Form 2210 program considers Estimated Tax payments as late when payment date entered is later than the 15th of month due, even though IRS deadline is later due to tax holiday and/or weekend date.
Not the first time I've used H&R Block. Fine program, but wish these two things were changed: 1. We are asked a) how much in total we have in our IRAs, and b) our basis in the IRAs.
I estimated both the total and the basis. The exact total could have been calculated, but the basis, not a chance.
I didn't think too much of the questions, so came up with SWAGs: $150K and $100K. What a surprise to see these numbers show up on a form 8606 and more, be reflected on the 1040 as an additional $31,273 of taxable income.
I still don't understand why what I have in my IRAs should increase my taxable income. The funds in the IRAs remain invested; why are they considered income?
The tax program never, to the best of my memory, mentioned the importance of these two questions, nor the impact the answers would have on my tax return.
2. This is a minor point, but in the instruction page we get after completing our return, we are not told when to send in our payment if we owe taxes. Is it after we are informed our efile return was accepted? That's what I concluded today after three weeks of not hearing from the IRS. I recommend it be spelled out for those of us who use efile.
Otherwise, a fine program for an average taxpayer.
I bought this program a month ago and head problems updating and get the state to down load. I spent hours reinstalling and trying to down load state forms. there is no place contact information for software issues. I ended up buying another one installed and had my taxes done in 30 min. what a waste of my time on the first one. I am not sure I will use it next year it was a waste of my time I want easy support not road blocks or no support if your project is not working.
Cons: Time consuming, Hard to fix issues, Hard to install
I used this for a return with lots of complexities, rental, business, amt, recapture of amt, nol, etc. It was really helpful and very improved from two years ago. I would recommend it. I did taxes professionally for 15 years and this is almost as good as professional software.