Review Tuesday: Turbotax

Since TAX SEASON ends tomorrow, I thought I'd post my thoughts regarding the tax software I've been using on the side for friends and family, the INTUIT line of tax preparation software, TURBOTAX.

INTUIT has a very complete line of products for the home tax preparer. You can take a shot at preparing tax returns on your own, for a reasonable fee.The trouble is, there are so many versions, it's hard to tell which one you might actually need. 

The easiest selection is the one for corporations and partnerships. There is only one option. You buy the program, you have to pay separately for each state and city, and also to e-file. They get you coming and going. If you have a NYC corporation, it could run you around $200 for your returns. 

Much more difficult is figuring out the options for personal tax returns. Any version you buy comes with the federal. One version gets you ONE free state. The trick is what is involved in your particular personal tax return? Do you have an unincorporated buinsess, aka Schedule C? You need one version for that. Do you have stock trades? You need a different version for that. Do you have rental real estate? Guess what? 

If you get the premium version you have access to all the options, but everything requires downloads.

The Turbotax step by step method of data entry is slow and tedious. It's annoying and cumbersome. They do have an option to see the form view, which helps when the program refuses to work with you, but it's still not great.

This is far from a professional edition, but will get the job done. Unless you have more than FIVE returns to do. That is the limit for the software. Then you have to register as a tax preparer and use a different version. If I wanted to take that route, I'd get something better and more efficient. If your tax-pro is a fan of Turbotax, you might need to look for a new tax-guy.

Bottom line, not great, but will get the job done. 

Check it out on AMAZON