Why Do People Want Old Turbo Tax Discs

To ensure proper record keeping of tax returns, users are advised to archive PDF copies of all past TurboTax returns, as well as the corresponding working TurboTax documents that generated them. In addition, users should retain all previous years' installation CDs, allowing for the retrieval and modification of past tax returns if necessary. Following these recommended practices can help facilitate efficient and accurate tax preparation, and ensures that users maintain appropriate documentation of their tax history.

Does TurboTax include help & support?

TurboTax is a tax software program designed for desktop use, providing users with convenient access to an array of features and tools to streamline the tax filing process. The program offers several versions, including Deluxe, Premier, Self-Employed, Premium, TurboTax Live Assisted, and TurboTax Live Full Service, each providing access to a TurboTax product specialist for support. The Free Edition does not include this service but can be upgraded to do so. With TurboTax, users can prepare and file their taxes with ease and confidence, ensuring accuracy and maximizing their refunds.

Why should you invest in Deluxe TurboTax?

The Deluxe TurboTax software offers extensive tax deduction and credit search capabilities, with more than 350 options to choose from, including homeowner tax breaks, charitable donations, mortgage and property tax deductions. Additionally, the software supports tax credits for dependents and educational expenses. These features make Deluxe an attractive choice for individuals seeking to maximize their tax savings. Overall, the TurboTax software offers a comprehensive and user-friendly option for completing tax returns.

Why should a CPA use TurboTax?

In summary, choosing TurboTax over a certified public accountant (CPA) has its pros and cons. While a CPA can provide personalized advice and ensure accuracy, they may be overwhelmed during tax season. TurboTax, on the other hand, allows individuals to complete their taxes independently and verify the completeness of the information. However, it may lack the expertise of a CPA and may not be suitable for complex tax situations. Ultimately, the decision should be based on an individual's specific needs and circumstances.

Does TurboTax offer audit defense?

In summary, TurboTax provides free audit support to all its users, which includes assistance from a tax professional to help them understand the nature of the IRS letter received. In case the service fails to link users with a tax pro, then they are entitled to a refund. Additionally, users have the option of choosing audit defense, which offers full representation from a tax expert before the IRS. This service entails an extra fee and is meant to provide users comprehensive protection against the IRS during an audit.

How does TurboTax Deluxe work?

TurboTax Deluxe is a comprehensive tax preparation software that provides a thorough search of over 350 tax deductions and credits to ensure all eligible tax breaks are claimed. Additionally, the software offers the ability to make changes to a filed and accepted tax return up to three years after filing if an unexpected form arrives late. With its extensive features and flexibility, TurboTax Deluxe is an advantageous tool for taxpayers seeking efficient and accurate tax preparation.

Will all 'latest' versions of TurboTax open all prior year files?

Inquiry regarding the need to keep previous versions of TurboTax software installed on a computer in order to access prior year tax files has been raised. It has been confirmed that users need not keep previous versions installed as the latest version can open all prior year TurboTax files. Therefore, users can uninstall previous versions of the software without concern for accessibility to previous tax filings.

Is TurboTax better than an accountant?

In summary, the average cost of obtaining a form 1040 and a state tax return through a certified public accountant (CPA) is $273, according to Investopedia. Alternatively, TurboTax offers the assistance of a tax expert for prices ranging from $80 to $200, making it a more cost-effective option for many taxpayers. While both options have their advantages and disadvantages, researching and comparing different tax preparation software, including TurboTax alternatives, can ultimately help individuals make an informed decision that best suits their specific tax needs.

Is TurboTax the most expensive tax preparation software?

TurboTax is a highly-rated tax preparation software that offers discounts for those filing after the tax season and is considered one of the best platforms available. While it may be more expensive than other options, it provides extensive features for complex tax returns. The software also offers a free version, but it only covers very simple tax returns. When compared to TaxAct, TurboTax has a higher cost but offers more comprehensive tools and resources to users. Overall, TurboTax is a reliable and efficient choice for individuals looking for a high-quality tax preparation solution.

Can you still file taxes using old Turbo Tax discs?

It is possible to prepare and file 2021 tax returns using the TurboTax CD/Download software, as indicated on the past-years' taxes page. However, the TurboTax Online and mobile app options are no longer available for this purpose. It should be noted that a 2021 TurboTax Online or mobile app return can still be amended in TurboTax Online. This information is important for individuals seeking to meet their tax obligations using TurboTax, and showcases its versatility as a tool for managing tax affairs.

