I use Turbo Tax every year for the last 5 years, starting with just using it to prepare for sitting down with my CPA to go over my taxes. It has been helpful enough, I'm doing my own taxes myself (God help me!), since he has retired, but I feel confident enough it has been developed enough.
What's great about it: Very easy Process and help files.
What's not so great: Need better explaination if given an error to understand what is 'really' missing!'
1) Wish I could see detail of previous years return when comparing - Hard to remember why I did what - had to open my file copy pdf and wade through forms until I found my place. 2) Felt abandoned when I got to special forms or circumstances - Hard to find my place and further info as to what I should put in the blanks or what additional forms were my responsibility. Found out my traditional IRA was not deductible but don't know if I need to inform IRS or if Turbo Tax did it. I think TT will track my non deductible IRA amounts but not sure and probably won't remember next year. 3# Moved home office mid year - Very confusing about what % to use for each office and had to figure out on my own how to adjust expenses between the offices #it adjusted gross receipts but left expenses up to me and didn't tell me that I was responsible to figure that out).
What's great about it: Knows most of what I need
What's not so great: Lack of detail of previous year; Abandonment on special forms
closed down a business mid year, created a problem in how self employment income was reported, thought it was in april, went to file in October and discovered it wasn't fixed, it was finally resolved with a down load of retail software which allowed separating how compensation was reported on 1099, it was somewhat disturbing that retail softwear was programed and the online didn't allow.
What's great about it: issues got resolved
What's not so great: was told it was resolved had to go back a second time before it was
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion)
i did my sons taxes in april and waited until oct to do mine. as soon as i opened it wants to download corrections. i do so and all of them were from janurary 2014. why didnt it do the update in april?
for mine they have messed up the hsa section which migrated the error to my state return. depreciation wasnt taken even though i entered the correct percentage. no option to apply refund to next years taxes for state filling. i will have to do all the forms by hand to get it right. for me it was a waste of money.
What's great about it: found some deductions i have missed in the past
What's not so great: too many errors have to get all the forms and do by hand