2011 TurboTax Review

Posted by Madison on March 1, 2011

Last year I decided to use an accountant for my taxes due to a confusing Roth 401k rollover. I was pretty sure I knew what I was doing but since the Roth 401k is relatively new, few people have rolled it over. Plus, I had some freelance income so I thought I’d be better off safe than sorry.

Afterward, I regretted paying an accountant because TurboTax had calculated my return exactly the same way. That made using TurboTax this year a no-brainer as it was a much cheaper option.

I was really pleased with my experience. I found the 2010 TurboTax easy to navigate and I was able to fill in my info as I received it, easily stopping and starting my return on my own schedule.

TurboTax Community

I knew I needed to use a Schedule C for my self-employment income but when I had questions about deductions I could take, it was very handy to have the TurboTax Community of questions and answers.

A quick search found that I could deduct Paypal fees and told me where in TurboTax I could go to directly enter the information, avoiding the TurboTax deductions “Guide Me” tool when I didn’t need it.

Last Year’s Taxes

I also liked how TurboTax showed me info from my 2009 tax return. It made it easy to compare how things had changed year over year and if something was different in 2010, it was immediately obvious.

For example, my income from 2009 included my 401k rollover whereas 2010 did not but that was easily identifiable.

TurboTax Filing

Filing my taxes with TurboTax was also very straightforward. They ran a quick review for any missed deductions, credits or incomplete information and told me that I had forgotten to input some info on a few stocks I had sold in 2010. Once I went back and fixed that section, I ran the review again and TurboTax gave me the green light to proceed with filing, but first warned me that individuals with self-employment income are more likely to be audited.

Once I filed using TurboTax for my state taxes, I immediately received an e-mail confirmation that my tax return had been accepted and the money I owed was deducted from my bank account just 3 days later! My Federal return took only slightly longer. My tax refund was deposited into my account 10 days after I e-filed. I also was able to easily save my entire return as a PDF so that I have a paper copy if I ever need it.


I was fortunate enough to have a pretty straightforward tax situation this year. In the past, I’ve used TurboTax for more complicated situations (multiple state returns, amending a return, education credits) and I’ve never had any major complaints.

Sometimes I’ve been a little unsure how to answer the questions it poses and have had to go outside the program for help but overall, I’ve felt 100% comfortable with TurboTax‘s services and it has allowed me to file my taxes very quickly with great record-keeping. I would definitely recommend it, especially for simpler returns.

You can get my latest articles full of valuable tips and other information delivered directly to your email for free simply by entering your email address below. Your address will never be sold or used for spam and you can unsubscribe at any time.


Comments are closed.

Previous article: «
Next article: »