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Creditkarma tax...

Frequent Contributor

Creditkarma tax...

I am starting to think about using their tax service.  I've always used H&R, but I'm getting tired of paying for it when there appears to be several free options out there.  Anyone tried it yet.  And sorry in advance if this is the wrong forum. 

Equifax [Citi] Score: 742; Experian [Amex] Score: 734; Transunion [Discover] Score: 729
Creditkarma scores Equifax 792 & Transunion 781
Barclay's Aviator Red -- $8,400; Discover It -- $16,500; US Bank Cash+ -- $7,500; Huntington Bank Voice -- $8,500; American Express Gold Charge Card; Chase Freedom -- $4,000; Barclay's Arrival+ $6,000; Chase Southwest Premier -- $16,000; Citi AA -- $5,500
Authorized User: Chase Freedom -- $6,500; American Express Blue Cash -- $3,500; Sam's Club Mastercard -- $6,000; CSP -- $9,000; Barclay's CashForward -- $5,000
Goal cards: Freedom Unlimited, Chase Sapphire Reserve, Chase Ink Plus
Message 1 of 13
12 REPLIES
New Contributor

Re: Creditkarma tax...

I have! I've never paid for tax software ( I'm young so only my 3rd time filing this year, always done it manually before) but it seemed very similar to my dad's TurboTax. They have 2 different modes. One is designed as a series of easy to understand questions about your income and expenses in different areas. The other looks more like the underlying tax forms and asks you to fill in the blanks. When it's done you click submit and they file for you. I haven't clicked submit yet though because I'm still waiting on some forms from my brokerage.

Overall I thought it was easy to use and there are plenty of little question marks you can click on to see the explanation of what each line is really asking for. Also they do state taxes for free which is nice. One other thing worth mentioning is that they bought a company that was selling this service before so it definitely feels more polished than a first time offering.

My main criticism is the interface is a little clunky if you want to go forward and back. Like when I go back to input my brokerage forms it'll be a little counter intuitive. But if you wait until you have all your documents and go through it once I imagine it would be better. Also they will obviously use this info to generate offers to you for loans, etc so there is the issue of data. Their ceo is adamant they won't sell your info to outside companies but you never know how long until a new ceo comes in.
FICO 08:743 EQ Bankcard from Citi, 764 EX from AmEx, 747 TU from Disc all updated 8/2017

Discover It $8,600 Since 08/2014 // AmEx BCE $23,100 Since 10/2015 // Citi DC $7,000 Since 06/2016 // BoA BBR $1,800 Since 11/2016 // US Bank Cash+ $3,000 Since 11/2016
Message 2 of 13
Valued Member

Re: Creditkarma tax...

I had started using it, but didn't get any farther than inputting my HSA information. For some reason it was trying to tell me that I needed to be taxed on it, even though everything I had entered was correct and should not be taxed. I probably could continue on and see if it figures itself out, but I already have all my stuff entered into H&R Block online and it all shakes out good. 

Message 3 of 13
Member

Re: Creditkarma tax...

I used CreditKarma Tax this year and already got my federal refund. Granted, preparing my tax should be easy since I only have one W-2 and some dividend income to report. I really found their process to be pretty painless and easy to navigate. Will recommend for sure.

Message 4 of 13
Valued Contributor

Re: Creditkarma tax...

I have always used turbo tax for our biz. And then Tax Act for the past 4 or 5 years for personal.  Before that turbo tax for both.   It takes about a week working on and offf to do the business return.  i usually do it in the Spring.  I am sure I owe around $7K am don't look foward to paying it.   

Message 5 of 13
Highlighted
Frequent Contributor

Re: Creditkarma tax...

I just finished my return using creditkarma.  My return was an exact match to what I put in with H&R so I decided to save some money and filed with creditkarma.  Great experience.  Felt smooth, no glitches and 100% FREE! 

