Pros It works with Quicken and give quick look at simple tax submissions.
Cons Intuit does not back the accuracy of the actual forms submitted online in your name. Audit defense is sold by Intuit but provided by a subcontractor that is too slow to respond to automatic audits triggered by inaccurate online submissions.
Summary Intuit warranties the accuracy of their software and sells audit defense provided by a subcontractor. By accuracy, they mean that the software can add 2 & 2 to get 4. However, getting the right numbers in the right slots does not seem to be part of the warranty. Purchasing the audit defense is a waste of time and money. If any question arises from your online tax form submission, the company providing the "service" will not recognize your audit defense account in time to do any good. Turbo Tax "help" services are focused on deflecting all criticisms, not solving problems.
Turbo Tax's erroneous submissions resulted in state and federal audits which I was left to resolve myself. After months of discussing Turbo Tax's erroneous submissions of my taxes to the IRS and state agencies I cleaned up the mess Turbo Tax created and obtained my refunds and an apology from the IRS and the State of Colorado ... with no help, apology, or refund from Intuit. Many hours were lost trying to solve the problems caused by Intuit and my credit rating may have been damaged by Intuit's lack of any reasonable response.
"Decent Product"on by jedialan
Pros Easy Navigation
Cons Lack of Help
Summary Overall this is a good product. Don't waste your time buying the box, just log onto their website as you get the exact same product without having to download the software to your computer. The navigation is fairly straightforward but does get rather confusing at times (like entering sales of stock). I've used this to file my taxes for the last 7-8 years and will continue doing so.
Pros Easy to use.
Cons Major errors. Didn't ask the questions needed to complete the proper forms. Forms were missing and approximately 20% of the information on the forms that did print were blank and had to be manually filled out after running the audit preventer.
Summary As noted above, forms were missing and when the IRS wanted the forms to process my return, I could not produce them. In the hope that Turbo Tax would be able to help me, I made the mistake of trying to call. Fortunately I have a speaker phone and I was able to be productive while waiting on hold for around 5 hours. Finally I had to hang up because of appointments. Because of Turbo Tax, my refund was delayed for 3 months and I almost didn't get my rebate check. Just yesterday, I received a notice that I am being audited and instead of refund that I deserved, they say that I owe $8,000. Thank you Turbo Tax. If the audit protecter cannot solve this, I will definately be sueing for damages.
Pros maybe ok if you have no stock option transactions
Cons close to useless for reporting stock option transactions
Summary Reporting gains and losses on stock option puts and calls should not be rocket science! I frankly find it hard to believe how poorly this is done in Turbotax - to the point that makes using this for such reporting unworkable. I'm trying to find some workaround - printing the schedule D and perhaps entering the info by hand?
Pros Good integration with many different financial institutions
Cons E-file servers failing on Apr 14 and e-file cost doubles the cost of the product
Summary Turbo Tax Premier worked smoothly for the most part. Dealing with employee stock options is intuitive - unless the transactions are imported from one's broker. In this situation the user must delete the imported transactions then re-create them using the step-by-step interface. This is easy enough to do except that there was no guidance.
The biggest issues center yet again around e-filing.
1) The cost ($66) nearly matches the price of Turbo Tax Premier
2) as of 9:00 pm PST on April 14 Intuit's servers are overwhelmed again this year; NPR interview this morning not withstanding! I am being advised to file at 4 am!