TaxAct Plus vs TurboTax vs H&R Block for 2015

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Impromptu
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Impromptu »

Turbo Tax for federal. Multi year Roth conversions for me and my wife were the trickiest things I had done before, but I am now up to date and am just doing one year at a time.

Once that is done I'll use Illinois's own online entry form which is free and worked very well.
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pennstater2005
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by pennstater2005 »

joe8d wrote:
pennstater2005 wrote:
joe8d wrote:Going to try Free Tax USA this year.
Been using it for quite some time now. It has served me well. I'm trying TT free federal and state as a comparison before I submit. Free Tax USA charges $12.95 for state returns.

Will be using NYS free software ( available on website ) for state return.
For whatever reason I never thought about checking for free PA state filing software and they do have it. I might use it this year. That $12.95 is tempting though because it's literally just a few more clicks to file a state return with Free Tax USA without entering any more info.
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livesoft
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by livesoft »

As of today, HRBlock software doe NOT import 1099s from WellsTrade nor WellsFargo. I'm completely bummed out. Thank goodness that I don't have but a couple of trades to enter manually. :(

Update: Maybe later in it will work. Please see follow on post.
Last edited by livesoft on Sun Jan 24, 2016 10:53 am, edited 1 time in total.
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mervinj7
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by mervinj7 »

livesoft wrote:As of today, HRBlock software doe NOT import 1099s from WellsTrade nor WellsFargo. I'm completely bummed out. Thank goodness that I don't have but a couple of trades to enter manually. :(
Is it possible to download the TXF file from Wells Fargo and import into H&R Block?
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Kenkat
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Kenkat »

I am using Turbo Tax Deluxe this year because I got it and Quicken 2016 Deluxe in a bundle for $40 on Amazon, which was too good a deal to pass up. However, I have discovered that the "Turbo Tax Deluxe Federal + State does not include state e-file ($19.99 up charge), which seems to be another one of Turbo Tax's shady tactics, so I am most likely back to TaxAct next year.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by livesoft »

mervinj7 wrote:
livesoft wrote:As of today, HRBlock software doe NOT import 1099s from WellsTrade nor WellsFargo. I'm completely bummed out. Thank goodness that I don't have but a couple of trades to enter manually. :(
Is it possible to download the TXF file from Wells Fargo and import into H&R Block?
Here is a note from the past week that maybe HRBlock will import from WellsFargo in February:
http://community.hrblock.com/t5/DIY-Pro ... td-p/57823
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by my name »

Turbo Tax for many years. The TT Premier is discounted to $55 at Amazon. It got me through many years doing a great job with a rental and also company stock ESPP plan. I've submitted questions on their forum and get quick and good tax return advise. I like keeping the CDs in my file.
The Wizard
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by The Wizard »

joe8d wrote:Going to try Free Tax USA this year.
Same with me.
I've already entered all my income details into it, I think.
Will do exemptions and itemized deductions tomorrow...
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Impromptu
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Impromptu »

Anyone else not like using the auto import function because you want to understand your taxes better?
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Clumsum
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Clumsum »

HR Block after many years of Turbo Tax. Part of the reason is that Vanguard no longer provided for free. Another reason is Turbo Tax is not price competitive in my opinion. I considered TaxAct but needed more than one federal return. If I read the literature on Tax Act correctly it only lets you do one federal return.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by dratkinson »

I used OLT (online taxes) last year and this. Found its menu-driven interface makes it the fastest product I've every used.

Must enter from IRS free file s/w referral page (different URL) to be eligible for free tax returns: fed, state, efile.

If you make too much to qualify for free returns (>$62K), then it's ~$8 to efile each return: fed, state. Free to print.


dumbbunny wrote:I'm not trying to hijack the thread and maybe others are wondering about this:
My wife and file jointly but I also like to create an alternate 1040 form (without losing the original vesion) - one without my income, dividends, etc. but filing jointly to see how my dividends, etc. affect our taxes.
Does anybody know if any of these three tax software programs allow you to do this using the online version?
I've used excel1040.com to play tax return "what ifs". Download the Excel workbook. Enter your current return data to confirm results. Then enter your changes.
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pennstater2005
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by pennstater2005 »

For what it's worth.....I used Free Tax USA to file my federal and "almost" state taxes. The reason I say almost for state taxes is because it showed I owed $7 which made me curious. So, I went through PA's direct file system and when I was done it had me owing $0. Not sure how Free Tax USA got the $7 but I ended up saving the $12.95 by filing through the state for free and the $7 I didn't actually owe.

