Itsdeductible being discontinued.. WHAT???

[ColonelB]

Exending Itsdeductible to benefit those of us readying our 2022 taxes is a minimum; it should be kept long-term.  I have appreciated all of the replies to my post and the advice that H&R Block may be the way to go.  As I told the CEO, I have a long history with Turbotax, including being a beta-tester for several years.  So I feel kind of dissed by Intuit's arbitrary decision.  (I know, it's not all about me!)

[ColonelB]

Thanks for your suggestions, even though it will mean I will have to go back and redo some entries.  At least, the St Vincent de Paul cite gives some figures I can use if all else fails.  Looks like H&R Block is going to gain a customer, and the uncaring minions at Intuit are going to lose one.

[noodad]

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@Critter-3 wrote:

Things you buy that do not depreciate are treated like cash donations ... if you are ever audited the fact you have a cash receipt and the donation slip within a short time period would support the "cash" donation.  

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Basically like @Fairfax_George said when purchasing non-perishable food items to donate? I would think you could treat this as "Out-of-Pocket Expenses in Giving Services" (see https://www.irs.gov/publications/p526#en_US_2021_publink[phone number removed]). In the case of @Fairfax_George , they're basically feeding the clients of the food bank, and then deducting the expenses

[noodad]

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@Anonymous_ wrote:

My primary point is, and has been, that there is always the possibility that the developers will include some, or all, of the functionality of ItsDeductible into Mint.

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One could always hope.

But if that were the plan, the time to do that would be before cutting off the existing solution, not after

[noodad]

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@SweetieJean wrote:

Can't imagine that it costs Intuit that much to maintain it

Well, someone has/had to maintain and update the thousands of values in it.

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Most likely not exactly. They had data feeds from eBay and wherever else which they were using to base their values on. So it was automated

[Anonymous_]

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@noodad wrote:
But if that were the plan, the time to do that would be before cutting off the existing solution, not after

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I agree that the timing was not exactly great. On the other hand, this was a business decision and the company's primary duty is to its shareholders (even if any given decision means some customers are negatively impacted).

[mtiede]

I hate it when you buy something because of the features and then the features are removed.  I've used ItsDeductible with TurboTax and was thankful for it.  Now, not so much, from a LONG time customer.

[DKB25]

While TT is free to make a business decision to eliminate ID, they stepped over a line when they shut down after clients had entered hundreds of donations .  While probably legal, I regard this as unethical.

Speaking for myself  I had entered over 250 separate items  (18 separate  trips) into ID which I will now have to copy from a PDF into my 2020 federal tax.  

I no longer trust TT to ethically handle my financial information and will be looking elsewhere for tax preparation.

[sjobrivera]

I also pay for Turbotax every year, plus about $100 of add-ons (transmitting state returns, one additional state return). I’d rather pay yet another premium to be able to continue using its deductible than having to guess on valuations and uploading myself. Turbotax has gotten so expensive to use. The main reason I stick with TurboTax is because of the convenience of its deductible and the carryover of information year after year. I’m disappointed. 

[Mountain5]

TaxAct Donation calculator: The Deluxe, Premier and Self-Employed packages all incorporate TaxAct Donation Assistant, which is helpful for quickly finding the deduction value of donated clothes, household items and other objects.  It also imports into TaxAct.

[DKB25]

Couldn't find out anything about Donation Assistant online.  Is it a stand alone product?  If so, what's the cost?

Can donations be entered at the time they are made?    

[Anonymous_]

@DKB25 Just do a search using those two words plus TaxAct as search terms and you will find some information.

[Alchemist6]

I have to agree with most of the posts related to the extremely poor method Intuit used to notify customers that Its Deductible was being eliminated.  It has been a great tool for tracking non-cash donations to Goodwill, etc.  I would have been willing to pay for it if given the option.

I will now attempt to locate another app that does the same (do not tell me "Mint", because it is a piece of crap for non-cash donations).  Which means, for the first time in approximately 20 years I will be shopping for a new tax software.  

[Alchemist6]

I appreciate the suggestion to use H&R Block software.  Time to look for something new.  Intuit has become a disappointment since they split from Quicken.

[Alchemist6]

Thank you!!!  Every little bit helps since Intuit left us high and dry.