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What are advantages and disadvantages of Intuit TurboTax?

A:

Quick Answer

Intuit TurboTax allows many people to file their federal taxes for free, and the popularity of the system means that many individuals and professionals are familiar with the software; however, TurboTax costs money for people with more complex tax reports. Paying state taxes generally costs money as well.

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Full Answer

Intuit TurboTax operates online, which allows users to avoid having to acquire paper forms and send completed pages through the mail. In addition, the software has a range of tools to help people detect errors and calculate how large their return should be. TurboTax, like other online tax tools, uses a series of questions to make sure users file all the information they need to fill out their forms accurately. This can be difficult when only following the written guidelines on tax forms.

Because there are so many different types of tax forms, determining whether someone is eligible to file for free with Intuit TurboTax can be difficult. In addition, the company's requirements sometimes change as well. While people with only 1040EZ and 1040A forms can typically file for free, Intuit stopped allowing people to file Schedule C or Schedule D information with the Deluxe version of the software in 2014. This confusion, which may not become evident until the user enters a significant amount of information, can cause people to pay more than they intended.

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