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TurboTax 2022 Review: Online Tax Software Leader Still Dominates – CNET

TurboTax 2022 Review: Online Tax Software Leader Still Dominates.

Posted: Fri, 15 Apr 2022 07:00:00 GMT [source]

H&R Block and TurboTax are the two most comprehensive online services available and likewise they are also some of the most expensive. However, while H&R Block was once cheaper than TurboTax, the companies are now nearly perfectly aligned when it comes to cost.

Premier: Best for more complicated returns (investments and real estate income)

The program you choose can depend on your personal financial situation and how much you want to spend. Intuit, the owner of TurboTax, spent more than $11 million on federal lobbying between 2008 and 2012. Intuit “opposes IRS government tax preparation”, particularly allowing taxpayers to file pre-filled returns for free, in a system similar to the established ReadyReturn service in California. The company also lobbied on bills in 2007 and 2011 that would have barred the Treasury Department, which includes the IRS, from initiating return-free filing. In our view, most tax situations will not require TurboTax’s expert help upgrades. The main strength of TurboTax is that it’s accessible and comprehensive, meaning that the process offers enough information that you don’t need to dig to find it.

  • Intuit is under investigation by multiple state attorneys general, as well as New York’s Department of Financial Services.
  • It also supports numerous form types and covers rental assets and cryptocurrency.
  • The company is once again offering its Free Edition, as previously mentioned.
  • This is generally true for both desktop and mobile users.
  • SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S.
  • Due to federally declared disaster in 2017 and/or 2018, the IRS will allow affected taxpayers an extended filing date to file and pay for their 2017 taxes.

The self-employed filing software is required for anyone who had Schedule C (self-employment) income. Given the rocky economic conditions of 2021, I suspect that a lot of people have done some gig work this year. All of those side hustlers will need to upgrade to this tier for their filing. If you’re a landlord, both TurboTax and H&R Block offer easy-to-use depreciation calculators that make it easy to claim the right deduction. I find TaxAct’s to be a little clunkier, but overall it offers a reasonable experience. For a comparison of “Free” tiers, you’d except to see a lot of $0s.

Compare the best tax software of 2022

Individuals and families with a simple tax return, meaning a single W-2 and no investment or rental income, should be able to use the basic software for free. TurboTax doesn’t have any physical locations like H&R Block, but it does provide access to tax experts like CPAs and EAs. It will cost extra for you to get access to an expert, but there are four plans available, corresponding to the four plans listed in the table above. For only expert advice, plans run from $79 to $199 for federal returns. But if you want full expert service, plans will cost you anywhere from $199 to $389 for federal returns.

turbotax price

Before filing your return, a tax pro will schedule a time to review your return with you. Preparing your tax return with TurboTax is a lot like sitting down with a tax preparer. The https://www.bookstime.com/ software walks you through the tax preparation and filing process with a series of interview-style questions. NerdWallet strives to keep its information accurate and up to date.

Sometimes, TurboTax even guesses that you might have a question and provides related FAQs. Competing sites work similarly, but TurboTax and H&R Block Deluxe are the best at this. H&R Block, in fact, changes the content of the right vertical pane every time you open a new screen, so what’s displayed there is always context-sensitive. In TurboTax, you have to click a link to get it to change. The bulk of the screen is reserved for the site’s actual data-gathering questions and answers.

  • Intuit announced that they would take counter action, announcing that the FTC’s arguments are “not credible” and claimed that their free tax filing service is available to all tax filers.
  • They offer the same tax topics that are available on the browser-based version, so you can prepare and file even a complex return using them.
  • The company has been subject of controversy over its political influence and deceptive business practices.
  • Before buying anything, though, check out our guide to the best tax prep software for 2020, so you know which product will work for your needs.
  • Next, it asks you a second time to indicate which life situations apply to you.

First, be sure you know the difference between “support” and “defense.” With most providers, audit support (or “assistance”) typically means guidance about what to expect and how to prepare — that’s it. Audit defense, on the other hand, gets you full representation before the IRS from a tax professional. TurboTax’s Deluxe plan also maximizes mortgage interest and property tax deductions, and it offers a “deductible service” that can help you organize charitable donations and value them correctly. It searches more than 350 sources of tax deductions and credits, and covers education tax credits, along with simple expenses. It offers a basic Free online edition that, like its competitors’ free products, is available for only the simplest tax situations and returns. A state return and e-filing come free with this package as well. All programs include live technical support if you run into a problem, along with a screen share feature that allows you to show where you’re having difficulty.

File your own taxes

Clocking in at under $100, the H&R Block downloadable software is quite a steal. If you’re going to use H&R Block Self-Employed, you may save money by choosing to download. This tier is where third-party integrations become extremely important. TurboTax supports the largest number of third-party integrations. For example, it has a direct integration with Coinbase which makes it easy for cryptocurrency traders to report their gains or losses in terms of US Dollars.

turbotax price

We offer quick, easy-to-digest bits of information while you’re filing that help improve your tax outcome and financial wellness. Taxpayers who’ve invested in cryptocurrency are likely to be thrilled by the ability to import 4,000 transactions at once to their tax return through TurboTax. We have not reviewed all available products or offers. Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.

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