![]() Its various options, including the free version for basic tax returns, mean that users can choose the edition that most suits them, and the functionality and robust features within the software mean that preparing a return is as stress-free as it can be. TurboTax is one of the most popular options for filing tax returns. The company is not officially accredited to the Better Business Bureau but they do receive the top A+ endorsement. W-2 paperwork for instance, can be uploaded as a photo of the form taken by the user’s phone.Īll in all, it’s an intuitive, straightforward process with easy interfaces so long as the tax filer chooses the most suitable version for their return. TurboTax allows the easy upload of documents. There are also occasional encouraging messages designed to skim some of the stress from the process, with phrases such as “You can do this!” popping up. This means that the software prompts users with conversational-style questions to ascertain tax information, a nice side effect of which is the relatively infrequent use of tax jargon that would have users heading straight too Google. “Interview-style” approach to information gatheringĪll of the TurboTax editions are designed with ease of use in mind, and TurboTax scores highly against many of its competitors for employing an ‘interview-style’ approach.All of the various editions of TurboTax are fully equipped to prepare and submit tax returns in all fifty states as well as all federal tax returns. It is primed to flag up industry-specific deductions and it comes with free individual assistance from TurboTax’s self-employment specialists. Additionally, this version looks at the deductions that are available on any rental property income that might be coming in.įinally, the Self-Employed Edition includes informative guidance for users such as contractors, freelancers and small business owners. The Premier Edition (for investments and rental property) covers all stocks and bonds activities, imports the users investment income automatically and even analyses the user’s cryptocurrency transactions. It also analyses outgoings such as mortgage and property tax payments (on the user’s family home, not rental properties) and looks to maximise these deductions. This edition actively searches for potential tax deductions and credits that the user may not be aware of, up to some 350 of these. The Deluxe Edition brings users a lot more functionality for the extra outlay, most of it looking to save you more money than it might cost to buy the software, so it seems like a worthy investment. This version is very straightforward to use, and includes some great features, such as the ability to just take a photo of your W-2 with your phone and then upload it (this works seamlessly for those users who work for one of the 1,000+ TurboTax partners). It isn't quite as robust as Credit Karma Tax (opens in new tab), but still very good. The Free Edition works perfectly well for simple tax returns, which should include almost everyone that earns less than $60,000 per year. Self employed: Contractors, freelancers, small business owners.Premier edition: Rental properties, stocks and bonds, cryptocurrency.Deluxe edition: Actively searches for potential deductions.There are Premier (for investments and rental property owners) and Self Employed versions that retail at $90 and $120 respectively. The Deluxe version is the most popular, and comes with the increased functionality that most users will appreciate. The free version can be used by people with an income of less than $66,000 and, as already stated, is for those with simple tax returns only. The prices for TurboTax software (excluding the free version) are slightly higher than the comparable product prices of their main competitors, but the brand recognition and additional inbuilt features compensate for the difference.
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