Clarifying the cons: 1- For Canadians; there is no specific place to report the funds received from Quebec (for pension) or the Canadian Federal Pension. Under Foreign funds received there should be a subset dealing with pension money received as opposed to RRSP AND RRIF (which are dealt with).
2- re/ IRA contribution: This year, when I attempted to contribute IRA money, my tax due increased!. Turbo Tax just say that I am not entitled to contribute IRA but without explanation.
Please arrange to address the two above points. Thanks Regards, MB
What's great about it: EASY TO USE, ATTEMPT AT THOROUGHNESS
What's not so great: 1- No specific place for Canadian pension funds rec'd. 2- No explanation for increase in taxes with IRA added!!
My 1099-R showed no entry for line 14 -- State Distribution, but this flagged an error since line 12 -- State Tax Withheld showed $2,000. The stated error was "State tax withheld must not be greater or equal to state distribution." Only when I forced line 14 to be the same as line 1 would the return be accepted for electronic filing.
What's great about it: It adds the numbers correctly and generally moves things into the right places.
What's not so great: I had trouble opening tax year 2012 to get a 1099-ES for filing on January 15, 2014.
Last year after filing my taxes, I experienced a computer crash because of a bad memory slot
Because I had performed a backup using Norton 360 Backup, I believed that I would be able to recover my Turbo Tax File for 2012. It was not possible to recover my saved Turbo Tax file because Norton Backup does not recognize the Turbo Tax file extension.
This made completing a 2013 Tax Return more work than I bargained for.
What's great about it: Accurate and affordable.
What's not so great: Cannot be backed up using Norton Backup.
As usual, TurboTax is amazing!! It took me only 35 minutes to do my taxes!! That's awesome, considering I am a full time working mom of two. I've used TurboTax for several years, so my information is already mostly entered. Just a few clicks, and presto! My return is on it's way!
What's great about it: Quick quick quick
What's not so great: Had to run the update to do my state sales tax