Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 2
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.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.