Overall, program does a good job with 35 Form 1065 Sch K-1 for Master Limited Partnership. However, the program does not do a good job with: (a) partial sale of units in a Master Limited Partnership (b) the distribution in excess of basis by a Master Limited Partnership and (c) the Foreign Tax Credit from a Master Limited Partnership. In addition need to add a worksheet that details how the Worldwide Gross Income is determined for Foreign Tax Credit purpose. It is hard to proof the number that the program provides in the Smart Sheet.
What's great about it: Handling 1065 K-1 very well
What's not so great: Foreign Tax Credt data from 1065 K-1 is hard to get into forms and it is hard to proof the Worldwide Gross Inccome
The state return glitched, I went out of the state return to look at something else, and then I COULD NOT get back. It kept wanting me to buy it, saying I have it, but I couldn't proceed forward. Extremely frustrating.
ALSO, I had the download version. I completed my federal taxes, went to class, and then came back to do my state taxes. But all the work on my federal taxes was gone. I had to re-enter everything. It would not accept information from the PDF I had saved of what was done before. Annoying.
What's great about it: Step-by-step is nice, and how they calculate tax refunds
What's not so great: Having to repeat steps a lot!! Not being able to go back
I have used Turbo Tax for about 10 years now, and I am also a tax professional and familiar with a lot of tax software. TT does a good job, and I like 2013 better than a couple of the previous years. I don't like how the forms are treated as an after-thought, in my opinion. Navigation is better this year. Overall, an excellent product.
What's great about it: Thorough, and has good explanations if you click on them. I like being able to choose whether to navigate myself or not
What's not so great: Getting to the forms to view them and see what is going on is just too much trouble. Please make it easier.