Originally posted by: MrChad

Originally posted by: EagleKeeper

Originally posted by: MrChad

Originally posted by: EagleKeeper

Originally posted by: MrChad
Can you process multiple returns with the same copy of the software? For instance, my fiancee and I live together but we are still filing separately. Can we both use the same copy of TurboTax/TaxCut to process our returns?

Yes.

Only limitations that I have found over the years are
1) Most allow only a limityed number of filgins using your copy (~5)
2) Most will only allow a single state to be installed without paying for an additional license.

Both issues can be gotten around by either making an image of your system before installing the tax S/W and re-imaging after each limitation is reached.

Other option is to use a second system.

Both TaxCut and TurboTax have problems when filing a return that requires multiple states.

Ugh, the multiple states limitation could be an issue. We both moved from Maryland to New York near the end of the summer.

Contact TaxCut or TaxAct CSR and explain the problem.

I know for certain that TurboTax can not handle multiple states. I ignored the smaller state in 2001, only worked for 3 months there and the taxes paid/withheld looked reasonable when I estimated it out.

Thanks. I may do my return manually again this year. It's pretty basic -- standard deductions, no taxable investments -- so 1040s are not that big of a deal. Still, it would be nice to file electronically to get my return faster.

Prepare the Fed electronically.

Save a copy of the file, but do not transmit it until you look at the options below.

I would suggest that you then try MD on one system and NY on another, both using the part-time residency otpions and see how it handles it. Majority of the problem will be based on the state guidelines of handling credit for work in another state.

At worst case it will cost you 30 minutes per state to see what happens.
File paper for the states if needed. You should not attempt to file electronically for both states, that will create a duplicate entry for the Fed and raise some problems/flags.

 

[XBoxLPU]

I have and will file online. 1040EZ

Ah the life of a poor college student :/