TurboTax is terrible this year - bugs in 1099Q&1098T calculation & removed ItsDeductible for donation - time to switch to other software
Two major problems I encountered w/ TT Premier version this year so far:
1. major bugs in calculating College 529 related items, e.g. 1099-Q and 1098-T forms. My child's college expenses cover 100% of 529 distributions, yet TT still tells me that I have "excess taxable distribution" and I owe $1500+ tax due to its erroneous computation. After checking the online community forum, it seems other parents are facing the same problem, still awaiting Intuit to release an updated software. But it's already end of March, so I highly doubt if any update will fix this problem.
2. I had always used TT's ItsDedutible tool to calculate the market value of my household donation items (clothing, small appliance, etc). This year TT removed this tool w/o any new replacement tool or any helpful tips telling users what to do.
My Conclusion: it's time to change software. I'm considering purchasing TaxCut - I don't trust TT's calculation this year, doesn't hurt to use 2 software and compare the numbers.
