For over 40 years I have prepared my own taxes (personal and Subchapter S) on paper and mailed them in to the IRS and State of California. But I kinda see the writing on the wall regarding filing electronically. Can any or all of you out there tell me about Turbo Tax or others that I should use? I have dividends and capital gains/losses and rental income so the free versions are not applicable. I’m not comfortable with using a CPA or tax preparer.
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Well,
For the first time my wife did the filing with Turbo tax. She elected the “help available” version at a couple hundred.
She is leaning toward the “no help version” next year. We had a couple trusts to file, but that didn’t pose any problems. I had no self employed income this year.
For a change, it all was pleasurable. And saved several hundred from a cpa.
Just throwing it out there that doing your own taxes is like homeowners doing their own electrical or crown molding. I think my tax preparer is worth her weight in gold. The tax code is always changing and there is no way keep up with all of it. Hiring a professional may seem expensive but they can save you a ton of money and make it less likely that you get audited. Just my 2 cents.
Absolutely, tax filing software can make the process much easier for you, especially considering your situation with dividends, capital gains/losses, and rental income. Here's a breakdown to help you decide:
TurboTax:
A popular option with a user-friendly interface.
Offers different tiers with varying features. Their "Premier" version is likely suitable for your needs, handling investments, rental income, and complex tax situations.
Provides step-by-step guidance and prompts to ensure you capture all relevant deductions and credits.