Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (32) | Ignore Thread Prev Thread | Next Thread
Author: AlisonWonderland Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Tax Software Date: 2/2/2009 5:57 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Another reminder that I'm a dinosaur.

This morning, I went through the process of refinancing my first mortgage. I was asked to bring copies of two years of tax returns, along with all sorts of other documentation. Here's what the loan officer said when he saw the tax returns:

"Wow, I haven't seen any handwritten tax returns in a really long time!"

The last time I considered tax software, I freaked out when the instructions said to start out with backing up my system.

Don't know if I'll join the 20th (not a typo) century, but what software do folks prefer, and why?

~~ Alison
Print the post Back To Top
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104171 of 121219
Subject: Re: Tax Software Date: 2/2/2009 6:08 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
Don't know if I'll join the 20th (not a typo) century, but what software do folks prefer, and why?

I use TaxAct because it's cheap.

Phil

Print the post Back To Top
Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104172 of 121219
Subject: Re: Tax Software Date: 2/2/2009 6:19 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I use Turbo Tax for my family's returns. It's a matter of habit, more than anything.

From what I've seen here, the other leading do-it-yourself programs (Tax Act and Tax Cut) are good too.

If you're used to doing it by hand, you should appreciate that you can save the job and go back to it, and not have to sweat any changes, with erasing, writing over, etc.

Bill

Print the post Back To Top
Author: Bob78164 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104174 of 121219
Subject: Re: Tax Software Date: 2/2/2009 6:36 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 8
AlisonWonderland writes (in part):

Don't know if I'll join the 20th (not a typo) century, but what software do folks prefer, and why?

I reply:

Ticonderoga No. 2 for the runthrough. Bic Medium Point for the final. --Bob

Print the post Back To Top
Author: wrjohnston91283 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104176 of 121219
Subject: Re: Tax Software Date: 2/2/2009 8:07 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I work for a franchised business, and I often see corporate returns handwritten. Many of our franchisee are the type who simply want to do everything themselves, including all the bookkeeping and tax records.

Oftentimes the handwritting leaves a lot to be desired - I don't know HOW the irs was able to decipher some of the handwritting on them.

WRJ

Print the post Back To Top
Author: sandyw54 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104178 of 121219
Subject: Re: Tax Software Date: 2/2/2009 9:27 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
what software do folks prefer, and why?


I used TT for about 7 years until this year. I was familiar with the process and my returns are always simple so the basic version was fine for me. This year I decided to try TaxAct because it if free. Both programs got me the same results to the penny. The only disadvantage of using the basic version of TaxAct if that it will not import the previous years information automatically. But my time is cheap so I don't mind entering it all anew each year. It's hard to beat free.

Sandy

Print the post Back To Top
Author: jjaym Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104184 of 121219
Subject: Re: Tax Software Date: 2/3/2009 7:08 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I've mostly used TurboTax, but sometime over 12 years ago used some other shareware tax software once (don't remember the name). Starting last year I've been doing tax returns for other people and the women that I work with uses Drake Software, which is professional tax software and not cost-efffective for an individual. I'll use that for mine this year, since it's already paid for. I'll probably have to re-enter some data though since I used TurboTax last year.

You might check these out. Maybe there is something you can use that won't cost a lot.

http://www.free-tax-software.net/

Print the post Back To Top
Author: tootru Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104186 of 121219
Subject: Re: Tax Software Date: 2/3/2009 8:54 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 5
AlisonWonderland writes (in part):

Don't know if I'll join the 20th (not a typo) century, but what software do folks prefer, and why?

I reply:

Ticonderoga No. 2 for the runthrough. Bic Medium Point for the final. --Bob



Uh, that's hardware. The software is the mush grey stuff between your ears.

t.

geek for hire

Print the post Back To Top
Author: YewGuise Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104187 of 121219
Subject: Re: Tax Software Date: 2/3/2009 9:17 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
For several years I used TT and also did all the calc's by hand, to check that results matched. They did. I wasn't using software to "do" my taxes, only to check my math and to produce easily-readable returns. After I got hit with AMT, I still did the calc's by hand for a couple of years, but then threw in the towel.

Now I use TT and just trust that they do it right. The main reasons I use software now are:
- AMT is too hard to calculate by hand,
- I do DS's taxes, and he buys and sells stocks. With TT, I can download all his info (interest, dividends, sales) directly from Scottrade, and TT puts everything in the right place on the tax forms. The only thing I need to keep track of is his stock buys, to establish cost basis, and I maintain a separate spreadsheet for that (BTW, if there's been a stock sale, TT prompts for the buy info, which is convenient),
- I can file DS's taxes online,
- I don't file my taxes online, so it's nice to have all the numbers "typed" in the hard-copy I mail in. I think it reduces the number of data-entry errors on the other end.

