I have used Turbo Tax for many years and this year secondary to health problems and extended family needs I got started very late and thought that I might have to file an extension but finished 2 1/2 hours before the deadline. So now I breath a sigh of relief and get on with my life and try to do better at organizing my files. I remember the years when it was an awful experience. I also use the NEAT machine which also lessened my time.
The tax code is complicated, so there are many menus and many questions that get asked for each possible scenario that could be pertinent, even though most are not. TurboTax does a nice job of alerting you as to what the normal and common answer to each question usually is.
What's great about it: Alerts as to the immediate impact of each input on your total tax due
What's not so great: The tax code is complicated
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion)
I have Quicken set up so that I easily get the totals I need to fit into Schedules C & F. Takes about two hours to completely do a farm and two businesses.
What's great about it: I really like the questionaire approach
My CPA has never requested the information for allowable deductions that the prompts on Turbo Tax have suggested.
With the information provided from Turbo Tax, I feel confident my return is accurate, complete, and my deductions have given me the highest return possible.
The details from the Audit Tool gave the best advice for organizing documentation in the event of an audit.
What's great about it: User friendly, fast, and comprehensive.
What's not so great: Unable to find answers to an few questions.
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion)
There are still problems present with some of the carry-in capabilities from one year to the next. The programming for this should be simple, so having such problems seems sloppy. An example is one of the prior year values for a traditional IRA, where the program only brought in the prior year value (i.e., from 2012) and lost everything before that. This means lost time for me, since I will have to go back into the previous year's records and determine what the value should be. I am not pleased about it...
What's great about it: Quite a bit of logic has been applied to try to minimize needed user input, it would appear.
Could be easier to correct mistakes like wrong passcode for electronic W2.
Also warn of impending paperwork before filing, like needing to mail forms. This could change some decisions before they lead to needing to mail anything - and needing a checkbook...
What's great about it: Simple
What's not so great: Could be easier to correct mistakes like wrong passcode for electronic W2