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AndyB1
New Member

My tax situation will be changing this year. Can I use Turbotax to estimate taxes in different scenarios? For example, retirement, roth conversions, sell second home?

 
3 Replies
Carl
Level 15

My tax situation will be changing this year. Can I use Turbotax to estimate taxes in different scenarios? For example, retirement, roth conversions, sell second home?

Try taxcaster and see if that meets your need. Note that it's still set up for 2021 since proposed tax law changes for 2022 are not yet law.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

rjs
Level 15
Level 15

My tax situation will be changing this year. Can I use Turbotax to estimate taxes in different scenarios? For example, retirement, roth conversions, sell second home?

TurboTax Online is not suitable for trying out different scenarios. The CD/Download TurboTax software has a What-If Worksheet that lets you quickly and easily try out different scenarios using your completed tax return as a starting point, but without affecting the actual tax return. The worksheet lets you compare the scenarios side-by-side, and it has a checkbox to make it use 2022 tax rates.

 

Mike9241
Level 15

My tax situation will be changing this year. Can I use Turbotax to estimate taxes in different scenarios? For example, retirement, roth conversions, sell second home?

certain items other than tax rates may not have been updated for 2022 like the standard deduction.

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