I have W2, 1099, rental property and retirement income. The system cross contaminated sole proprietor automobile business expenses into rental property expenses which was not caught in the review process. I caught it when I reviewed the print version prior to submission.
I chose to e-file. There was an expense to e-file in Maryland. The system would not allow me to deduct the filing fee from my Maryland refund because I owed taxes at the federal level.
What's great about it: Smooth
What's not so great: Cross contamination of some data.
I am a financial planner in my day job so I need to have a good understanding of how taxes work and do my own taxes so that I have a better understanding about taxes in general. For the previous 2 tax filings I have used turbotax online and it was not a good experience. Neither me nor my wife are eligible for a 401k plan so can make a deductible IRA contribution even though we are high income earners. I would record my contributions as deductible and verify it before filing. Once filed the contributions would be converted to non deductible within turbotax. It would require that I file an amended return to reflect that the contributions were deductible. This situation happened 2 years in a row. As evidence that this happened, turbo tax refunded my fees for tax filing both years. This year I researched other tax filing programs and decided that turbotax was still the best for my situation since all of the reviews of other providers seemed to have similar issues. I used the desktop version this year and had no problems. I will certainly use it again next year.
What's great about it: Detailed Interview Process to make sure you don't miss something
What's not so great: Detailed Interview Process to make sure you don't miss something
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion), I bought or sold investments
This software always gives me what I need. The only problem I have had in the past few years is in dealing with an estate inheritance and how to process the sale of the house regarding the value. Had to find information elsewhere. Usually, people are thrown into this type of situation and unfamiliar with how to record. It would be helpful to have a walk through on all types of estate inheritance situations that could arise.
What's great about it: Like how user friendly it is.
What's not so great: Need more info on how to deal with estate inheritance.
I have been using Turbo Tax for years now. There is no better satisfaction then doing the daunting task year in and year out yourself. I like the fact that I don't have to divulge my personal information to a tax preparer. I like the fact that I can be sure all deductions have been taken, and have been checked. That alone is worth it. I will always do my own taxes and Turbo Tax will be my software of choice.
What's great about it: Knowing all deductions have been taken and checked.
Most of the real work is getting all the receipts compiled before starting TurboTax. Quicken updates of all accounts including categorizing all transactions steadily through the year helps. Even with all this help, it still takes lots of time to prepare complex returns. But it beats the alternatives.
What's great about it: Intuitive easy to understand question and answer format
What's not so great: Arcane rare special circumstances may still need professional review
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion)