So many Turbo Tax Updates - Should I wait to file?

[leojen2]

I finished my taxes in early February (TurboTax desktop) but I did not file yet because every time I open Turbotax there is some important Update. I am afraid to file because I don't want to miss some important update and I don't want to have to amend my taxes because of another TurboTax update I missed for filing too early.  

Should I wait till the last minute in April before I file, just in case TurboTax has more important updates that may affect my return?

[fanfare]

Always print a copy of your completed tax return for your records, and review it carefully before e-Filing.
You will need it if you are audited by the IRS, or to amend if a TurboTax update changes your return or for any other reason,

AND, to find your AGI next year.

If you don't know what you're looking at, you may want to wait for more updates.

[leojen2]

Thanks fanfare but what has that to do with my question? Yes Obviously I will print (PDF) my tax return. Also "I know what I am looking at"  My question is since every time I open Turbo Tax I see an update, that makes me wonder if I should wait to file closer to April 15th in case there is an update that potentially could change my return that I would miss out if I file too early.  That is the question. 

[ColeenD3]

Unless there is a specific form you are missing, you are good to file. You are not missing anything that pertains to you.

[SteamTrain · Accepted solution]

@leojen2 

1)  My brother always waits until Mid-late-March to e-file because his investment account contains some REITs that do not report their 1099-DIV $$ until the first 2 weeks in March.....and amending later is a pain.

2)  Yes, there are many updates being made all the time, but by the end of Feb, it's usually only for complex situations....and sometimes certain state "issues" that don't get corrected until sometime in February.  IF your tax return is fairly simple, most simple situations have been corrected by now......but if you are not in a rush, you can wait until the end of March to E-file.   Don't wait to try to file in the last 10-14 days before the deadline....a gazillion other people are panicking those last 2 weeks and the e-file computers get overloaded.....and if your e-file is rejected for any reason, you want a few days to correct it.

3)  Of course, some people have to wait until the 1st of April anyhow. If you took a Coronavirus emergency distribution from a retirement account in 2020, and spread the distribution over 3 years, you'd have to wait until the form 8915-F becomes available anyhow  (Currently scheduled for 31 March, but "might" be ready sooner).

[millerpata]

I'm having issues with the updates being applied and the app starts up new so all my data is gone.  I finally started saving and copying to a different folder and then once updated, copying the file back into TurboTax folder.  Frustrating as this has never happened in the past years.  

[SteamTrain]

@millerpata 

Very strange.  I have Premier on Windows 10 Computer, and have no such issues.....many (10 or 15) test files too as I "help out" in here testing different situations....and they are always there after every update.