In 2011, I sold some stocks and had some dividend income so I briefly considered using an accountant to file my taxes. However, since last year’s experience with TurboTax was so smooth, I decided to give it another try. Once again, I was impressed by the ease with which TurboTax handled my increasingly complicated tax situation.
TurboTax Import Feature
This year I used TurboTax’s import feature for the first time. I am usually pretty savvy when it comes to my tax forms but when I received my 1099 from ShareBuilder, I honestly had no idea what to do with it.
I decided to try the import feature and it could not have been easier – I entered my Sharebuilder account number into TurboTax and it took all of 2 minutes for them to retrieve and fill in all of my stock info.
Filing my Taxes
Filing my taxes was once again very simple. TurboTax looked for missed deductions, credits and incomplete information and once they confirmed everything was good to go, it took me only minutes to save my state and federal returns as a PDF and then file the returns.
I received two e-mails confirming my submission, but about an hour later, I received an e-mail saying my state return had been rejected. It was nice that TurboTax mentioned that this happens often and gave me simple instructions on how to try again and on how to obtain my state PIN (omitting that had caused the rejection). Just a short time later, I received e-mails confirming that both returns had been accepted.
Once again, I wouldn’t hesitate to recommend TurboTax for anyone with a relatively simple tax situation. The TurboTax community is great for Q&A and the import feature made a potentially complicated situation a cinch. In fact, I’ll be using it to help my sister file her return before the tax deadline!
Last Minute Tax Filing Topics
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I would not bother waiting to hear from TorboTax with answers to your tax questions. Call the IRS at 1/800-829-1040, Monday through Friday from 7 AM until 10 PM. You will be directed to a staffer who specializes in the topic you are calling about. I call twice, to be sure I get the same answer from two different people. And always get the name and ID number of the employee to whom you speak. You can also access IRS publications from the IRS website at http://www.irs.gov. (No, I am not an IRS employee ! But I do work as a volunteer tax preparer with their VITA program, and have found most IRS employees to be helpful and accurate.)
Sorry, “TurboTax”, spelled wrong.
Hello Molly! Thank you for your suggestion and comment.
When your tax situation changes dramatically, especially when you start a business, it is a good idea to see a qualified tax professional. I know that as a CPA I am biased, but it is worth a try for at least one season. A good professional will usually save you more than their fees and save you time. If you don’t think it is worth it, then you can always do it yourself the following year.
We’ve used a CPA for three years while deducting a big business loss. Next year, I believe we will be using TaxAct or Turbo Tax since we’ve gotten much more organized and won’t need to worry about the business loss deduction anymore.
Thanks for the review.
i end up paying unnecessary penalties for filing late taxes