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You’ll also be asked to provide information from 1099s, like bank interest or dividends earned. This means you can upload the tax forms directly to the TurboTax platform, and it gleans some of your information without any work on your part. However, W2s from many large employers are available for direct import, making the task even easier. From there, the questions become more substantial, and most are fill-in-the-blank type questions.įor example, you’ll be asked to fill in information directly from your W2. For example, the process begins with some basic information about your employment and family size. The questions that TurboTax asks are very basic and easy to answer, and they’re also grouped around general tax topics. Let’s do a walk-through of TurboTax so you know what to expect, and which documents you’ll need before you begin.

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Once you purchase the software and start the process, you’ll mostly follow a simple question and answer format.Įven if you don’t know anything about income tax preparation, this sequence can easily guide you through the process. You can check out this TurboTax review to get more details on this software’s features and tools.One major benefit of TurboTax is its user-friendly and intuitive user experience.

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Plus, complete data security is guaranteed as the software uses measures such as password guidelines and secure encryptions to protect your data. TurboTax provides a cloud-hosted mobile option to help you review your documents anytime, anywhere. In addition, you can save time with the application’s document capturing tools that automatically fill up tax forms. TurboTax’s e-filing features enable you to get your tax refunds quickly.

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In addition, for a nominal fee you can avail Audit Defense to benefit from full audit representation.

If your return is audited, the expert will provide a free one-on-one audit walkthrough. They have the capability to even draw on your screen to provide you guidance with tax-related questions. The SmartLook feature enables you to contact a live expert to get assistance. Plus, the tool’s intuitive interface helps you save time and minimizes effort. The features are simple and straightforward and even lay users without tax knowledge can easily learn the ropes. Online reviews reveal that users find TurboTax easy to learn and use for their tax filings. If the software makes a mistake that results in a state or IRS penalty, the vendor will compensate for the damages and also add interest.

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These verification methods ensure your tax returns are totally error-free and 100% accurate. The platform performs thousands of error checks and also double checks completely before filing. TurboTax is up to date with the latest tax regulations including health care laws and others. The main benefits of TurboTax are its accuracy, ease of use, and great support.

Walks users through tax return documents and double-checks on-the-fly.

Value donated items with the ItsDeductible™ feature.

Updated on the latest tax and health care laws.

My Analysis & Advice helps assess users’ tax history to maximize next year’s tax refund.

Imports financial data including W-2s, investment and mortgage information, plus imports from Quicken and QuickBooks Desktop2.

Guides users through start-up costs so that new businesses can secure deductions.

Extra guidance for rental property income, expenses, and refinancing.

Extra coaching to maximize small business and self-employment tax deductions, such as home, office, vehicle, phone, and supplies.

Expert assistance with mortgage interest, property taxes, and energy-efficient improvements.

Easy preparation, printing, and electronic filing.

Creates W- tax forms for employees and contractors.

Additional help for investment sales such as stocks, bonds, royalties, mutual funds, and employee stock plans.

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