I wasn't going to do the state taxes through the PA direct file until my wife said " if you pay with the credit card to save 1 or 2% on purchases why wouldn't you save the $12.95 and file for free? I told her because I'm lazy and then secretly filed for free!
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AviN
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by AviN »

pennstater2005 wrote:For what it's worth.....I used Free Tax USA to file my federal and "almost" state taxes. The reason I say almost for state taxes is because it showed I owed $7 which made me curious. So, I went through PA's direct file system and when I was done it had me owing $0. Not sure how Free Tax USA got the $7 but I ended up saving the $12.95 by filing through the state for free and the $7 I didn't actually owe.

I wasn't going to do the state taxes through the PA direct file until my wife said " if you pay with the credit card to save 1 or 2% on purchases why wouldn't you save the $12.95 and file for free? I told her because I'm lazy and then secretly filed for free!
I prefer to file via the NJ state website as well. It's free and seems to be more accurate and easier to use than commercial tax preparation applications. This makes sense if you consider that creating tax applications for 50 states (and DC) is a lot of work to do well. The only disadvantage with filing through the NJ website is that I do need to re-input most of the information.

Avi
Raladic
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Raladic »

Using TaxAct for the 3rd year in a row now.

Decent price (I sign up for next years version around April and it's been close to $10 every time) and I like that I can switch between Forms and Q&A view at any time to check that my entries have carried onto the Forms as they should.
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FiveK
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by FiveK »

Clumsum wrote:I considered TaxAct but needed more than one federal return. If I read the literature on Tax Act correctly it only lets you do one federal return.
According to https://www.taxact.com/tax-preparation/ TaxAct (at least those versions) will give you 5 free federal e-files. I believe the software allows you to have as many different return versions on your computer as you care to create.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by my name »

AviN wrote: The only disadvantage with filing through the NJ website is that I do need to re-input most of the information. Avi
I'm also NJ, and prefer to print the state return and mail it. To me this is "insurance" that the IRS will leave me alone given the return was fully done by a commercial product (Turbo Tax). Also, any error is on TT, not my typing.
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pennstater2005
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by pennstater2005 »

AviN wrote:The only disadvantage with filing through the NJ website is that I do need to re-input most of the information.
This was the primary reason why I always used Free Tax USA software to file my state taxes. But after a probable error this year, although not much, I'll be doing it through the PA direct file system from now on.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by The Wizard »

FreeTaxUSA worked out fine this year.
I wasn't sure if I would use it to file my MA return as well but ended up using it for convenience to avoid having to reenter SEVEN 1099-R forms again.
The $12.95 I paid for will be deductible on Schedule A next year at this time...
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Mitchell777
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Mitchell777 »

Two years ago I believe I used TT through Vanguard for free (Fed and State). I did two Fed and two State returns electronically submitted. for that. Think there may have been a fairly small fee last year. Am I reading it correctly that this year it is $55 for Fed and $37 for State? Can you do more than one return for that (i.e. you and a family member)? THanks
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by johnubc »

Would it not make sense to use a poll to tabulate the numbers?
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retiredjg
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by retiredjg »

This is disappointing. I decided to use TaxAct Plus, but it is not available for download in anything but windows format. :annoyed I'm not interested in the online version. Guess I'll keep using TT.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Toons »

TaxAct this year.
Locked into 15.99 Fed,State for 2016 yesterday :happy
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by IPer »

This year is my last year on Turbo Tax.
I have already found a few imports that no longer
bring in detail in Turbo Tax and not all forms are in
until the end of next month. I have been doubling up
with FreeTaxUsa.Com and am ready to use it, so next
year I won't even use Turbo Tax. I am amazed at how
good FreeTaxUsa.Com is, next year can only be better!
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by surfstar »

Used TurboTax yesterday. 1040A

FREE for Federal AND State (CA) e-file. I believe this is the second year that's true. I used to have to use the CA FTB website for free cal-file. Would take an extra 15mins or so.

