Sometime during the past year, my laptop stopped working. I say “sometime” because I don’t know when; I don’t use my laptop for anything anymore… EXCEPT doing my taxes. I’ve historically used TurboTax, the boxed version installed on my computer. I’m trying to decide whether it’s worth going through the effort of getting the laptop up and running, or if I should just switch to the online version of some tax service. Could be TurboTax, HR Block, it doesn’t matter. My kids are telling me this is the way to go.
My return is relatively simple, just a 1040 and Schedule A, it might come up with some AMT. But nothing complex. Free filing really doesn’t matter since I’ll most likely owe and would rather print and send a paper return with a check.
Thoughts? Risks? Benefits? Can I use last year’s TurboTax file (which was backed up to an external hard drive) to transfer last year’s return?
I’m not sure I’m understanding the difference between TurboTax box vs TurboTax on-line. Are you referring to the free TurboTax on-line version? You might not be able to use some of the free systems if you need to file a 1040 instead of 1040A or 1040 EZ.
If you do get the laptop up and running, you can purchase the TurboTax on-line equivalent of the box version you’ve been installing. It downloads directly to your computer without the need for a CD installation.
Sorry I guess I wasn’t clear. I’ve been purchasing (downloading) TT, installing on my PC, and creating my returns on my PC. Without using a true TT.com account.
The alternative, as I understand it, is to go to TT.com (or another service), create an online account, and go through my returns online (via my tablet) without actually installing any software on a PC. At first glance it looks like HRBlock might have a free 1040 with schedule A, but in any event if I’m not paying for TT, I might still come out ahead even with a fee.
Looking for thoughts on the second option…since I’m not keen on getting my PC up and running (I’d need to reinstall Windows …)
Or, said another way, looking for options on filing without using a PC (ie, filing via a tablet)…
I have been using online software for years. I used taxactonline for a few years, then switched to CreditKarma. I think I switched from CreditKarma because they couldn’t handle my very simple small foreign tax credit (It was withheld from a dividend paid by a Canadian Bank), so the past 2 years I have used Online taxes, OLT.com. They will do federal for free regardless of your income. If your income is low enough you can use their software, federal and also state, for free, but you have to access their website from the IRS website first. If you don’t qualify for free I think they charge $7.95 for a state return.
There are several you can access through the IRS website as well as the IRS’s own “free fillable forms”. I’ve used those for several years. You can print out to mail in or submit electronically. The forms will do the math for you, but won’t necessarily transfer information between forms, and don’t have all of the questions and prompts that are in the other software programs. If you know the forms you will need, and don’t mind transferring some info yourself, the free fillables could work well.
It depends if you want the software vendor to have access to your tax data. If you locally prepare it and mail it in by smail mail they don’t. Personally, I don’t think it is worth the extra $20+ efile fee when $2 in postage will suffice.
Thanks - I created a TT account yesterday and went through the motions of creating a return, just to see what my amount due would be …you can do that without paying, but in order to file, or to even see what the actual forms look like, I do need to pay…
Haven’t decided how to proceed. I still prefer to mail in the return with a check (make’em work for the $$ )
But at least I have an idea of the “bad news” (the amount owed)…
Y’all inspired me. I ran the first draft of the taxes today. Ouch on the federal - I need to change my withholding! Not much of an ouch at all on the state.
Now to trap Happykid long enough in one place to get her messy half-freelance half-payrolled by those bazillion theater groups income information organized.
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