Adventures with turbotax

[johhanna]

Today I  started my joint tax return. At first I was thinking it will be easy and productive.

First of all I choose TurboTax 2019 , just to continue for 2020.

At first everything went ok, I get even to rental properties, and than after that I saw that I need to enter numbers from 2019 ....

Yes , I printed out 60 sheets , 60 sheets  Carl !!! from 2019 ( if I need to compare something or so, but that was tooooo much.)

Than  I started to think that maybe TurboTax from 2019 is not good for 2020 tax return.

and as I know turbo get autopayment for 2020, I started new one. And now 

I am in jungle !!!

Tomorrrow I will continue.

P.S. if somebody want to replay, please do that with simple explanation. That is first time I try to do that on my own.

1.Do you really need to buy new TT each year ?

2. Why they are asking to download something if TT already have tax return numbers for 2019 ?

[xmasbaby0 · Accepted solution]

Each year has its own tax software which has the forms for the specific tax year and which is written to comply with the tax laws for the specific tax year in which the income was received,  You cannot use 2019 software to prepare a 2020 tax return.   It will be all wrong.

IF you used TurboTax to prepare a 2019 tax return last year then you can transfer the 2019 data to save yourself the work of re-entering some of it into the 2020 software.

How to transfer last year’s return? https://ttlc.intuit.com/questions/1900883

You must do that transfer at the very beginning of the 2020 return, before you enter any other 2020 information.

Do you need to purchase 2020 software?

2020 TURBOTAX

CD/DOWNLOAD (This requires a full PC or Mac—-cannot be used on a mobile device)

https://turbotax.intuit.com/personal-taxes/cd-download/

You can also purchase the CD/download from various retailers such as Costco, Amazon, Walmart, Best Buy, Staples, Sam’s Club, etc. etc. etc.

This link Where can I obtain authentic TurboTax software? has a list of authorized TurboTax resellers.

When you use desktop software, there is an additional fee to e-file a state return.  You can avoid that fee if you print, sign and mail the state return.  The state e-file fee is $19.99 and increases in March.

ONLINE 2020

https://turbotax.intuit.com/personal-taxes/online/

And just so you know—online prices go up in March