The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/ive-heard-that-its-possible-to-use-turbotax-16805079.aspx

Subject:  Re: Newbie Turbotax question Date:  2/26/2002  7:13 PM
Author:  pmarti Number:  59327 of 121338

I've heard that it's possible to use Turbotax like an electronic version of pencil-and-paper, where you see the tax forms on the screen and you fill in your data from hardcopy W-2's, 1099's, etc.

You can, but if you've never used the program before, I urge you not to. IMO it's important for you to learn how the program "thinks." I recommend that the first time you use it you do the interview process. Then, after your return is done, spend some time analyzing how TT processes the information, e.g. what forms or worksheets it puts the raw data on, and how it winds up on the return. (A right-click on any field on the return will take you backwards through the process.)

Once you're comfortable that you know how the program processes data, you can proceed to the forms approach.

Phil Marti
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us