Equifax [Citi] Score: 742; Experian [Amex] Score: 734; Transunion [Discover] Score: 729
Creditkarma scores Equifax 792 & Transunion 781
Barclay's Aviator Red -- $8,400; Discover It -- $16,500; US Bank Cash+ -- $7,500; Huntington Bank Voice -- $8,500; American Express Gold Charge Card; Chase Freedom -- $4,000; Barclay's Arrival+ $6,000; Chase Southwest Premier -- $16,000; Citi AA -- $5,500
Authorized User: Chase Freedom -- $6,500; American Express Blue Cash -- $3,500; Sam's Club Mastercard -- $6,000; CSP -- $9,000; Barclay's CashForward -- $5,000
Goal cards: Freedom Unlimited, Chase Sapphire Reserve, Chase Ink Plus
Message 6 of 13
Moderator

Re: Creditkarma tax...

I tried it, and it would've been effective for me in other years, but not this year; just wasn't featured enough when it came to deductions.

 

So I wound up filing via Turbotax anyway.  I'd certainly suggest everyone try both since it costs nothing but time to at least build out the tax return (and information gathering is the hard part anyway) and compare for themselves.  

 

Wasn't a big surprise to me that CK wasn't as featured as Intuit's product that has been online for more than a decade now, but I'll still keep trying it as saving $80 or whatever is saving $80.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 7 of 13
Valued Member

Re: Creditkarma tax...


Revelate wrote:

I tried it, and it would've been effective for me in other years, but not this year; just wasn't featured enough when it came to deductions.

 

So I wound up filing via Turbotax anyway.  I'd certainly suggest everyone try both since it costs nothing but time to at least build out the tax return (and information gathering is the hard part anyway) and compare for themselves.  

 

Wasn't a big surprise to me that CK wasn't as featured as Intuit's product that has been online for more than a decade now, but I'll still keep trying it as saving $80 or whatever is saving $80.


What do you mean that it wasn't as featured for deductions? From what I can tell it has everything.

Message 8 of 13
Moderator

Re: Creditkarma tax...


gardini51 wrote:

Revelate wrote:

I tried it, and it would've been effective for me in other years, but not this year; just wasn't featured enough when it came to deductions.

 

So I wound up filing via Turbotax anyway.  I'd certainly suggest everyone try both since it costs nothing but time to at least build out the tax return (and information gathering is the hard part anyway) and compare for themselves.  

 

Wasn't a big surprise to me that CK wasn't as featured as Intuit's product that has been online for more than a decade now, but I'll still keep trying it as saving $80 or whatever is saving $80.


What do you mean that it wasn't as featured for deductions? From what I can tell it has everything.


Hrm, when I went through I wasn't able to do educational nor prior capital losses.  Maybe I missed it, but there was a major variance in the two numbers... could've been user error I guess.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 9 of 13
Valued Member

Re: Creditkarma tax...


Revelate wrote:

gardini51 wrote:

Revelate wrote:

I tried it, and it would've been effective for me in other years, but not this year; just wasn't featured enough when it came to deductions.

 

So I wound up filing via Turbotax anyway.  I'd certainly suggest everyone try both since it costs nothing but time to at least build out the tax return (and information gathering is the hard part anyway) and compare for themselves.  

 

Wasn't a big surprise to me that CK wasn't as featured as Intuit's product that has been online for more than a decade now, but I'll still keep trying it as saving $80 or whatever is saving $80.


What do you mean that it wasn't as featured for deductions? From what I can tell it has everything.


Hrm, when I went through I wasn't able to do educational nor prior capital losses.  Maybe I missed it, but there was a major variance in the two numbers... could've been user error I guess.


You might be right, I was just wondering. I do know that it for some reason was wanting to tax some of my HSA withdrawals after i did that senction. Maybe it would have 'fixed' itself if I went further into it, but I decided to just stay with H&R Block since that's who I have been using for year. Maybe next year I will put more effort into seeing if the Credit Karma Tax is worthwhile. 

Message 10 of 13