#*$ taxes! Software vs Paper

foxtrapper wrote: ..I'm trying to like TaxAct because it's far cheaper, but it's got a few major bugs with how it's handling some of the data...

Please expand on this, I am considering it for this year.

NGTD wrote: TurboTax. I have kids and can do my wife's and mine in a couple of hours. Just saw it at Costco for $29 (in Canada). It steps you through everything.

Since it sounds like you are in Canada it may be different, but in the US it many times is not that simple. Yes, for simple returns, you can use the cheap version of TurboTax and in some cases there may be free versions of other products available for that. With TurboTax though, if you have this exotic thing, known as a Stock Sales (you may have to look that up, but it's when you sell stocks ), TurboTax REQUIRES you have the Deluxe version (!?!?!), which of course is something like $70-80, not including state. This is pretty silly.

I have READ that you can get away with not using Deluxe for stock transactions, but it's a bit unclear and they seem to be cutting things out of the lower versions by the year (you did not have to use Deluxe previously).

As RX mentioned, I find it HIGHLY irritating that he IRS is CLEARLY aware of 90% or what you are supposed to owe, and yet makes you jump through hoops and waste a bunch of time just so they can justify the millions they received in bribes... uhm, I mean campaign contributions / lobbying from Intuit and their "family".

I used FreeTaxUSA the last few years and didnt have any real complaints.

aircooled wrote:

foxtrapper wrote: ..I'm trying to like TaxAct because it's far cheaper, but it's got a few major bugs with how it's handling some of the data...

Please expand on this, I am considering it for this year.

+1, have a return 95% done in TaxAct waiting for one last form.

Not too much comment here on the paper option.

I'll be using an accountant, but filing paper. No electronic filing for me, since someone has already filed a fraudulent electronic return in my name.

aircooled wrote:

foxtrapper wrote: ..I'm trying to like TaxAct because it's far cheaper, but it's got a few major bugs with how it's handling some of the data...

Please expand on this, I am considering it for this year.

1. It's not transferring a W-2 line entry because it cannot recognize the description. I've tried all the description variations I can come up with, including what they call it, but it will not recognize the description. Therefore it flags the entry as erroneous and ignores the monetary value.

2. It is not correctly handling my state return. We have county and town taxes here. It incorrectly zero's out the county tax if I tell it I do not live in a town. It only shows the county tax if I tell it I live in a town, which I do not. It then includes the town tax which I do not actually owe.

3. I can't figure out what it's doing with itemized deductions, other than to say it's making a thorough hash of them. Particularly charitable contributions. It seems like it's trying to double crediting them, but I cannot really figure out what it's doing so I can't fix it.

4. The overall interface is darn clumsy. Clicking something like the "mortgage" button does not send you into the mortgage worksheets, it just gives you a series of vague descriptions and then returns you to where you were. You instead have to carefully drill down through the forms via the federal return tabs. Which still doesn't always get you to where you want to get too. Turbotax and HR Block far exceed it on the interface.

I always had good luck with TurboTax back in the day, but I stopped using it in 2010 as my MIL does my taxes. I was always surprised about the little things that TurboTax would remind me I could write off. Things that even my accountant MIL forgets about.

foxtrapper wrote: 1. It's not transferring a W-2 line entry because...

OK, thanks for the reply. I guess the good thing about TaxAct is that you can try it and see if it works before you pay. Of course, you still have to do the work.

I think TurboTax would be good if there a deductions that may not be obvious (it presents a lot of options), but I never seem to have any of those anyway. TurboTax also (not sure about the other yet) seems to be pretty good about being able to auto download / fills some of the areas (stock transactions etc.). I just keep getting the feeling I am paying way to much for it (as mentioned I tend not to need a lot of the options).

My W-2 seems to have loaded correctly, but that is really weird. Now that you have mentioned it, tonight I think I'll go back and review the Schedule A itself. TaxAct wants you to pay before they'll show you the PDF though, which kind of blows.