This year I was going to switch to TA or TC, when TT planned to charge extra for the 2nd return, but they dropped that plan, so I got lazy and bought TT again because I'm familiar with it. For a simple return, though, (i.e., no AMT, stocks, etc.), I wouldn't recommend TT. I'd just use the cheapest software available.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post Back To Top
Author: Crushagrape One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104190 of 121219
Subject: Re: Tax Software Date: 2/3/2009 10:12 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
YewGuise suggests:

For a simple return, though, (i.e., no AMT, stocks, etc.), I wouldn't recommend TT. I'd just use the cheapest software available.


Will the cheaper software (TaxAct or TaxCut) satisfactorily handle AMT, if to your surprise you find you are subject to the AMT?

Thanks for your input and opinions.

Crushagrape

Print the post Back To Top
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104192 of 121219
Subject: Re: Tax Software Date: 2/3/2009 10:53 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
Will the cheaper software (TaxAct or TaxCut) satisfactorily handle AMT, if to your surprise you find you are subject to the AMT?

All software will let you know. None of it will deal with it properly if you don't understand how it works, with its parallel universe nature.

Phil

Print the post Back To Top
Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104195 of 121219
Subject: Re: Tax Software Date: 2/3/2009 11:44 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Will the cheaper software (TaxAct or TaxCut) satisfactorily handle AMT, if to your surprise you find you are subject to the AMT?

Yes.

Been using TaxAct for a while, and it does handle AMT.
I've been happy with TaxAct - First, they are cheaper. Second, they haven't pulled some of the same things that TT has, like the recent backtracking on charging more for a second return or the issue a few years ago where they were installing malware on your computer as part of their installation.

Print the post Back To Top
Author: twputnam One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104197 of 121219
Subject: Re: Tax Software Date: 2/3/2009 11:57 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I question whether or not TaxAct handles AMT correctly or not. It assumes that I "took" depreciation on my rental property on Schedule E and adds that depreciation back into the AMT calculation, EVEN though, the depreciation deduction WAS NOT taken because the Schedule E loss was not allowed because my AGI was above $150,000.

My reading of the AMT rules is that the Depreciation should not be added back into the AMT calculation unless you were allowed to take it.

Terry

Print the post Back To Top
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104201 of 121219
Subject: Re: Tax Software Date: 2/3/2009 12:44 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I question whether or not TaxAct handles AMT correctly or not. It assumes that I "took" depreciation on my rental property on Schedule E and adds that depreciation back into the AMT calculation, EVEN though, the depreciation deduction WAS NOT taken because the Schedule E loss was not allowed because my AGI was above $150,000.

My reading of the AMT rules is that the Depreciation should not be added back into the AMT calculation unless you were allowed to take it.


This is an example of what I was talking about when I said no software is going to handle it alone. You basically have two different rental properties--one being tracked under regular tax, and one being tracked under AMT.

BTW, you should be claiming the depreciation on Schedule E. You're going to get dinged for it when you dispose of the property, so you're really better off to keep everything straight as you go along.

Phil

Print the post Back To Top
Author: twputnam One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104203 of 121219
Subject: Re: Tax Software Date: 2/3/2009 1:47 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Yes I am taking depreciation on Schedule E as I can take any deferred losses when I sell the rental.

As far as 2 separate tax systems, I understand that, however, the AMT system does not allow me to deduct the rental depreciation as I am above the AGI limit of $100,000, yet TaxAct adds the rental depreciation back, incorrectly, I believe.

Thanks for any further clarification you can provide.

Terry

Print the post Back To Top
Author: synchronicityII Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104206 of 121219
Subject: Re: Tax Software Date: 2/3/2009 3:46 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I use excel to do the calcs and download the forms from the IRS website. But like many who post on this board, you shouldn't copy that but rather get some decent software.

But yes, I'm lucky, I can save $60 (or whatever) every year by not having to buy tax software! And for this privilege I spent...er...uh, carry the 2...well, I think I'll break even in another 1500 years. ;-)

-synchronicity, OK, there were other benefits that accrued.

Print the post Back To Top
Author: geocarw Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104221 of 121219
Subject: Re: Tax Software Date: 2/3/2009 11:26 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I use excel to do the calcs . . .

but then I use TaxAct to double check and then efile for free.