In addition they also imported my W2 for free. First time.
That used to be another selling point to the upcharge. They still imported my personal info from 2014, then asked if I wanted to pay in order to be 50% done already. Said no, I can type in my own name, thank you.

Overall, a pleasant experience.
Allixi
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Allixi »

I used to use H&R Block. I decided to try TaxAct this year - there was an offer for $15.99 ($9.99 Federal and $5.99 State) a few weeks ago. Filed my return over the weekend.

I'd say they were about equally easy to use - I'll probably stick with TaxAct for next year.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by chx »

AAA wrote:Then last year there was the issue of missing capability in TT Deluxe. They made up for that by upgrading people who contacted them to the Premier version for free, which I took advantage of. However, I then learned that you couldn't do local printing of returns, but had to send data over the internet to Intuit for print formatting. As someone who doesn't do returns online and doesn't e-file, I was not comfortable with that...
Last year's Premier Turbo Tax (which I bought directly, not as an upgrade to the Deluxe) had no restrictions on printing as many mailable returns as I wanted. Or at least, I should say, I printed mine and my three children's without having to upload anything. Perhaps there were other limitations that I did not hit.

Having said that, I'll add that Intuit's nickel-and-diming has finally pushed me over the edge, and I am trying H&R Block this year.

xxChip
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by LadyGeek »

I just did my Mom's 2015 return with TaxAct. Since I used TaxAct last year, I was able to import the prior year's return directly.

Now that I had existing forms, it was easy to update the info in the Windows "Explorer-like" forms view.

However, I think the marketing department is going a bit too far. When I ran the Review --> Alerts section, I get a notice "Explanation: Schedule D - Tax Calculation".

"You have benefited from the lower capital gain tax rates... However, since you have capital gains or qualified dividends, you are allowed to compute your tax at the lower capital gain tax rates... This gives you a tax of $xxxx. A savings of $xx... "

Huh? I'm supposed to calculate capital gains taxes using the capital gain tax rates and am not "saving" anything.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by grog »

I intend to use HRB online version which I've used the last two years. My return is simple enough that I can calculate my return in a spreadsheet beforehand and the online software always gets the same answer. For AGI<62K it is free and I do qualify this year (barely). Next year I'll probably be over and might comparison shop a little, but I will enjoy the free online filing while it lasts. For state I use my state's free online service. All I do there is plug in a couple of numbers from my federal return and click submit.

I have tried out TaxAct and the TurboTax online version. TaxAct seemed kind of cheap and clunky, though I think it would get the job done. Turbo Tax seemed very polished, but they tried to charge me money. HRB was free and had a nicer interface than TaxAct.
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Gambler
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Gambler »

Jim Profit wrote:Used TurboTax for 10+ years, until this year due to their slimy tactics. Using H&R Block software this year, haven't done much with it yet but looks promising so far.
same here. bought the H&R block software and loaded it on my computer.
but how do you import data directly from stock brokerage houses (schwab, optionshouse, etc) like i could with Turbo tax?

i dont see that option with H&R block?
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livesoft
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by livesoft »

You click on the "Import" button. Not all financial institutions are supported. Click on "Help" for more information.
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Gambler
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Gambler »

livesoft wrote:You click on the "Import" button. Not all financial institutions are supported. Click on "Help" for more information.
i dont see an option to import directly from your brokerage site.
just 'import last years data' and 'import from financial software'. :(
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by livesoft »

i guess you didn't get to the Income reported on 1099-B or 1099-DIV steps yet. But you do see the "Help" option, right?
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Toons »

Gambler wrote:
Jim Profit wrote:Used TurboTax for 10+ years, until this year due to their slimy tactics. Using H&R Block software this year, haven't done much with it yet but looks promising so far.
same here. bought the H&R block software and loaded it on my computer.
but how do you import data directly from stock brokerage houses (schwab, optionshouse, etc) like i could with Turbo tax?

i dont see that option with H&R block?

