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Subject:  Re: Future tax scenarios in Turbo Date:  2/28/2021  11:52 AM
Author:  Mike2020R Number:  132116 of 133017

I switched to HR Block software a few years back and now they also make it difficult to forecast future years. Sounds like Tax Act may be something to look at.

I have done future cast in TT years ago and in HR-Block after that.
They have both curtailed the forecasting. Years ago I would buy TT and use it for year one, and then use the forecast to fill out paper returns the following year. Only paid them every other year.

Since the tax code seems to change every year now, that is not recommended.

I now use HR to forecast by running Mock future returns with their software.
Important to make backups of your tax files before trying this.

I take my 2020 file, Open HR and then edit amounts to figure what 2021 will look like. I then save these to PDF and rename them as MOCK-2021, etc.

Close software and put copy of your tax file back in as the original. Make sure it goes into the default folder for the software.

I have also used an online 1040 calculator and have gotten good results. I like this one.
Google search - guidestone 1040 tax calculator

I input all my parameters, run the report and save that as a PDF. Quick and easy to use. The PDF can be renamed to keep track of your scenarios.
You can edit the numbers, run the report each time and save the PDF. Rename them as you go. No personal info is input. Just know that google is watching. I use these cautiously.
I use a VPN and run the search in a google incognito page.
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