George

Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104223 of 121219
Subject: Re: Tax Software Date: 2/4/2009 12:45 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
This thread shouldn't exist. The IRS should handle all tax filing for individuals, not Intuit or H&R Block or Tax Act. I should be able to go to a web site operated by the IRS and enter my raw data. The IRS would then figure my taxes and that would be that. The data would go directly into the IRS computers and there would be no gouging the public with e-filing fees -- on the contrary, e-filing should be free and there should be a fee for processing paper returns. There would be no questioning whether this or that part of the tax code was interpreted correctly because, being the IRS, the calculations would be correct ipso facto. It should be free, as well. The cost of collecting taxes should be part of the IRS' cost of doing business, not an additional burden to the taxpayer. But seeing as our tax system is desperately antiquated this will probably never happen.

I use excel to do the calcs and download the forms from the IRS website.

I am going this route this year. I have yet to find tax software which gets it all correct. They all have some fly in the ointment and you wind up having to right their wrongs. I used to use CompleteTax but I don't like the way they are handling certain things this year so I'm giving them the heave-ho. However it is convenient to have these programs figure state tax as well as AMT.

Print the post Back To Top
Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104224 of 121219
Subject: Re: Tax Software Date: 2/4/2009 1:11 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
There would be no questioning whether this or that part of the tax code was interpreted correctly because, being the IRS, the calculations would be correct ipso facto.
The IRS isn't the final arbiter of what's correct though.
So if you disagree with the IRS's interpretation, you'd have to file a lawsuit, instead of them coming to you to try to collect the taxes they think you owe.

As it is now, a lot of people can e-file for free using somebody's software. And IMO that's a move by the software makers to make it less appealing to people for the IRS to do exactly what you propose. (Intuit, 2nd Story, etc. can lobby congressmen saying "you don't want the IRS to do that - we already provide this for the majority of your constituents, so it'd be an extra cost for the IRS thats currently being borne by private business"

Print the post Back To Top
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104226 of 121219
Subject: Re: Tax Software Date: 2/4/2009 1:20 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 7
The IRS should handle all tax filing for individuals, not Intuit or H&R Block or Tax Act. I should be able to go to a web site operated by the IRS and enter my raw data. The IRS would then figure my taxes and that would be that. The data would go directly into the IRS computers and there would be no gouging the public with e-filing fees -- on the contrary, e-filing should be free and there should be a fee for processing paper returns.

I'm iffy on the charge to paper file, but otherwise, hear, hear! I've been filing state returns through their websites for years. Lots of people at IRS agree, but not enough to make it happen. There's also a problem that has plagued e-file from the beginning: the software/prep industry. Because of the complexity of the law it's unreasonable to expect everyone to be able to file unassisted, and IRS doesn't have, and isn't likely to get, the resources needed to advise them. There's also a perfectly understandable reluctance to install the IRS as the sole authority on tax law. As is the case with so many things in Washington, there's a public/private tension that's not easily resolved, especially with Congress dipping its oar in at regular intervals.

There would be no questioning whether this or that part of the tax code was interpreted correctly because, being the IRS, the calculations would be correct ipso facto.

Direct web filing wouldn't solve interpretation problems. What you're talking about is at its highest level fifth grade arithmatic. The interpretation problems involve what numbers to put on the return, not how to crunch them once they're there.

It should be free, as well. The cost of collecting taxes should be part of the IRS' cost of doing business, not an additional burden to the taxpayer.

The cost of administering the system is part of IRS's cost of doing business. Who do you think pays the bills? Well, OK, nowadays it's the Chinese who'll lend us money, but in the grand scheme, the taxpayers pay no matter how you handle the accounting.

Phil

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104227 of 121219
Subject: Re: Tax Software Date: 2/4/2009 1:27 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
IMO that's a move by the software makers to make it less appealing to people for the IRS to do exactly what you propose. (Intuit, 2nd Story, etc. can lobby congressmen saying "you don't want the IRS to do that - we already provide this for the majority of your constituents, so it'd be an extra cost for the IRS thats currently being borne by private business"

I agree, except that the cost is not borne by private business, it's ultimately borne by taxpayers -- you and me. We pay to use Turbo Tax, etc. and part of what we pay goes to feather the nests of Intuit and the rest.

Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104230 of 121219
Subject: Re: Tax Software Date: 2/4/2009 1:39 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I've been filing state returns through their websites for years.

Which states? Does California have anything similar to what I've described?

Print the post Back To Top
Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104231 of 121219
Subject: Re: Tax Software Date: 2/4/2009 1:43 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I agree, except that the cost is not borne by private business, it's ultimately borne by taxpayers -- you and me.
No - I'm talking about the "free" offers to file from various companies.
Those costs are being borne by the advertisers and those people who upgrade to the non-free version.

IIRC, if you can file with a 1040EZ, you don't have to pay anyone to efile. And even if you need to do a 1040, if you aren't outside of certain boxes, you don't have to pay if you don't want to. (and the boundaries of those boxes depend on which tax software company you look at)

Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104232 of 121219
Subject: Re: Tax Software Date: 2/4/2009 1:51 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Direct web filing wouldn't solve interpretation problems. What you're talking about is at its highest level fifth grade arithmetic.