Might this be of assistance? :happy
"For importing a W-2, H&R Block asks for the employer’s federal Employer Identification Number (EIN). I entered my employer’s EIN found on my W-2. It says it’s eligible for importing because my employer uses ADP for payroll.
For importing 1099’s and 1098’s, H&R Block software lists a number of financial institutions in a scroll box."
http://thefinancebuff.com/import-w2-and ... where.html
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Gambler
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by Gambler »

livesoft wrote:i guess you didn't get to the Income reported on 1099-B or 1099-DIV steps yet. But you do see the "Help" option, right?
ahh no. i have to get to that specific page to get the option to d/l directly from my brokerage site?! unintuitive software!
i see it now. thx

and yes, i did goto Help.
it was useless.

i typed in 'import' and it said 'no keywords match my entry' :(
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by joe8d »

FYI: Used Free Tax USA this year.Worked out very well.Free Fed+e-file for all.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by PaddyMac »

Contemplating using TaxAct this year instead of using a CPA. We have a Partnership and our personal taxes.

Is anyone using TaxAct business (online) to file a Partnership return?
Cost is $49 (compared to hundreds of dollars with our CPA).
https://www.taxact.com/business-taxes/o ... rship-llc/

We have to enter everything into an online worksheet with our CPA anyway, so figuring that it's no harm trying TaxAct and see how we get on.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by FreddieG »

shelanman wrote:I'm continuing to use TaxAct this year.

I really don't like TaxAct very much, compared with TurboTax. Oh, it does all the same things, but it's just less friendly and less well-made than TurboTax.

But, Intuit is an awful, awful, awful company that I really hate supporting, and TaxAct is much less expensive -- and taxes are high enough, thanks much, without having to spend a fortune on software to do the paperwork.
Couldn't agree more about a dislike of Intuit. I used HR for the first time this year.

No problems importing TT, and the interface was nice.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by ProfessorX »

If i'm used to using Turbo Tax is it worth it to switch to Tax Act? How much do I save? I usually spend less than $100 on Turbo Tax. I'd rather do the easiest thing than save a few bucks. How easy is Tax Act compared to Turbo Tax?
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FiveK
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by FiveK »

ProfessorX wrote:If i'm used to using Turbo Tax is it worth it to switch to Tax Act? How much do I save? I usually spend less than $100 on Turbo Tax. I'd rather do the easiest thing than save a few bucks. How easy is Tax Act compared to Turbo Tax?
That will be in the eye of the beholder. We had used TT for years. Last year we used both TT and TA for comparison. This year it's TA only. Full price for federal plus one state in TA is ~$30. There are usually various deals for less, particularly earlier in the year.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by CABob »

ProfessorX wrote:If i'm used to using Turbo Tax is it worth it to switch to Tax Act? How much do I save? I usually spend less than $100 on Turbo Tax. I'd rather do the easiest thing than save a few bucks. How easy is Tax Act compared to Turbo Tax?
Over the years I have used TurboTax, TaxAct, H&R Block, and some others that have since gone away. I did not find it to be a problem switching from one product to another. You my find that using a different application will not allow you to import data from the prior years return. YMMV
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by travellight »

@trapper and any others who might know:

how can I import my last year's tax return that was prepared by a CPA and therefore no prior history on turbotax, taxact or HRB? I tried turbotax online and it does not give that option. It appears maybe I can do it if I get the download version but do I have to pay first to buy the download? What I liked about online versions was that I get to try it out for free and then pay when I file.

I want to go with whichever gives free imports of my CPA's return last year and all bank documents through mint dot com. I want to be consistent with all reported data to lessen audit risk and error/variation.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by LadyGeek »

Do you have a PDF containing the return data?

The best way I've found to import into TaxAct (aside from having the tax file itself), was to do a split screen. The PDF on the left, TaxAct on the right. From the PDF, select the number then copy-n-paste it into the tax form.

The error comes from mistyping a number. Copy-n-paste will take the number as a whole - there's nothing to mistype. Tedious? Yes, but it will also force you to review what you're doing.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by dodecahedron »

LadyGeek wrote:Do you have a PDF containing the return data?

The best way I've found to import into TaxAct (aside from having the tax file itself), was to do a split screen. The PDF on the left, TaxAct on the right. From the PDF, select the number then copy-n-paste it into the tax form.

