Turbo Tax Online Vs. Purchased Turbo Tax??

[lkspeir]

I've done Turbo Tax online in the past. However, I'm wondering if there is any benefit to purchasing the actual software over using the Turbo Tax online.

This is my first year to file my taxes since being a consultant.

 

[jenniferlynne]

I used to buy the software before I discovered that you could do it online. Now I always do it online. You don't have to pay until you submit, and it's cheaper.

 

[hoosierchef]

Yep. I totally agree! I use Turbo Tax online. It's sponsored through my Credit Union and the nice thing is, you have the same ID/Password every year and they will transfer your information into your new return!

Thanks for the reminder! I need to finish filing mine!!

 

[supergirljennie]

I use Tax Act online. It's cheaper than Turbo Tax, and we always check our work with Turbo Tax and it's always the same.

 

[supergirljennie]

Thanks for the reminder! I need to finish filing mine!!

Have you gotten your PC 1099 yet?

 

[lkspeir]

No, I haven't gotten my PC 1099 yet, I'm just getting all my info together on a spreadsheet first, so I'll be ready. This morning on the way to work I was wondering if there was any benefit to purchasing the Turbo Tax software.I do have one more question....My daughter (17) works part time. She only made $380 last year. Does she have to file income tax? Is there a dollar value that you have to make that constitutes filing?Thanks everybody!

 

[jenniferlynne]

I think you have to make at least $500 before you have to file, but I could be wrong. Don't trust me!!

 

[hoosierchef]

Have you gotten your PC 1099 yet?

I didn't sell last year, so I don't have to worry about that yet. I just signed up on 01/25/07. I'm still waiting on my kit!

 

[supergirljennie]

I didn't sell last year, so I don't have to worry about that yet. I just signed up on 01/25/07. I'm still waiting on my kit!

You'll be so excited when it finally arrives. My mum is waiting on her upgrade kit, and she's so anxious.

 

[sailortena]

You have to earn at least $600 from one entity for it to be reported on a 1099.

 

[jenniferlynne]

I worked for just a few weeks at a Preschool last year. I just got my W-2, and it says my income was $340.00. Does that mean I don't have to turn that in? I also helped for a few weeks at a Middle School and made about the same amount. I don't have to turn that in either?

 

[janetupnorth]

Jennifer - I believe you do because your combined income is over $500. We have W-2s from various places some years...teaching a class here or there, etc. and have always turned them in.

On the online vs. software debate...online - being using it for 8-9 years now - nice and easy - easy to access past returns throughout the year - no worries about personal hard drive crashing and losing data or forgetting where I put files...

 

[janetupnorth]

To add, I believe 1099s differ from W-2s, but look for additional advice, I'm not a tax guru...

 

[jenniferlynne]

Jennifer - I believe you do because your combined income is over $500. We have W-2s from various places some years...teaching a class here or there, etc. and have always turned them in.

QUOTE]

I thought I had to, but wanted to make sure. Thanks!