Best tax software?

[fermicat]

I want to use software to do my taxes this year, rather than doing it all by hand. The recommendations online were mixed, so I am turning to my favorite source of information: FMD.

I don't necessarily want to use software for state, but definitely want it for federal. I have a PC with Windows XP. What do you recommend?

[stlscape]

I've used both TaxCut and TurboTax over the past several years and would recommend either. I usually pick whichever one has the best $$ deal that year.

[LiLOrion]

I've used both TaxCut and TurboTax


Yeah, what stlscape said. :)

I use TurboTax cause I have my own business, but I use TaxCut for my sister and brother-in-law. Both work well (the online versions). Never had any problems. And its easier once you do it one year cause when you come back the next year it remembers the pertinent info from the year before.

[LT Garrix]

I've used TurboTax for the last 5 or 6 years, no complaints. My bank offers a deal on the online version so that's why I use that. 2 years ago it was pretty user friendly and there are useful help files when trying to figure out what a line is for. And they quote the IRS sources and sometimes provide a better translation. Not sure how it worked last year, but hubby who has never done the taxes before was able to get them done no problem with no help from me. :D

[Selena1]

If you go to the the actual IRS website and click on "efile", it'll take you to a page where you can select a company to do your taxes online, in most cases FREE. Turbotax is one of the options and I beleive they have no income limits, meaning as long as you go via the IRS website, there's no reason to buy the software.

[Emeraldcity]

Turbo Tax is a very good option if you choose to do it yourself. It literally walks you through each step and helps to correct any errors. As someone who has to do taxes for several companies and individuals I would highly recommend it. :D :D

[RustySlinky]

Turbo-Tax is from a company called Intuit. These are the same guys make the software called *Quicken* for individuals, *Quickbooks* for small business, and *Lacerte* for Accounting Firms. This company has a very strong reputation here for making relatively idiot-proof, easy-to-use software.
http://www.turbotax.com/?source=ttcom4home3

TaxCut is put out by the folks at H & R Block. This software is supposedly harder to use for the big and complicated tax forms. However, these guys are rumored to be more patient with their customer support, and won't charge as much money for those customers who need the extra "hand-holding".
http://www.taxcut.com

If the tax forms are going to be long and complicated, going to a good accountant for tax filing and tax planning might actually save a person more money in the long run.

[grinner]

If you use Quicken, Turbo Tax is the way to go. You can cross port your info from one to the other.

[who45]

Yep, that's what I did today and it was really easy. I used Turbo Tax for both federal and state and will use it again next year.

[Xev]

I've used Turbo Tax for the past 3 or 4 years. I really like how everything is easy to understand and I completed everything pretty quickly. I like them better than H&R Block. Theirs isn't quite as easy to use, but it's okay.

[fermicat]

I use Quicken, so it sounds like I would be comfortable with TurboTax. Now here is another question...

Which version of TurboTax do I need?

They seem to have a lot of versions out there. Can I get by with Basic, or do I need the Super-Duper-Ultra-Knowitall version? There isn't anything too complicated about what happened last year, other than going back to school and living in two states. My moving expenses were not deductible, and with only having a mortgage for half the year at very low interest and only having an income for half the year, I probably will take the standard deduction.

[stlscape]

I think the Deluxe version includes the State tax forms. The Basic version is Federal only.

[who45]

I downloaded Basic and it included both federal and state.