Exactly. I tried one on-line service, which I will not use again, which wants to count union shop steward pay and juror pay as "income from property held for investment". Now I graduated from the 5th grade and I don't see how steward or juror pay can be considered "income from property held for investment". So now I have to go in and correct what I consider to be an error. I'll have a smaller refund as a result but I won't spend a morning explaining their interpretation to an IRS auditor only to have to pay the difference plus interest and penalties.

Print the post Back To Top
Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104235 of 121219
Subject: Re: Tax Software Date: 2/4/2009 2:25 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I tried one on-line service, which I will not use again, which wants to count union shop steward pay and juror pay as "income from property held for investment".

To be honest, that sounds like an input error - like the information was entered in the wrong place in the software. I really doubt any reputable software would make that kind of mistake. On which line on the 1040 was the software putting that income?

Care to name the on-line service?

--Peter

Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104236 of 121219
Subject: Re: Tax Software Date: 2/4/2009 2:57 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I really doubt any reputable software would make that kind of mistake.

According to them it's not a mistake, it's by design. I emailed them about it and they told me that's where they think it should go. It's not on form 1040, it's on line 4a of form 4952 which specifically says income from property held for investment. I fail to see how steward and juror pay are income from property held for investment.

In addition, deductions for union dues and tax preparation fees totalling over $2,000 are nowhere to be found on their schedule A.

Print the post Back To Top
Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104238 of 121219
Subject: Re: Tax Software Date: 2/4/2009 3:17 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
It's not on form 1040, it's on line 4a of form 4952

I understand that. But where were these items reported on the 1040? 4a of 4952 draws together various items from the 1040. So if the income was on the wrong line of the 1040, it could easily end up included on the 4952 when it shouldn't.

In addition, deductions for union dues and tax preparation fees totalling over $2,000 are nowhere to be found on their schedule A.

That's even more basic stuff than dealing with investment interest expense. I'll almost guarantee that any software will get these two right. Which makes me think they weren't input where the software was expecting to see them.

Again, can you name the software? Others can either help you input things correctly, or we can all avoid some pretty lousy programming.

--Peter

Print the post Back To Top
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104239 of 121219
Subject: Re: Tax Software Date: 2/4/2009 6:14 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I've been filing state returns through their websites for years.

Which states? Does California have anything similar to what I've described?


KS, MD & IL. I don't know about CA, as I was paroled from there more than 20 years ago.

Phil

Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104242 of 121219
Subject: Re: Tax Software Date: 2/4/2009 7:52 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I'm not going to reveal the name of the program just yet.

This program requires you to go through the interview process and there is only one place to logically enter these things: in the "other income" section. These items appear on line 21 of form 1040, which is correct, but they are not from "property held for investment" so they should not flow to 4952. It correctly has my interest and dividends going to 4952.

I'll almost guarantee that any software will get these two right.

Think again. There is only one place to enter "miscellaneous deductions" and there are fields explicitly for union dues and tax preparation fees, but they are not appearing anywhere on schedule A.

I've used this software for several years now and know where and how to enter the data, and it has handled these things correctly in the past.

Print the post Back To Top
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104243 of 121219
Subject: Re: Tax Software Date: 2/4/2009 8:15 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
There is only one place to enter "miscellaneous deductions" and there are fields explicitly for union dues and tax preparation fees, but they are not appearing anywhere on schedule A.

Would they affect the return if they did? IOW, do you have enough miscellaneous deductions to top the 2% exclusion? (IIRC you mentioned that you do itemize.)

Whether they would affect the return or not, I do think they should show up on the Schedule A just to avoid user confusion about whether they're lost somewhere.

Phil

Print the post Back To Top
Author: chris319 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104247 of 121219
Subject: Re: Tax Software Date: 2/4/2009 10:25 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Would they affect the return if they did? IOW, do you have enough miscellaneous deductions to top the 2% exclusion? (IIRC you mentioned that you do itemize.)

Yes, it would affect the amount of the tax.

Print the post Back To Top
Author: JAFO31 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 104257 of 121219
Subject: Re: Tax Software Date: 2/4/2009 4:13 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
chris319: "I agree, except that the cost is not borne by private business, it's ultimately borne by taxpayers -- you and me. We pay to use Turbo Tax, etc. and part of what we pay goes to feather the nests of Intuit and the rest."

OCD - I agree, except that the cost is not borne by private business, it's ultimately borne by some taxpayers -- you and mei.e., those who buy the software.

Regards, JAFO

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (32) | Ignore Thread Prev Thread | Next Thread
Advertisement