I ordered TurboTax 2012 as soon as it was available. Being over 65 I am aware of several limits which can affect taxes and costs. Using TurboTax helps me make the best use of my money. Allowing my income to be just a few dollars above certain limits means my Medicare Part B and Part D premiums will increase dramatically, even more than tripling. Also, I did not want to be subject to the AMT. Therefore, as soon as Turbotax arrived, I plugged in all known income and deductions. I then knew the maximum final withdrawal to make from my IRA without wasting any of it. I also knew within a narrow margin what my taxes would be and could make a final tax payment to ensure I will not be subject to a underwithholding penalty or have to pay estimated taxes next year. Using Turbotax to finish 2012 monetary allocations also gives me a headstart on reporting my taxes. As the real data becomes available, I will make a final check/correction of my entries and then e-file.
I have used TurboTax for about ten years and have never had a problem with a tax return. It makes doing your taxes easy and fairly foolproof. I would recommend it to anyone with a computer. It has the capability to import data from many of your financial institutions, reducting the data entry you must do. Each year it also pulls in static data from your previous year's TurboTax return, eliminating the need to re-enter unchanged data. I also offers a side-by side listing of your previous years numbers with the current year which may indicate missing or incorrect entries. This is a great product.
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