Version Comparison:
https://turbotax.intuit
One important distinction about the various versions is that the Federal only may be good for people who live in states with no State personal income tax (Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming), but if they work in (physically) other states that do have personal income taxes they need to file non-resident returns; so the Federal+State could be useful for them or anyone else who physically works in a state with personal income taxes.
Regarding "State" confusion, on product page, it denotes:
TurboTax includes "1 State via download ($40 value*). State e-file sold separately."
This means you will get the download product for a state of your choosing in order to prepare and file it. E-filing your state return is sold separately but you can avoid that by choosing to print and mail instead of e-file.
1 State download is included per computer for free. If you install on another computer you have the option of downloading another state for free with that install.
There are 5 federal e-files per purchased (licensed) copy of the software. If you choose to trade a GC or otherwise with someone just know that you can't say with certainty the last person they traded with only activated it 1 time, or installed on multiple computers resulting in multiple activations at which point you could be out of luck. There has also been mention of a particular license key getting bound to the account that purchased the license if using a download version (vs CD) so downloading in that scenario would not be as quick and easy.
IRS announces delay for implementation of $600 [irs.gov] reporting threshold for third-party payment platforms' Forms 1099-K
If you plan on having these types of transactions in 2023 you will need to get the Home and Business version to make the calculations for your self-employment/estimated taxes for 2023 due April 15th, 2024
Before someone chimes in about all the free tax filing services -- remember youre the product not the customer for them.
https://www.theverge.co
FreeTaxUSA and Cash App also offer Free Tax software, and are *not* mentioned in the privacy data breach article above. But unless someone has completely read the legal disclosure documents of Intuit, there's still risk that they are selling this info to 3rd parties *and* charging high prices. Also beware Intuit actively spends millions of dollars lobbying the government to *not* implement it's own simpler automatic tax filing for majority of citizens like most other advanced countries.
FreeTaxUSA is less polished and lacks some basic features such as the ability to import W2 and 1099s -- also some features arent free such as state filing. https://www.pcmag.com/reviews/freetaxusa
Digital credits cannot be used on the TurboTax bundle (has $10 Amazon gc)
Digital credits can be used on TurboTax by itself (no $10 Amazon gc)
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If you want to e-file through TurboTax, they require you to pay an e-file fee. Some years, when I've owed state taxes, I print off and file through the mail or online via my state's filing portal using the filled out forms.
Just pointing out that Intuit just hasn't been discovered like TaxSlayer, TaxAct, and H&R Block's software, which is only one data point. Unless a company proudly advertises it takes user's privacy seriously above & beyond its competitors (Apple is the one that comes to mind), I assume most of the data is being sold & shared with 3rd parties. So Intuit could be making a huge profit from selling its software *and* selling info to 3rd parties, which makes sense since they're also able to spend millions on lobbyists to prevent the government from deploying its own, easier, more automatic filing system like most other rich countries already have.
From the Verge article:
"Even Intuit, the company that runs America's dominant online filing software, employed the pixel. Intuit's TurboTax, however, did not send financial information to Meta but, rather, usernames and the last time a device signed in. In some circumstances, the pixel also gathered information like an order ID number and user's email address after they signed in."
More background articles on what the biggest tax software companies do to preserve their business models, at the expense of literally every tax payer, every single year.
https://www.opensecrets
https://www.propublica.
Politicians won't help as they like the lobby money.
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That page says "Self-Employed : Personal & business income and expenses" and steers self-employed people to the most expensive H&B edition.
TT Deluxe desktop handles self-employed people just fine - speaking from personal experience for many years.
The vast majority of people can use Deluxe, especially if don't need extra "handholding", Intuit strongly suggests Premier and H&B to many people that just don't need it.
But if you need Home & Business, don't count out SamsClub. At current, they are pennies cheaper than Costco. Not to mention, free curbside delivery at Sams (suck it CostCo) or free shipping for Sams Plus members, it is a valid option. I like to have the CD. I decades of CD on the shelf (exception the years AAA used to give it away for free if you had their credit card).
We will see what Amazon has as the price is on the 28th.
Politicians won't help as they like the lobby money.
good article with further warnings — You agreed to what? Tax sites want your data for more than filing. https://www.washingtonp
Just pointing out that Intuit just hasn't been discovered like TaxSlayer, TaxAct, and H&R Block's software, which is only one data point. Unless a company proudly advertises it takes user's privacy seriously above & beyond its competitors (Apple is the one that comes to mind), I assume most of the data is being sold & shared with 3rd parties. So Intuit could be making a huge profit from selling its software *and* selling info to 3rd parties, which makes sense since they're also able to spend millions on lobbyists to prevent the government from deploying its own, easier, more automatic filing system like most other rich countries already have.
From the Verge article:
"Even Intuit, the company that runs America's dominant online filing software, employed the pixel. Intuit's TurboTax, however, did not send financial information to Meta but, rather, usernames and the last time a device signed in. In some circumstances, the pixel also gathered information like an order ID number and user's email address after they signed in."
More background articles on what the biggest tax software companies do to preserve their business models, at the expense of literally every tax payer, every single year.
https://www.opensecrets
https://www.propublica.
https://www.intuit.com/privacy/data-usage/
https://www.intuit.com/privacy/statement/
Your second point is conflating a different issue which is tax filing companies have done very slimy things to prevent the IRS providing free filing software (or pre-calculated returns). Unfortunately, this is the world we live in and tax filing software makes it much easier to self-file and far cheaper than an accountant. There is a glimmer of hope, in 9 months, thanks to the Inflation Reduction Act, the IRS is to provide a report on providing free tax filing for all.
https://www.propublica.
If you really want free without being the product, IRS provides fillable PDF forms:
https://www.irs.gov/forms-instructions
That page says "Self-Employed : Personal & business income and expenses" and steers self-employed people to the most expensive H&B edition.
TT Deluxe desktop handles self-employed people just fine - speaking from personal experience for many years.
The vast majority of people can use Deluxe, especially if don't need extra "handholding", Intuit strongly suggests Premier and H&B to many people that just don't need it.
https://i.imgur.com/KBQLOUm.jpg
There are also datapoints that suggest if you upgrade to home and biz on the first computer you activate the premier key on, the next 4 computers you use it on will automatically have home and biz. Saving you $15*4=$60. However I did not test it out myself so I don't know if it's actually true.
Edit: I tested it out, as long as the first user paid $15 to upgrade, all subsequent activations using the same code will get the home and business version
Looks like this sale starts tomorrow, but it's currently at $95 and definitely not a deal. If Amazon can't get back to $65, I'll have to find it elsewhere
Without $10 AMZ GC. Price $47.99
https://www.amazon.com/TurboTax-S...B0BH5MNTRJ
and
With $10 AMZ GC. Price $57.99
https://www.amazon.com/dp/B0BJ1GWQWJ
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