TurboTax Premier Federal + State 2007 [OLD VERSION]

TurboTax Premier Federal + State 2007 [OLD VERSION] | TurboTax Premier

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TurboTax Premier F...

	TurboTax Premier Federal + State 2007 [OLD VERSION] Windows, Mac OS X Leopard, Mac OS X \| Intuit, 2007 average customer review:based on 65 reviews view larger image
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Finally just what I need

I have used TurboTax since 2003, but as I've gotten into stock trading more frequently, logging stock transactions on a tax return has become increasingly more of a chore. I was dreading doing my taxes this year because I had so many short term sales last year. I was planning on having someone else do it this year, but then I noticed a review somewhere saying that this year you could download all transactions from your broker INCLUDING cost basis information which is usually a pain to report, especially with numerous wash sales. So I proceeded to buy this and when I got to the import step, I just needed to provide the login to my two accounts and it pulled in the transactions. At first I was worried, because it gave an error message saying it was unable to import cost basis information and that I would have to add that. That was the reason I had purchased this, so I was about to get quite angry. But then when I looked at what it had imported on the next couple screens, it DID have all my cost basis information, except for one item. So the error message could have been clearer to say only one item was missing information. But when I realized what it did for me, I was ecstatic. It saved me at least a couple hours of work in just the few seconds it took to do the import. Way to go TurboTax!

You should first check with your broker to make sure they support the TurboTax import feature. If they do, I highly recommend this product, especially if you have a lot of investment transactions.

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TurboTax Premier

Overall, it is a great product and I wished I started using it years ago. On a few issues, there was some vagueness in the explanations and the customer support responses were just as vague. However, the problems were minimal as the greater majority of the explanations were clear and concise.

AMT info too late in process

I was disappointed when after entering a lot of deduction detail, TT informed me that my AMT would make all that work obsolete. It also changed the estimated amount due by thousands of dollars after all my hard work was done. Had it given me some AMT information early on - and it should have been able to do this because of my gross income, capital gains and dividends, and NYS tax filing, I could have avoided hours of labor. I am very unhappy about AMT - who wouldn't be, but now I transfer some of that unhappiness to TT who should have advised me about its impact much earlier in the data collection process.
Otherwise, TT has been my filing s/w of choice since 1995 and I'll probably still use it in the future. I just feel bad about when in the filing process it informs the user about AMT impacts.

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hard if you have multiple states

I finally was able to use turbo tax to do my fedral, two state and rental in another state taxes. It was hard and I am not still sure if I did it right. If I got all my deductions or if I got too much. The Fedral was easy but the different states with rental was very hard. It did not give me options to break down part rental and part when I lived in my rental for taxes, inspite of telling it when I rented. It did not automatically put in numbers from rental income in different states. This left me to guess what numbers to put where and it made a 300 dollar diffence in my returns.
Next year wont use it, though that is partly due to the fact I will earn a lot more.
Recommend: Only if you have to deal with one state

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