I went through my federal return many times and was not given the option of entering depletion allowance on royalties. there was no form 535. After filling out my first state returned I returned to federal with all of my figures calculated and a written explanation to the IRS, and then, there was the box I had needed. It was confusing!
What's great about it: Cost effective. Convenience at home.Most questions easy to follow.
What's not so great: Too much time locating my depletion allowance.
Regarding cons: I made some changes to my self-employment data. My tax due increased suspiciously. When I just ran through the entire dialogue again, without making any changes, things fell in place correctly. It seemed as though the initial changes did not propagate through the system properly, and I needed to "shake things up" to ensure correct propagation.
Regarding my review title: It took me 16 hours to do my and my wife's joint taxes. I am self-employed, my wife is an employee and we have normally diversified investments (nothing exotic). I consider myself quite capable with computers and well organized. I have been a Turbotax user for many years. 16 hours seems outrageously long to me. Turbotax is better than doing paper forms, but still far from easy enough for the average citizen. I don't know: should I blame Intuit or our governments (at all levels)?
What's great about it: Good import of W2 and 1099 data from financial institutions via Internet
What's not so great: Making changes after the first pass through can get confusing. Not all consequent changes happen automatically.
I've been using TurboTax for a long time, and it gets better every year. Usage is very intuitive (at least for how my intuition works). I like how I can move back and forth between being babied through the procedures and filling in the forms on my own. Downloading data from a financial site is a snap. And I appreciate the capability of bringing forward my information from the previous year. TurboTax is five stars all the way for me.
What's great about it: Really easy to use, accurate
Running through the step-by-step interview I entered my HSA contribution and my Federal Tax Owed amount went up! After I recovered I realized that Turbo Tax hadn't asked me if I had a High deductible Health Plan yet. Sure enough, when I continued it asked me if I had an HDHP. Asking me that first would seem more logical
Overall, an entirely pleasant experience. The simple Yes/No questions and step-by-step process helped me go from start to finish in under 30 minutes. The only detractor is the language used by the IRS to describe some deductions. There is a difference between the 401K deductions through your employer and personal IRA's that is not clearly defined and can be confusing.
The login dialog for downloading transactions will not allow you to drag-and-drop passwords. So instead of safely and securely dragging my generated password from the password store I trust I had to show the password and manually transcribe the password by reading it and typing what I read. Okay that was only marginally less secure - but why make me do it? Not to mention generated passwords are not very readable so it took me several attempts as I confused various letters and digits.
What's great about it: Less painful to download than to manually enter
What's not so great: Download was clumsy and less secure than i would have liked
I file a return for 2 states (resident/non-resident) and Turbo Tax does not advise on which return I should complete first before moving onto the next state.
What's great about it: Electronic filing makes things easier
What's not so great: editing form can be a bit confusing.