TaxAct actually can do imports of W-2s to avoid typo errors. The W-2 is searched for when a real persons SSN and employer EIN is entered. And for preferring the step by step-mode with indicators of which form apply, it is covered in the step by step guidance mode that most people are likely to opt for the first time. You can also see it as a option at 6:58. It is a link instead of a mode button or toggle, so may not stand out the most visually.
I've used TaxAct for several years. I have always been satisfied with their Federal processing but I've always been disappointed with their state offering. As a result, I often opt to go to the official state government tax site. This year I made the mistake of using their state offering and it was a total disaster. It cost me time and money. Next year I will defiantly make the change to their more popular competition. It will be worth the time to migrate my data and the pay higher premium for an likely superior product.
I really appreciate you for comparing these services in detail through an informed and educated lens. I have been using taxact for years and was concerned maybe, with time, other offerings had surpassed them and I was doing a disservice to myself. Having people like you helping do that work to research what's out there is huge. Thanks again!
I had similar issues. I only had SS for income. So no no need to complete a Pa return.. I think they charged me to do one. Gotta check. Was not easy to go back and forth to find my completed return 😢
Stupid question here: In Oct 23' I purchased land and received a 1098 for 2 months ending for 2023, with interest of $800. I am using TaxAct tax software that asked if I received a 1098, I did so I entered the $800 interest. I had very little deductions to itemize, so I chose Standard Deduction. However, the tax software recognized I entered the $800 in the 1098 now it forces me to upgrade to "TaxAct Deluxe" and pay $50 more to upgrade before filing. My Question - Because I chose Standard Deduction, do I even have to report the $800 on the 1098? If I actually chose to use Itemize, then I understand and would need to upgrade. But because I selected Stand Deduction, I'm wondering if I even need to report the $800. It's just a moot point! I'm just trying to avoid having to pay the extra $50 to upgrade TaxAct.
Did you find a solution that worked for you? I am having the same problem and am not sure how to get around it. I started out fresh choosing the free version but because I received a 1098 with a minimal amount of mortgage interest, it is better for me to not include property taxes paid in 2023 as well and just go with the standard deduction rather than itemizing but I have not found a way to do this. I found help online explaining where to go in the software to force the standard deduction, but it doesn't work. The program is still trying to force me to upgrade to Deluxe. I am now wondering if when I get to the step Federal > Deductions > "Review your 2023 Form 1098 (from my institution)" that I should select Delete or Skip rather than Review.
@@Alien5700 So I claimed Standard Deduction! By claiming SD, I do not have to report anything from 1098. Sneakily, the software asked me to enter the amounts from 1098. By doing so, before filing, it will ask to upgrade to 1040 long form to capture the 1098, which you have to pay extra $$$$$. By selecting SD, the software should not have even asked for the amount on 1098. Sneaky way they trick you to pay
@@Unplugged704 Thank you for your quick reply. I appreciate it. Yes, sneaky indeed. What I thought to do in my previous comments did not work either. I'm going to delete & start over (for the 3rd time), apply what I've learned, and not check the boxes in the beginning that I even have a 1098 or paid real estate taxes and then see if it does not even go into itemizing deductions and let's me choose the standard deduction. From what I understand everyone can take the SD, I think.
Your K1 is just your portion of the business income/loss. How much you can deduct depends on whether it's active or passive income. If it's passive income, the most you can deduct against ordinary income is $3k. If it's active business, it's $250k or 500k married.
The 1098-T just shows what you paid for education, which could qualify you for education credits like Lifetime Learning. This is supported on the Free version.
How did you magically enter the income as being $14k dollars or so? I started mine and it starts with W2's but what about retirement and SS income? I think it will eventually get there, but I don't have any W2"s.
Better hope you never need customer service ....there isn't any . These clowns caused duplicate payments that overdrafted my checking account . After HOURS trying to get hold of a human being they refuse to put a stop to duplicate payment . Bullshit company
I've used TaxAct for several years. I have always been satisfied with their Federal processing but I've always been disappointed with their state offering. As a result, I often opt to go to the official state government tax site. This year I made the mistake of using their state offering and it was a total disaster. It cost me time and money. Next year I will defiantly make the change to their more popular competition. It will be worth the time to migrate my data and the pay higher premium for an likely superior product.
Start Your Return On TaxAct For Free: thecollegeinvestor.com/go/TaxAct/ytC3n16G-hA4E
i did my taxes for 2023 on taxact and all I had to do was put in my EIN in boxb on the w2 and it automatically added everything from my w2 to the form
TaxAct actually can do imports of W-2s to avoid typo errors. The W-2 is searched for when a real persons SSN and employer EIN is entered. And for preferring the step by step-mode with indicators of which form apply, it is covered in the step by step guidance mode that most people are likely to opt for the first time. You can also see it as a option at 6:58. It is a link instead of a mode button or toggle, so may not stand out the most visually.
