It's the only game in town for do it yourself corporate returns. Very difficult to understand without accounting background. Plus, the integration with Quickbooks is poor. Missing entries and lots of double entries, plus cost of goods sold calculations are different in both programs which throws all the calculations off.
TurboTax Business needs to be put out of business.
on April 14, 2025
Posted by: FrustratedOnceMore
It would be great if the program would support the importing and downloading of financial information directly from financial institutions. In addition the page requiring a signature is absolutely much worse than even the paying taxes. In fact it is soooo cumbersome that one seriously considers an alternate for such an expensive nonworking solution as TurboTax Business!! What an annual disappointment!
Basically had to read form 1041 myself and correct
on April 14, 2025
Posted by: WorkingExecutor
from TX
No box asking for 1099-R forms for a deceased retired person made the whole process really irritating. I use Turbotax for my personal taxes and you have the programming capability to step through all kinds of 1099 forms. Plug this into estate 1041 software. No step asking for sale of collectables or motor vehicle. Beneficiary is wrong saying has been paid whereas form says Schedule B line 9 "Income required to be distributed". This is giant error by Intuit because estate would have owed $35,000 if filled out as paid in 2024 rather than required to be distributed. No notation of generation skipping in K1 letters or forms.
I love Turbo Tax and have been using it for years. My main difficulty is when it shows an error message and takes me to the form, it is not apparent what is wrong. I go round and round in circles.
Product is OK, very user data driven instead of being able to import info. I use it for trusts and for what it costs, you would think it would import consolidated statements for investments. I think I'll just go back to using a CPA.
Pros: My employment status changed this year, I moved, I bought or sold investments