Customer Reviews for TurboTax - Business 2024 Federal Only + E-file - Windows [Digital]
Customer Rating
4
Turbo Tax software still has a problem.
on March 29, 2025
Posted by: Agent is all over it
from Utah
The Turbo Tax Agent was wonderful and helped out to the best of her ability. There was a part in the state return that has been reported each year and still has not been corrected. Forcing me to print and file by mail. Scot
Not optimum for a Qualified Disability Trust. QDT wasn't even a option to chose from as type of trust. Further, the software does not recognize that a QDT gets the personal income exemption, not the trust income exemption. Finally, the software allowed me to provide summary Form 8949 information, but did not produce a mailing (or even tell me where to mail) for the supporting documentation.
I used TurboTax business to prepare Form 1041 for a trust. The return was relatively simple, with one Form 1099 from a broker with whom marketable equities and ETFs were held and traded. TurboTax created multiple problems that took hours to resolve, including failing to properly enter or allow to be entered multiple foreign taxes paid on Form 1116, failing to recognize that foreign tax payment credits for amounts under $300 do not even need a Form 1116, failing to include Form 8995-A even though Qualified Business Income was recorded off a 1099-DIV, failure to allow upward adjustments to cost bases and failure to provide proper treatment for such commonplace things as credit adjustments from brokers and payments in lieu of dividends from brokers (which should be included in investment income, but are not). Also the terminology used in worksheets and on the form confuses or uses inconsistently such terms as total income, taxable income and adjusted gross income (which may also be an IRS problem). It would probably have been easier to fill out Form 1041 and relevant schedules by hand.
Turbo Tax walked me through the filing process step by step and gave detailed explanations to questions I had. This took some of the stress away from filing.
This is a good program but it did not transfer Foreign Taxes Paid from the K-1 input to the form 1116. I had to manually go into form 1116 and input this Foreign Taxes paid.