Can I file a tax return from previous years using TurboTax?

Filing tax returns by hand requires patience and attention to detail. However, TurboTax provides an alternative method for filing returns from previous years. By selecting the desired tax year and entering relevant tax information, TurboTax can complete the necessary forms accurately. It is essential to file returns for back taxes to avoid penalties and interest fees from the IRS. TurboTax simplifies this process by making it easy to file returns for previous years.

Does TurboTax offer a free tax return?

TurboTax offers a free edition for individuals with a simple tax return, which can be filed independently, or alternatively, individuals can opt to file with the assistance of TurboTax Live Assisted Basic or TurboTax Live Full Service Basic at the specified cost. A simple tax return only requires the use of IRS Form 1040 without any additional forms or schedules. Additionally, TurboTax provides a service for individuals to file previous year tax returns.

Does TurboTax offer e-filing?

As TurboTax exits the Free File program, taxpayers can still file their tax returns for free through other online tax preparation services in the program. The Free File program, run by the IRS, aims to help taxpayers with an adjusted gross income of $73,000 or less find free online tax preparation and e-filing options. Filing electronically through Free File allows the IRS to process returns and issue refunds more quickly than paper filings. Having previously selected TurboTax is not a barrier to utilizing other options in the program.

How does TurboTax work?

With over 195 million tax returns and other forms filed electronically last year, TurboTax stands out as one of the most popular tax software options for consumers, with approximately 14 million tax returns filed using its platform. The software's main objective is to simplify the tax filing process and identify significant tax breaks for its users that they might miss on their own. Anyone searching for the right TurboTax version may benefit from a deeper understanding of each option's features and functionalities.

Do I need a license to use TurboTax?

TurboTax offers a range of CD/Download products for the preparation and filing of federal and state tax returns. As a user, it is mandatory to accept the TurboTax License Agreement prior to utilizing the software. This product is not intended for use by paid preparers. The price includes tax preparation and printing of federal tax returns, as well as free federal e-filing. However, additional fees may apply for e-filing state returns. It is essential to understand the differences between the various TurboTax CD/Download products before selecting the one that suits your specific tax situation.

What are the terms & conditions of TurboTax?

In summary, the terms and conditions of TurboTax Online are subject to change without notice, and customers must review the current policies. Tax Return Access is included with certain product editions and provides access to prior years' tax returns until December 31, 2024. Customers can compare the various online product offerings on TurboTax's website to determine the best fit for their tax preparation needs.

Is TurboTax Deluxe worth it?

TurboTax Deluxe is a tax preparation software that provides all the features of TurboTax Free Edition, along with additional perks. It is particularly beneficial for homeowners who require guidance on converting their home investment into a significant tax advantage. The software offers a step-by-step process that simplifies the tax preparation process by walking users through every step of the way. TurboTax Deluxe is a reliable option for those who want to simplify the tax preparation process while maximizing their tax returns.

What happened to TurboTax?

Intuit, the company behind TurboTax, made changes to their deluxe edition this year that have left users unable to file certain tax schedules automatically. This has caused frustration among users who feel they are being charged the same amount for a product that now offers less functionality. The changes have been viewed as a marketing ploy to push users towards more expensive versions of the software.

Can I use an older version of TurboTax?

No, it is not possible to use an older version of TurboTax to file this year's taxes. Each tax year requires its own version of the software. It is important to use the correct version to ensure accuracy and compliance with current tax laws. For further assistance, information on obtaining the current year's TurboTax software can be found through Intuit.

How many people use TurboTax online?

TurboTax, the popular tax preparation software, has experienced significant growth over the past decade, with its website attracting nearly two million additional customers each year. The company reported handling millions of tax returns through its online platform, with a third of users utilizing the Free Edition. TurboTax has been in operation for 20 years and has consistently worked to prevent Americans from accessing free tax filing options, according to a recent report by ProPublica.

Is TurboTax the king of do-it-yourself tax preparation?

Intuit's TurboTax software, which is highly popular with its 30 million customers and a market share of 60-65%, is expected to see decreased figures next year. This is due to the changes Intuit made to the software this year, which have resulted in significant customer dissatisfaction and criticism. These changes have led to a catastrophic PR crisis for Intuit, and it remains to be seen how the company will address it.

