TurboTax Deluxe Federal + e-File + State 2010 - Review

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TurboTax Deluxe Federal + e-File + State 2010 - ReviewI've been using TT since it was released in DOS, and as part of the installed base, have stuck with it since.
Quite frankly, tax software is now indepensable for me - - - transfer of profile info to the new year, transfer of state carryover payments, carry forward losses, IRA cummulative contributions, etc., integration with State filings, etc. It cuts down the overhead time.
The Question & Answer format continues, and it seems to be a good approach to cover your tax situation. It allows you to "explore on your own" any topic. The sequencing is unchanged -- personal info, income, deductions & credits, and error checking. My advance edition software is really just a template to carry over your previous data from the 2009 filings and an update checker - - as of now (01/10/2011), my tax reforming forms won't arrive until end of January and many IRS still need to be released as 2010 versions. With significant Federal incentive tax changes (like 1st time house credit, green energy credits, etc.) and last minute tax changes in 50 states, I'm sure the Intuit progarmmers are hard at work updating Fed & State forms and schedules. Any TT version you buy and updated in early 2011 will continue to show the "Do Not File" watermark on any return you produce until later in January.
Although I don't remember compared to 2009, the 2010 version will show 2009 numbers side-by-side with 2010 in many places if you import 2009 data to your 2010 file; it helps to give you a visual look at year-to-year variances and perhaps prompt you to do some error-checking on your own.
Last year, I began using the uploading feature that uploads reporting documents/numbers from many financial institutions & payroll processors (like 1099's, W-2, etc.). It's a big convenience but I have a concern on privacy as you have to disclose a lot of confidential data for TT to enter the portals of the FI's and processors. You have to trust TT to dispose of your data once it enter the portals.
In previous years, I had several serious issues w/ TT.
In the California (CA) state from around 2004-2006, it would not transfer my Federal capital losses to Form 540 which has various CA income adjustments such as interest on Federal debt, state debt interest, special CA IRA treatment, etc. Instead, TT added back my Federal carryover capital losses that were used in my Fed Form 1040. This happened for several years but seemed to have been fixed in recent years. I didn't catch this TT error until years later and then I filed a CA 540X to claim the capital losses which amounted to several $thousands in CA tax refund.
In filing Amended CA tax, the older years were very clunky to use -- it was manual, but TurboTax gave me good access to the downloard versions of state software that I purchased on-line years ago but no longer on my current PC. The newer years for State (calif), beginning 2008, were much easier to use when doing amended returns.
I used New York (NY) TT before 2004 and found that the state software did NOT use the HIGHER of standard Deduction and Itemized Deduction. Because NY is a high income tax state, I normally itemized in my Fed 1040, but NY state income tax is not deductible in NY, so typically for me Standard NY Deduction is higher than my Fed Itemized (minus state income tax for NY filing), but TT would transfer my Fed Itemized status to NY. I had to OVERRIDE NY TT to in order to use the higher Standard NY Deduction which resulted in $hundreds of lower NY tax.
Both the above demonstate TT quality assurance is not sufficient.
Creeping State Version price --
Although a State version is packaged w/ most of TT's Federal versions, have you noticed that pricing for a 2nd State is creeping up -- if you work in NY and live in NJ or CT (or DC/VA/MD), have income from a non-resident state, or moved, you will need to buy a 2nd state. The State version used to cost $19.95, then went to $24.95/$29,95 and it's now $39.95 for the 2010 -- can you feel their figurative hand on private parts ?TurboTax Deluxe Federal + e-File + State 2010 - Overview
TurboTax Deluxe was designed to make it easy for you to get the biggest tax refund possible, checking for accuracy and uncovering 350+ deductions and credits. Includes free Federal Efile and TurboTax State for completing your state taxes.

Everything you need to do your taxes with ease.
Finds All Tax Deductions and Credits You Deserve to Get Your Biggest Refund
Maximizes Your Tax Deductions
Asks simple questions about your income, family situation and changes in your tax situation and credits. Then, based on your answers, searches for more than 350 deductions and credits to get you the biggest tax refund—guaranteed.

Looks for Deduction Opportunities as You Go
Shows you which deductions you've taken. Which deductions you haven't. And tells you how to qualify for just about any deduction, so you don't miss any opportunities to save.

Gets You the Maximum Deduction for Donations
ItsDeductible (included) helps you accurately value items you donate to charity–no more guessing. Plus, it tracks other donations such as cash, mileage and stocks, to help you get every charitable deduction you're entitled to.

Handles Your Life Changes
Changed jobs? Got married? Bought a home? Had a baby? TurboTax guides you through common life changes, explains how the changes will impact your taxes, and tells you what you can deduct.

Helps with Medical Expenses
Does all the math and tells you if you qualify to deduct your medical expenses for maximum tax savings.

Helps You Reduce Audit Risk
Tracks Your Audit Risk
Audit Risk Meter checks your tax return for common audit triggers. Shows whether your risk is high or low. And provides tips to help you reduce your chance of an audit.

Includes Downloadable Audit Support Center
Gives you step-by-step guidance on everything you need to know and do if the IRS contacts you.

Also Available: Audit Defense
Provides full-service representation by a trained tax professional. You will never have to meet with the IRS, unless you want to.

Does the Hard Work for You
Asks Easy Questions, Tailored to You
Guides you step by step through your tax return and puts your answers on the right tax forms for you. Skips interview questions that don't apply to you, so you can finish your return faster.

Automatically Fills in W-2 and 1099 Info
Gets your W-2 and 1099 data directly from over 100,000 participating employers and financial institutions and automatically puts it in the right tax forms. A brief summary lets you review and edit downloaded information if necessary.

Transfers Last Year's Tax Info
No retyping necessary. Fills in information from your previous year's return to save time and increase accuracy. Shows you what you're importing and where it goes in your return. You can also import from other tax software including TaxACT and H&R Block's TaxCut.

Imports a PDF of Last Year's Tax Return
Easily imports prior year tax data/documents from TurboTax, other tax software brands4 and tax stores.5 Imports Your Financial Data — Imports information from your financial software (including Quicken, QuickBooks 2007 and higher, and Microsoft Money) so you can skip the cut and paste this year.

Makes it Easy to Hold Your Place
Flag areas in your tax return so you can get back to them easily.


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