TurboTax
is consistently getting top rating from the software reviewers and those who use it to file tax return. Out of the four versions the TurboTax
Deluxe version is packed with features useful for tax filers who will benefit from itemizing their tax deductions. The software capture tax information using a series of interview questions and as you answer these questions, the software will help you identify the deduction opportunities based on your answer.
TurboTax
software is programmed to search over 350 often overlooked tax deductions which you may qualify. TurboTax can tell you how to qualify for just about any deduction, so you don’t miss any opportunities to save.
Who should Use it ?
Choose TurboTax
Deluxe version for if you itemize your tax return. For those who have significant investment income or rental property paying few more dollars for TurboTax
Premier version may be helpful. For sole proprietor, consultant, 1099 contractor, or single-member LLC, TurboTax
Home & Business can help you make the most of your business and personal deductions. TurboTax Business is the version to use for S Corp, partnership, C Corp, or multiple-member LLC. .
Features
The ItsDeductible tool can be used to find accurate values for charitable donations. These tools enhance accuracy of your tax return and help maximize your tax refund. A clean, responsive AJAX interface makes navigation through TurboTax easy. Deductions are grouped by category into a central list, allowing you to jump in and out of each section in the order you choose without losing data. A small gripe is that you cannot jump between individual forms, only sections, so trying to go back to a form that falls near the end of a section can sometimes take an annoying number of clicks.
TurboTax sports an impressive array of features. Naturally, it supports the importation of financial data from Intuit’s bookkeeping software Quicken. It will also import financial information from Microsoft Money and major 90 US banks, as well as import W2 data from several different payroll companies.
A deduction tracker at the top of the screen tracks your savings or the size of your return in real time, and the software will even keep track of your deductions from year to year, suggesting new opportunities for which you may not have been eligible in the past. A side-by-side comparison of filing jointly versus separately from your spouse is not available, but performing an impromptu comparison using the deduction tracker is a one-click process.
Support
You can get live Tax help from Tax experts and other TurboTax users in our Live Community. The software helps to find answers including examples on any tax topic from anywhere within TurboTax.
The software also functions well as a tax tutor, linking each term to a central tax glossary, and affixing a “Guide Me” or “Explain This” button to any section that could conceivably be confusing.