Tax preparation: Comparing at-home software
April 2, 2011 at 7:02 p.m.
Updated April 1, 2011 at 11:02 p.m.
With tax season coming to a close, the rush to get those returns completed is on. For those daring and computer savvy few willing to do their taxes at home, here are some of the tax programs on the market.
With several software options to choose from, Turbo Tax allows you to:
Import W-2 and 1099 from more than 100,000 employers and financial institutions. (Basic, Deluxe, Premiere, Home & Business)
Search for more than 350 deductions. (Deluxe, for deductions, Premiere, Home & Business)
Calculate gains and help deduct investment losses. (Premiere, for investments and rental properties, Home & Business)
Uncover refund-boosting business write-offs. (Home & Business)
And much more. Turbo Tax allows up to five free federal e-files when you buy or download the full software.
H&R Block At Home
Created by tax professionals, H&R Block offers free audit support and audit representation, in the event that occurs, along with many software amenities, including:
Importing your previous W-2 and 1099 information from Turbo Tax and H&R Block At Home. (Basic, Deluxe, Premium, Premium & Business)
Mortgage interest and charitable tax deductions maximizer. (Deluxe, for homeowners and investors, Premium, Premium & Business)
Schedule C guidance. (Premium, for self-employed and/or rental property owners, Premium & Business)
Partnerships and LLCs, along with estates and trusts. (Premium & Business, for small business owners)
Five free federal e-files. (all)
With no CDs or product registration to contend with, this online program is free and offers the following options:
Fafsa assistance for those college kids in the family. (Free, Deluxe, Ultimate)
TaxWatch feature analyzes individual tax situations to help plan for future tax returns. (Deluxe, Ultimate)
For a low price, state and federal taxes can be filed. (Ultimate)
Business owners can also take advantage of TaxACT with Business 1065, 1120 and 1120s forms.
Information compiled by GC staff