Free Tax Prep and e-Filing

[Anonymous]

Hey Guys and Gals,

I know alot of people on here shun Credit Karma but I noticed today they are offering free tax prep and e-filing for both state and federal taxes. I think it would be best to start a thread for ALL the sites that offer free tax prep and e-filing and everyones experience on it. That way we can help each other save hundreds of dollars on tax filing.

Credit Karma - Free Prep and e-file - never used

Turbo Tax - Free Prep and fed e-file - used for several years, good software, misses a few hidden tax credits for new york but other then that very easy to use even for those not trained in tax law.

HR Block - free prep but did not offer free e-file last time i tried to use them

[rmduhon]

Taxactonline.com is what I use.

[rmduhon]

I use Taxactonline.com.

[Anonymous]

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@rmduhon wrote:
Taxactonline.com is what I use.

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+1

[iced]

It's been my experience that as soon as you wander away from standard deductions and/or introduce complexities like certain credits,1099s and K1s that the whole free thing flies out the window. Reading the CK Tax FAQ, my fears are confirmed.

This thread is a good idea but I would include a list of limitatons for each, if practical. Wouldn't want someone to get halfway through putting in information on one of these to find out they can't finish because something in their tax profile doesn't fit the free requirements.

[Anonymous]

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@iced wrote:

It's been my experience that as soon as you wander away from standard deductions and/or introduce complexities like certain credits,1099s and K1s that the whole free thing flies out the window. Reading the CK Tax FAQ, my fears are confirmed.

This thread is a good idea but I would include a list of limitatons for each, if practical. Wouldn't want someone to get halfway through putting in information on one of these to find out they can't finish because something in their tax profile doesn't fit the free requirements.

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Tax Act Online has this page with links to their different products and pricing. I just think people will need to explore whichever online service they are interested in.

[rmduhon]

Tax Act Online hasn't given me any issues. I'm an independent contractor and have all sorts of deductions along with standard W-2 reporting for hubby and haven't paid anythingfor it. So it's not necessarily a 1099, non-standard deduction issue.

[Revelate]

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@rmduhon wrote:
Tax Act Online hasn't given me any issues. I'm an independent contractor and have all sorts of deductions along with standard W-2 reporting for hubby and haven't paid anythingfor it. So it's not necessarily a 1099, non-standard deduction issue.

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TaxAct and Turbotax were the gold standards for individual filers of all types even as far back as 1995 and probably earlier since they were well established by that point.

I've used Turbotax online for more than a decade likewise with a mishmash of W2, various 1099 types, investment income, etc., but either service should do everything anyone wants including darned complicated filings.

I might try CK since my taxes this year are really pretty easy (all W2 though I have non-trivial deductions but those should be straightforward) and free is free especially when you have to do state taxes too which wind up running something like $80 total between Fed and Cali tax returns and efiling.

[iced]

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@rmduhon wrote:
Tax Act Online hasn't given me any issues. I'm an independent contractor and have all sorts of deductions along with standard W-2 reporting for hubby and haven't paid anythingfor it. So it's not necessarily a 1099, non-standard deduction issue.

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My intention isn't that online tax programs don't work. I have used TurboTax myself in the past, even with complicated returns. My intention is that a lot of the online tax programs advertised as free are in fact not free if you have complicated returns to file.

[vanillabean]

I think there are things that it doesn't pay to skimp on, such as your electrician and doing your taxes. If you have somewhat of a handle on personal finances, TurboTax Deluxe Federal and e-File is an absolute steal at CostCo. And what is there not love about the user interface of TurboTax? Anything remotely associated with bookkeeping gives me the creeps, but this software works for me.

I happened to get an extra chunk of money a few months ago and am prior to new year investing heavily in tax deductions to shave off the higher tax bracket for yet more. Contributing extra to the 401(k) and maxing out my traditional IRA. Paying the spring property taxes and making the January and February mortgage payments now. Last year, I got my refund in mid-February.