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What is the best tax software to use? I used TaxAct last year - mostly because it was free. Is Turbo Tax going to save me enough money to justify the cost? Is it worth it to spend more for the premium editions?

My finances are relatively simple - pretty typical deductions (mortgage, student loans, etc.). Pretty much all investments are in retirement accounts, so nothing fancy tax-wise to deal with investment income.


Use the cheapest one you can find. Make sure that there is a credit for the telephone excise tax on line 71 of the 1040 before you file. I've seen two 2006 software packages so far, and they handle the credit in different ways. If you don't see an entry on line 71, right-click on that line and you should be able to link to the "trigger" for the software package you're using.

Phil
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