Are there any compatibility issues with using Turbo Tax discs from previous years?

In summary, it is important to keep in mind that software programs for tax preparation are only supported for a limited period of time, typically four years. This means that attempting to install outdated programs may result in a lack of updates or access to the state program. To ensure proper record-keeping, it is advisable to save each year's tax return as both a PDF file and a .taxfile file. By doing so, individuals can ensure that they have access to their tax records and can avoid potential issues with outdated software.

Does TurboTax offer tax return access?

For individuals who need to file taxes for previous years, TurboTax provides a service to assist with past year tax preparation. This service is available for customers of TurboTax Free Edition, Deluxe, Premier, Self-Employed, Premium, TurboTax Live, and TurboTax Live Full Service. Additionally, customers can access up to the prior seven years of tax returns that are on file through December 31, 2024. TurboTax's prior year tax prep service allows individuals to efficiently and accurately file back taxes, ensuring compliance with tax laws and regulations.

What if I can't install Turbo Tax desktop?

The Turbo Tax Desktop program installation issue can be resolved by transferring the 2019 tax return file from the computer to the online version for next year. The necessary file should end with ".tax2019" and it can be easily imported into the online version. This method can be used as an alternative for those who have been using Turbo Tax Desktop program for many years.

Are old tax discs worth anything?

After 93 years of gracing the windscreens of vehicles, tax discs will no longer be issued from October 2014. Instead, electronic tracking will be used to monitor vehicle tax payments. This move opens the possibility for old tax discs to become valuable historical artefacts.

Does TurboTax pay for itself?

TurboTax offers a Premium service, formerly known as Self-Employed, that can help individuals estimate and deduct their business expenses at the self-employment tax income rate for tax year 2021. The actual results may vary depending on an individual's unique tax situation. This service can be accessed anytime and anywhere with an internet connection, including through their mobile app. Additionally, TurboTax provides a service for filing past years' taxes for those who need it.

Does Intuit offer a free version of TurboTax?

Intuit, the developer of TurboTax, offers a lifetime guarantee to its customers which entitles them to payment of $30. This guarantee covers personal, individual tax returns filed with TurboTax for up to seven years from the date of filing, excluding TurboTax Business returns. In addition, TurboTax provides past years' tax preparation services to individuals needing to file previous year taxes.

If someone has always used old Turbo Tax discs, how easy is it for them to transition to a newer version?

It is important to keep in mind that software programs for tax preparation are only supported for a limited time period of four years. Therefore, attempting to install an older program may result in an inability to receive state updates or necessary software upgrades. To ensure proper record keeping, it is recommended to save each year's tax return both as a PDF, with worksheets, and as a .taxfile. This practice will assist with maintaining organized and accessible records for future reference.

Does TurboTax help Ira & RMD?

Seniors who require assistance preparing their tax return may be eligible to participate in the IRS's Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs, which provide free support. It is important for older individuals to manage their Individual Retirement Accounts (IRAs) and Required Minimum Distributions (RMDs) responsibly, as deferring taxes on retirement savings can only go on for a limited time. Seeking tax counseling and guidance from professionals can help seniors navigate the complex taxation rules and ensure compliance with regulations.

How do I download TurboTax?

It is possible to reinstall prior years' TurboTax programs on a new computer. To access the programs, users must log in to their TurboTax account and click on the right-arrow key in the product section. From there, they can manage their TurboTax products, which will bring them to their account page. This process allows users to access and reinstall previous years' versions of the software for tax preparation purposes.

Should I reinstall TurboTax?

It is advisable to keep old TurboTax CDs in case they are needed to access old tax returns or to install the program on a new computer. This is because the only way to open a tax return data file is with the TurboTax program for that year. It is recommended to keep the most recent four years of TurboTax CDs for future use.

How many tax returns can I file with TurboTax?

When considering which version of TurboTax to use in 2023, it's important to note that the IRS only allows users to prepare and electronically file up to five federal and related state tax returns. This is not a TurboTax policy, but a regulation set forth by the IRS. However, users may prepare an unlimited number of returns and print them out to mail in. When purchasing TurboTax, it can be installed on any computer owned by the user. When deciding on which version of TurboTax to use, it's important to consider personal needs and the complexity of one's tax situation.