![]() ![]() One of the more expensive tax preparation services Downsides include higher costs compared to competitor pricing and the potential additional cost of utilizing a tax expert. TurboTax has many benefits, but not everything about the service is perfect. TurboTax will automatically scan the document and complete all the necessary information on your tax return. You can take a picture of your W-2 form with a phone or tablet and upload the photo to the tax software. Importing information from your W-2 is easy with TurboTax’s W-2 Snap and Autofill features. It also relieves the stress of worrying about what you need to file taxes. Importing tax documents is a quick way for TurboTax to gather information from your W-2, 1099 or 1098 forms. Choosing Import will allow you to select a financial institution and import your tax documents directly. Once you log in to the software, select File and then New Tax Return. Tailored to fit investors’ needs, TurboTax provides automatic import options for investment data from thousands of financial institutions - including banks, brokerage accounts and cryptocurrency accounts - minimizing the time it would take to manually input individual data as well as the potential for human error. TurboTax covers all levels of investments, including: ![]() With the TurboTax Premier version, investors can follow a relatively straightforward filing process, even if they have large amounts of investment income or rental properties that could contribute to complex tax scenarios. TurboTax provides efficient tools and support for investors who need help with complicated tax matters. When you need help understanding definitions or procedures, TurboTax offers clear guides, examples, informative pop-ups and a quick search function. TurboTax helps you fill out your tax returns by asking simple questions that guide you through the filing process. TurboTax’s easy-to-use interface makes filing your taxes more streamlined. With TurboTax Online, you can continue any tax filing started on your mobile device on your desktop or vice versa. The desktop software, mobile app and online version provide straightforward instructions for adding your information and uploading necessary tax documents. ![]() TurboTax is one of the most user-friendly tax filing options on the market. Some of the biggest pros to filing with TurboTax include its easy-to-use interface, reporting for investment earnings, simplified tax document importation and automatic importing of W-2 information. Many view TurboTax as the best tax software and online filing platform available. Final cost to file may be an unwelcome surprise.One of the more expensive tax preparation services.Enter one summary per 1099-B for all covered short-term transactions and another per 1099-B for all long-term transactions. If the software provider is only letting you enter each individual transaction and you want to enter a summary transaction for COVERED stocks, enter various as purchase date (most software allows this) and various as sale date if software allows it, or 12/31/XX if it does not. See the instructions for form 8949, which make this abundantly clear for covered securities if you have no adjustments to report. The software providers often tell you to enter them individually, likely because they don't care how long it takes you, and they'd rather not risk the IRS sending you a notice (they won't), and then you bark at the software provider as if it's their fault (it wouldn't be) for entering summary transactions. If sales of stocks are "COVERED" securities per the 1099-B, you don't have to waste your time entering individual stock sales even if the software instructs you to do so. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests. ![]()
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