The error comes from mistyping a number. Copy-n-paste will take the number as a whole - there's nothing to mistype. Tedious? Yes, but it will also force you to review what you're doing.
I agree there's a lot to be said being forced to review what you're doing, but a lot of the value of the important function for me is not just about copying numbers but rather importing the institutional payor/payee names, fund names, addresses, EINs, and other data from the W-2s and 1099s and 1098s from last year. There's a lot of data underlying a tax return that will not be on the final form itself. It's nice to have all the W-2s, 1099s, and 1098s from the prior year imported and already populated with everything but the dollar numeric fields, so the only thing that needs to be done is to fill in this year's numbers in the appropriate fields when payors/payees remain the same from year to year, delete the forms where the relationship has been terminated (i.e., old jobs you have quit or institutions where you have closed accounts prior to 1/1/2015) and enter the new ones.

Very happy that HRBlock software did all this for me when I moved from TurboTax last year.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by travellight »

Thanks for the suggestions. It sounds like there is no easy way for the first time.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by my name »

I am very happy with the way TT handles my taxes every year. There is a reason it is the leading software for taxes. It has clearly led me through doing taxes for real estate and selling that, an area pretty complicated to me, as well as does a great job letting me make a copy to play with the company ESPP stock lots and projecting what will happen if / when I sell (some of) that. And great free tax help to complex questions. Peace of mind, and getting the Premier version for $55 was a deal. I have no problem paying a few dollars more than what TA seems to go for.
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by JDCarpenter »

I bought TurboTax and have completed our return, but found out that we overwithheld.

Now will buy HRBlock product and file with it to get the 10%, which unfortunately will more than pay for both programs. Will be a nice opportunity to do a side by side comparison of the products.

(using 110% safeharbor in a year that your income goes down is not a good outcome! :oops: )
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Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by tractorguy »

I've historically used Turbotax because of Vanguard's Flagship member discount. This year, I've entered data into the online versions of both Taxact and H&R Block's program. I found H&R Block's easier to use, has better documentation, and is significantly faster to use than TaxAct. I will probably use only it in the future. However, because I went to the trouble of putting data into Taxact, it is claiming the same refund, & because it's cheaper, I'm going to file this year with it. Unless Turbotax lowers their prices to be competitive with H&R Block, I'm not going back to them. Turbotax prices are too high for a product that doesn't provide any more value than H&R Block.

As background, I've got a moderately complicated form with a pension, investment income, and some 1099-MISC income from a consulting business. This requires the premium version of all three programs. Both TaxAct and H&R Block imported my 2014 turbotax return from a pdf with no problems. H&R Block allowed me to import investment income data from Vanguard, TaxAct didn't. Doing the import and then checking it (no errors) was much faster than inputting all the numbers and then correcting my typos as I had to do with TaxAct. Also, TaxAct was much, much slower to switch screens. Every now and then, it just went away for 30 seconds or so and even when it wasn't doing this, it was slower to load than H&R Block. This was at a time, during the day in the middle of the week in February, when their servers shouldn't be too highly loaded. I'm guessing its going to be really slow in early April.
Lorne
travellight
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Location: San Diego

Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by travellight »

I just read that filing prices go up as we approach 4/15. For someone who may get a small refund, does it make sense to file an extension and then purchase and pay at a lower cost by filing when costs go back down after 4/15? I have done extensions for the past 3 years because my research showed that audit risk went down.
364
FLC41
Posts: 19
Joined: Mon May 04, 2015 3:43 pm

Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by FLC41 »

Like many in this thread, I used TurboTax for many years. My distaste for Intuit has led me to make the switch to H&R Block this year.

The programs are fairly similar and to this point in the process, with my Federal return prepared but not yet filed, the change hasn't been too bad. I wanted to mention, however, that for anyone who makes in-kind charitable deductions, I found TurboTax's ItsDeductible program to be much easier to use, and more comprehensive, than the equivalent H&R Block program, DeductionPro.
dowse
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Joined: Tue Sep 10, 2013 3:10 pm

Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

Post by dowse »

I switched from TT to TaxACt a couple of years ago. Although TaxAct is cheaper, I've found that it is very weak on handling the sale of ESPP shares and RSU's. For ESPPs, if forces you to do some of your own calculation in order to take into account how much has already been included in your W2 by your employer. I have learned to deal with it, and plan to stick with TaxACt for the foreseeable future.
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