Customer Reviews for TurboTax - Business 2024 Federal Only + E-file - Windows [Digital]
Customer Rating
3
Trouble reconciling Retained Earnings
on March 6, 2025
Posted by: mikestoff05
from Denver, CO
I entered shareholder distributions and only a portion of the amount was pushed to retained earnings. I was on the phone with a live agent and they were not able to resolve the issue. I ended up manually adding the difference to balance sheet equity secction. The retained earnings is not reconciled.
This was for a Qualified Disability Trust (QDT). I used it but had to do work arounds. Far worse than Turbo tax personal in my opinion.
1) Does not help you change it to a QDT, I happened on it. You can either pick simple or complex but if its complex it does NOT ask what type. Have to dig to find where this can be set. UGH! 2) Does NOT import investment 1099s. Hmm, but the personal one does?. They know about this but have not changed it. They should cut the cost. 3) Had to override putting in the trust expenses that are NOT business related. It seems way more geared to business. I took notes so I'd remember next year. So why don't they fix these items. Again, they should drastically cut the cost.
Explains everything pretty well, but at the end, when trying to e-file, I was stuck in a loop where I couldn't proceed to e-file. There was some data, not familiar to me, that was needed before I could submit for e-file. I had to fill in the data on the form, and I just entered a bunch of zeros, since these questions were not relevant to my situation. Once those data were populated, I was able to proceed to e-file.
This is my 5th filing year for a Trust, and I've used TurboTax Business each time. Here are the three key reasons for my rating. 1) Does not import data from my financial institutions (like Personal does). 2) Does not help at all with my State filing for Utah. 3) Does not offer a Mac version of the Business software.
I switched from a PC to a Mac a handful of months ago and was really disappointed to learn Intuit does not offer a version of TurboTax Business for the Mac. Luckily my PC is still functional, so I was able to file for 2024. But I'm now worried about next year.