I turned a family home into a rental property last year. TurboTax allowed me to incorrectly list mortgage interest, property taxes and expenses on the rental property schedule and as a regular deduction. Audit meter was very red, after removing one entry the audit meter dropped to medium.
Maybe next year, they will ask for mortgage interest, property taxes and expenses in one place, if it was a rental advise which method IRS recommends and which saves the most in taxes.
What's great about it: Still the best choice
What's not so great: Allowed sme expenses to be entered more than once.
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion), I moved
I have used TurboTax to file my dad's taxes for two years now. I also used the program to project how much I could pull from his IRA before it would be taxed. The ease of use and ability to test different income amounts helped me manage his income with fewer sleepless nights.
What's great about it: Easy to understand which expenses are deductible
What's not so great: Wish we could duplicate 1099 payor info for multiple entries
I've been using Turbo Tax for the last 13 years. Starting my own business in 2010, I still use Turbo Tax and am assisted with my CPAvwho assist with my business side. Together, they make a great team. My CPA knows what to look for, and I learn buy using Turbo Tax. However, I would not recomend using the down load version. I read too many negative stories and for that, I will stay with a hard copy disk.
What's great about it: Fast, Actuate, and easy to complete
What's not so great: None, however stay with Disk only
I've used TT numerous times over the years. This version was the easiest one so far. It just didn't seem as complicated as earlier versions. I felt like I understood more as I progressed through y returns.
What's great about it: moved a lot faster and was more clear than earlier versions
What's not so great: Had to go on-line for help
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion)