Filing With Third Party Professional

Forum|Forum|3 years ago
May 12, 2023
2 replies
198 views

Hi,

I would like to use TurboTax to fill out my federal and state taxes, which very simple as I take the standard deduction. I am working with a non-Turbo-Tax professional who will complete my foreign business filings. What is the best way to share my completed filings with him so he can file the entire package successfully, and what TurboTax product do I need to buy, or will the free version work?

Opus 17

Level 15

I'm confused as to how you can prepare a correct tax return without your foreign business income?

If you use Turbotax online, you can get two types of output. You can download your tax data file containing a partial or completed tax return without paying. Whether this will be useful to your professional is something you have to ask them. Professionals who use Intuit's professional software might be able to import the consumer software datafile, but I don't use the pro series so I don't know. I suspect that if they use another company's software, they won't be able to use the data file. But you have to ask them.

You can also print your tax return on paper, or save it as a PDF. Since a PDF return could be printed and filed, you have to pay any Turbotax preparation fees before you are allowed to print, unless your tax return qualifies for free filing. I can't tell you if you qualify for free filing because I don't know your situation. A tax professional might be able to import from the PDF, but again, you have to ask them.

ZeroBadCooksAuthor

Level 2

@Opus 17 Yeah, that's what I am trying to get at, and I agree I need to ask what the tax preparer he can do.

The preparer charges per form, so he is charging about $600-$700 for just federal and state income taxes, which is the 1040 plus whatever state forms needed. This is basically just my U.S. employment.

I am trying to figure out if I can do the basics, save the $600-$700, and have him combine it with his work and file the package.

I really don't mind paying whatever for TurboTax if I can figure out an easy way to share my work and save the money. So, I think I have the data file, a PDF, and it's also been suggested that I create a unique tax account and share the login info with him if that works.

Opus 17

Level 15

@ZeroBadCooks wrote:

@Opus 17 Yeah, that's what I am trying to get at, and I agree I need to ask what the tax preparer he can do.

The preparer charges per form, so he is charging about $600-$700 for just federal and state income taxes, which is the 1040 plus whatever state forms needed. This is basically just my U.S. employment.

I am trying to figure out if I can do the basics, save the $600-$700, and have him combine it with his work and file the package.

I really don't mind paying whatever for TurboTax if I can figure out an easy way to share my work and save the money. So, I think I have the data file, a PDF, and it's also been suggested that I create a unique tax account and share the login info with him if that works.

Talk to your pro, but if you have other forms that change the 1040 you prepare yourself, I expect the preparer will charge you something to revise the 1040. They also probably aren't going to put their name to something that they didn't work on, so if you insist on preparing some forms yourself, they probably at a minimum would refuse to guarantee their work.

If you make a Turbotax online account with your tax info that you share with the preparer, that will be no different than what I outlined above. They would be able to download your data file (assuming it can be imported into their system) or they can save the return as a PDF (but only after paying the fee).

pk_

Level 15

@ZeroBadCooks , Assuming that you are a US person and that your "foreign " business is not a dis-regarded entity , registered under foreign country's laws, pays you dividend etc. you should able to use TurboTax On-Line / download complete your US tax filing easily .

If however, your "foreign" business is sole ownership ownership and is not a corporation ( like an llc ) and whether does business domestically or otherwise , you still will have to file a Schedule-C. Therefore it would be unwise to use TurboTax and another person to d the return -- should be done as ONE return.

I hope I am understanding your situation correctly -- please correct me ( if need be ).

ZeroBadCooksAuthor

Level 2

@pk12_2 I am not worried about what forms are being filed, as they are all correct as the situation has been analyzed exhaustively by several CPAs at this point.

I am really trying to figure out how to best share the 1040/state forms for IL with him so he can complete it. So far I have the PDF, the data file, and perhaps sharing a login for a one-time TT account. I will give him all of the options and see if any work, as I'd like to save the $600-$700 he is charging for federal + state filings.

VolvoGirl

Level 15

I don't know if you can do anything. Can he give you the info and you add it to Turbo Tax and you file it? Turbo Tax is not licensed to be used by paid preparers.

You are not licensed or permitted to use the Software, or to allow the Software to be used, to prepare tax returns, schedules or worksheets on a professional or commercial basis (i.e., for a preparer's or other fee or consideration). Additionally, if you violate these terms, you agree you must indemnify and defend Intuit against any claims or lawsuits, including (without limitation) attorneys’ fees, that arise from or result from the unlicensed use of the Software on a professional or commercial basis.

Online Terms of Service

https://turbotax.intuit.com/corp/license/online.jsp

See Section B Additional Terms

1.3 No Professional Use. You may not use the Services to prepare tax returns, schedules or worksheets on a professional or commercial basis (i.e., for a preparer's or other fee or consideration).