In the section regarding sale of your primary residence, TurboTax prompts you for all sales and purchase information, followed by question of how long you lived in your house. This question should be first in this section. The next question should be whether it is possible that you had a 500K or greater profit on the sale after all costs are deducted. THEN, based on these replies, TurboTax can take you through all the prompts regarding sales price, costs, basis, and improvements, etc. I'm guessing the vast majority of homeowners wouldn't need to go through the cost itemization.
What's not so great: section should start with the questions that were posed last
Most of the items are pretty self explanitory but there are a few things that the program could do better. -entering S-corp data has some issues after the main k-1 form for non-resident state income and taxes paid -why cant the help items have a hyperlik to the IRS site and the appropriate publication to let you read more without having to search independantly
What's great about it: easy to determine what to enter where generally, i like the rollover from previous years it saves a lot of time
What's not so great: retired clergy housing exclusion completely missed, can't enter more than 3 other states from K-1 form
I've used TurboTax for several years. It is easy to use; very intuitive. I particularly like the interview style which covers every topic quite satisfactorily for my income sources and tax liabilities. TurboTax will definitely be my tax preparation software for future years.
I have used TurboTax since 1996, and have been very pleased. I literally looked forward to preparing my returns.
I am experiencing a "Life Change" (not listed by TurboTax below) -I retired at the end of 2013. I also received my first RMD from my retirement funds, because I turned 70 1/2 in 2013. TurboTax handled the RMD fine.
There were some minor items that were frustrating: 1) Sales tax deduction calculation not available. 2) Alternative calculation of depreciation on rental property that I have owned since 1997 (not presented in prior years). 3) Printing tax forms @ end didn't allow side-by-side format. 4) Requiring mailing of Fed & CA tax forms when I am E-filing.
What's great about it: Easy to follow format, concise directions, appropriate explanations when needed.
What's not so great: Sales tax deduction not available. Depreciation calculation for rental prop. more complicated.