Another thing that these programs may make easier is if you have a long list
of foreign tax credit (Form 1116) items due to owning a well diversified
(i.e., index) international mutual fund that pays dividends. It is much
easier to type the country names and amounts into the program and let it do
the math over multiple forms. Then, depending on your AGI, you may have to
do the whole thing all over again (with some subtle changes) for an AMT
version! We're talking like 10+ pages of forms for each!

Over the years I have used TaxCut because it is generally a bit cheaper than
TurboTax and has a closer relationship with Money (often a purchase tie-in,
buy TaxCut, get latest Money free). One thing that I don't like about
TaxCut is that one has to trick it into generating the extra AMT copy of the
Foreign Tax Credit forms, essentially creating two version of one's taxes,
neither without error, and "toggling" between them, printing the requisite
AMT forms for filing, then going back and modifying back to regular versions
of the Form 1116. If the program can figure out to generate an AMT for you,
why doesn't it create the requisite AMT Form 1116 to go with the AMT Form on
its own and keep it separate and distinguished from the regular 1040 version
of the 1116? You have to file both, even if you end up not owing AMT (if it
is close, as the IRS wants proof you don't owe it--I've been dunned for AMT
forms after filing to prove that I didn't owe any--if you calculate AMT,
keep a copy, even if you don't file it).

I complained to TaxCut a few times about this, but gave up--no response, no
fix.

Anyone know if TurboTax does a better job on this issue?

I prepared my taxes manually for years and switched to TurboTax ~10
years ago. I prefer the software for the ease of making changes,
filling out the forms correctly, and being able to transfer data
forward from last year's taxes. I always wait for a sale (usually at
Costco) when I can pick up the software for $25-30. It has always
bugged me, though, that Intuit doesn't reward its customers with
better discounts in subsequent years.

On Sat, 1 Mar 2008 13:40:39 -0600, "Taylor" <taylor[at]nospam2me.comwrote:

- quote -

Schedule D but also schedules C and E for even a 1 person business. I
wouldn't even try to do it without a program. I've been using TurboTax for
many years. Since it does what I need I've never tried the others.

Frank

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:gdojs39u7vbd0p9gf2a6he8ns5ntn386j2[at]4ax.com...
- quote -

I have used Tax Act Deluxe for a number of years and it handles any
transactions you can throw at it. At $9.95 including 1 automated filing, it
is a bargain. Non complicated returns can use the free version.

"Taylor" <taylor[at]nospam2me.com> wrote in message
news:VeOdnXdBc8KkLFTanZ2dnUVZ_gydnZ2d[at]comcast.com...
- quote -

In microsoft.public.money, Taylor wrote:

- quote -

Those two have programs that install onto your own computer and
accept info -- most usefully schedule D info for some people -- from
Microsoft Money. They have state versions for those who need that.


- quote -

Do you mind put your info on somebody's web site? While TaxAct does
not accept info from Money, it has free fed and cheap state programs
that keep your return on your own computer.

- quote -

There are volunteers who do tax for people with lower incomes free.
IRS.gov lists programs free to people with lower incomes.

The answer would depend greatly on the complexity of your financial
situation from the tax point of view. If your taxes are simple (minimal
investing or all tax-deferred, no income properties, employed by an
employer, lived in same state all year, for instance) then getting the forms
and doing it yourself is not nearly as hard as the people who sell these
services would have you believe.

"Taylor" <taylor[at]nospam2me.com> wrote in message
news:VeOdnXdBc8KkLFTanZ2dnUVZ_gydnZ2d[at]comcast.com...
- quote -

I have been using Turbo Tax for years. This year especially it's a no
brainer. $40, it's even less at Office Depot. Worth the money.
"Taylor" <taylor[at]nospam2me.com> wrote in message
news:VeOdnXdBc8KkLFTanZ2dnUVZ_gydnZ2d[at]comcast.com...
- quote -

I am shopping for tax prep software. I have looked at TurboTax, TaxCut,
TaxBrain, and TaxAct. I am wondering which is the best tax preparation
software?

I have also gone on the IRS website. You can download all the forms and
instructions in PDF format. I am thinking about just downloading the forms
and instructions and doing that way. Why pay $40 for a wizard when
everything else is free online?

Your thoughts?