We really need reminding that for the year 2013 tax forms, the 1098T, a student graduating in May 2013 may see zeros on 2013's 1098T. That's because the prior year 1099T , in this case year 2012, already listed all tuition expenses for the upcoming spring 2013 semester.
Can't claim it twice, once for 2012 and once for 2013
Also if the student is moving immediately to grad school, say for Jan 2014 spring semester, there will be a 1098T issued in 2013 (not 2014) for that upcoming tuition expense. It gets claimed in 2013. This need serious revamping of the guided data entry process.
Help us to be not confused.
What's great about it: interactive step-by-step is always very helpful, and the Get Help is good
What's not so great: Does not do a good job explaining that the tuition expenses for last semester, spring 2013, was claimed in tax year 2012
In this and all the previous versions of the program I have to go back to correct information or add something that I forgot and the form does not look exactly as the first time. I had to do a revision on form 8863 and when I went back the help or guide me section where it told me where to look for the information was no longer showing.
What's great about it: A caveman, like my self, can do his own taxes.
What's not so great: forms do not fully reset when going back.
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion)
This is my 7th year using Turbo Tax. Why spend money with an accountant when I can do it myself with Turbo Tax! Thank you TT for making tax time relatively painless.
What's great about it: step by step instructions, ease of use.
What's not so great: waiting for the AZ tax forms to load