I've used TaxAct for several years. I have always been satisfied with their Federal processing but I've always been disappointed with their state offering. As a result, I often opt to go to the official state government tax site. This year I made the mistake of using their state offering and it was a total disaster. It cost me time and money. Next year I will defiantly make the change to their more popular competition. It will be worth the time to migrate my data and the pay higher premium for an likely superior product.
Not pleased with taxact this year. Went thru doing my taxes 3 times to end gave my payment each time
Was owing taxes TacAxt’s issue or that you didn’t withhold enough all year? I’m confused.
I really appreciate you for comparing these services in detail through an informed and educated lens.
I have been using taxact for years and was concerned maybe, with time, other offerings had surpassed them and I was doing a disservice to myself. Having people like you helping do that work to research what's out there is huge.
Thanks again!
Will NEVER use tax act again..to have to pay to use and pay to print is absolutely ridiculous. I paid more in fees than I owed the IRS . THIS IS B.S.
Justine is an excellent trainer!
Thank you!
I had similar issues. I only had SS for income. So no no need to complete a Pa return.. I think they charged me to do one. Gotta check.
Was not easy to go back and forth to find my completed return
😢
Stupid question here: In Oct 23' I purchased land and received a 1098 for 2 months ending for 2023, with interest of $800. I am using TaxAct tax software that asked if I received a 1098, I did so I entered the $800 interest. I had very little deductions to itemize, so I chose Standard Deduction.
However, the tax software recognized I entered the $800 in the 1098 now it forces me to upgrade to "TaxAct Deluxe" and pay $50 more to upgrade before filing.
My Question - Because I chose Standard Deduction, do I even have to report the $800 on the 1098? If I actually chose to use Itemize, then I understand and would need to upgrade. But because I selected Stand Deduction, I'm wondering if I even need to report the $800. It's just a moot point!
I'm just trying to avoid having to pay the extra $50 to upgrade TaxAct.
Did you find a solution that worked for you? I am having the same problem and am not sure how to get around it. I started out fresh choosing the free version but because I received a 1098 with a minimal amount of mortgage interest, it is better for me to not include property taxes paid in 2023 as well and just go with the standard deduction rather than itemizing but I have not found a way to do this. I found help online explaining where to go in the software to force the standard deduction, but it doesn't work. The program is still trying to force me to upgrade to Deluxe. I am now wondering if when I get to the step Federal > Deductions > "Review your 2023 Form 1098 (from my institution)" that I should select Delete or Skip rather than Review.
@@Alien5700
So I claimed Standard Deduction!
By claiming SD, I do not have to report anything from 1098.
Sneakily, the software asked me to enter the amounts from 1098. By doing so, before filing, it will ask to upgrade to 1040 long form to capture the 1098, which you have to pay extra $$$$$.
By selecting SD, the software should not have even asked for the amount on 1098.
Sneaky way they trick you to pay
@@Unplugged704 Thank you for your quick reply. I appreciate it. Yes, sneaky indeed. What I thought to do in my previous comments did not work either. I'm going to delete & start over (for the 3rd time), apply what I've learned, and not check the boxes in the beginning that I even have a 1098 or paid real estate taxes and then see if it does not even go into itemizing deductions and let's me choose the standard deduction. From what I understand everyone can take the SD, I think.
@@Alien5700 hmm.
I just went back and zero’ed out the amount. That was it
Does taxact allow you to allocate only a portion of business loss from a schedule K ??
Your K1 is just your portion of the business income/loss. How much you can deduct depends on whether it's active or passive income. If it's passive income, the most you can deduct against ordinary income is $3k. If it's active business, it's $250k or 500k married.
Can you add additional attachments to TaxAct?
Yes there is an attachment manager:
www.taxact.com/support/25409/2023/how-to-access-attachment-manager
Can I file a 1098-T here? And does it need the deluxe version? Or can I do the free one
The 1098-T just shows what you paid for education, which could qualify you for education credits like Lifetime Learning. This is supported on the Free version.
How did you magically enter the income as being $14k dollars or so? I started mine and it starts with W2's but what about retirement and SS income? I think it will eventually get there, but I don't have any W2"s.
Not quite sure what your question is? If you don't have W2 income you simply skip that part when it asks you.
Hi
Where do I enter promo codes?
Better hope you never need customer service ....there isn't any .
These clowns caused duplicate payments that overdrafted my checking account .
After HOURS trying to get hold of a human being they refuse to put a stop to duplicate payment .
Bullshit company
Will Taxact accept 2021 import info from Taxcut or turbo tax?
You would need to have the PDF. You can upload the PDF file and it will import it.
From Michelle Walls
😍😍😍😍
I've used TaxAct for several years. I have always been satisfied with their Federal processing but I've always been disappointed with their state offering. As a result, I often opt to go to the official state government tax site. This year I made the mistake of using their state offering and it was a total disaster. It cost me time and money. Next year I will defiantly make the change to their more popular competition. It will be worth the time to migrate my data and the pay higher premium for an likely superior product.