Turbotax treats fellowship income correctly from a income tax purposes, but for the life of me, I cannot figure out how to exempt it from SE tax as provided in Rev. Rul. 60-378 without going in an just overriding the amount. When you override the computation, you are unable to electronically file. Please figure out how to fix the SE issue on fellowships. Lots of poor college students receiving fellowships are probably pay too much in tax if they are paying the SE tax.
What's great about it: Easy to use & Carryover of annual data
What's not so great: If the program has to be overridden, you can't electronically file
Loved my experience with Turbo Tax this year! Last year we tried another tax service since we had some major life changes (moved across the country, started a business, and started working for Congress). We ended up getting surprised with a huge tax bill and were very upset with the competitor. I vowed to quickly return to Turbo Tax in 2013! As planned, I bought Turbo Tax–at over 80% less than our previous year's tax fees–and have easily filed our tax return in under 3 hours. We saved a ton of money and time!
What's great about it: Quick, intuitive, easy, and inexpensive.
What's not so great: Had a few problems with an unnecessary requirement to update.
I really appreciate the fact that I could complete my tax return at home and if I forgot some papers or receipts, I could retrieve them without making another trip down the road
What's great about it: -File at home - No figuring and getting confused - Able to go back and correct errors without a new form
What's not so great: - Must have last years info handy -Must understand all the current tax language
Have been using TurboTax for at least 14 years and have found it to be accurate, including a complete review before filing. This year lacked on opening the file each time asking if I want to get any IRS updates. Also, I need a special ID number as I had my identity taken for IRS purposes. The location to enter the ID number received from IRS is always difficult to find.
What's great about it: The ease of completing all required forms
What's not so great: Lack of having IRS updates found when opening TurboTax