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Intuit TurboTax 2022 Overview and Supported File Types

This makes the process of filing your taxes generally seamless — the program never drops the curtain between you and the IRS forms. You simply answer questions and your return gets filled in behind the scenes. Meanwhile, investments https://turbo-tax.org/intuit-turbotax-2021/ and cryptocurrency gain big support this year with additional updates to the import process. Investors get a holistic view of their portfolio with the new Investor Hub, which pulls together all investments and their related taxes.

It offers thorough coverage of tax topics in an easy-to-follow interview format, and its support is top-notch. For many years, it’s come out on top of our reviews of the best personal tax preparation services. Each free option has different requirements to use them for free. Some tax preparers will charge for state tax filings, for example, while others only offer free services for those making under $60,000. The IRS created a tool to browse free file options based on your adjusted gross income, filing status, age, state of residence, eligibility for the earned income tax credit and military status. According to the Attorney General, consumers eligible for payment will be notified by email by the settlement fund administrator, Rust Consulting.

Count on America’s #1 tax prep provider

You can import up to 10,000 stock transactions directly from financial institution import partners, and the software now performs an analysis on your investments’ cost basis based on your data imports. And for cryptocurrency transactions, TurboTax supports up to 20,000 transactions, five times the last year’s number. State tax filing costs $59 per state on all standard do-it-yourself TurboTax online products, also up $10 from last year (a free state return comes with TurboTax Free online). That’s pricier than H&R Block, which charges $37 per do-it-yourself state return. TurboTax Live Assisted Basic, which includes live support, includes one state filing. All other TurboTax Live Assisted and Live Full Service options cost $64 to file a state return, up $15 from last year.

In May 2022, the company reached a $141 million settlement with state attorneys general to pay lower-income Americans who were “unfairly charged” for filing their taxes. If you bought TurboTax online filing products between 2016 and 2018, check your email—you might be entitled to a settlement payment. The best way to file your tax return is electronically, and you should do it as soon as possible. When you file electronically, you’ll get your refund quickly, and doing so can help thwart identity theft. As of February 2023, the IRS still had a backlog of over 1.8 million 2021 returns and late-filed prior-year returns. It has the same tax topics as the browser-based version, so you can prepare and file even a complex return from your phone.

Blocking search engines from indexing its “free file program” page

And TurboTax covers more scenarios — and it does so more clearly — than some of the competing services. For example, TurboTax calls out if you have a nontraditional situation for a dependent or made money while living in a state other than your residence, and provides appropriate guidance in the slide-out help pane at right. TurboTax improves available assistance for 2022 taxes, https://turbo-tax.org/ starting with a smoother experience for Live Full Assisted and Live Full Service. For the former, the live help is more targeted, and context sensitive to wherever you are in the service. For example, if you’re in the self-employed expenses or investments sections, the expert you connect to will be well-versed in that topic and ready to help you with your questions.

Next, I was asked a few questions about my business and its structure that hadn’t been addressed earlier. TurboTax then summarized all my basic business information, answering some questions it hadn’t even asked me with the most common response, which I was asked to confirm. I was asked to identify the type of income forms I received in 2022, choosing from both common ones (like 1099-NEC and 1099-K) and uncommon ones (including 1099-MISC).

Intuit TurboTax Deluxe 2022 review: State filing

The free version lets you file a Form 1040, claim the earned income tax credit and child tax credit and deduct student loan interest. This year it also offers Schedule 1 help, limited to simple hobby, personal property rental and personal item sales that are reported on a Form 1099-K. The TurboTax interface offers a simple step-by-step process for completing tax returns.

It runs an extra $49 and includes features such as identity theft monitoring, loss insurance and restoration help. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Throughout the process of answering questions to complete your return, TurboTax uses clear language to walk you through adding your data. If you don’t want to see what looks like a representation of a tax form, you don’t have to.

Two icons (Search and Help) open a pane that slides over from the right and thankfully does not obstruct your view of the current page. Another link opens a page containing information about upgrading to TurboTax Live Assisted Self-Employed. You also have the option of paying for the software out of your refund. Here’s a look at the various ways you can find answers and get guidance when filing your return with TurboTax. One of TurboTax’s most notable features is its contextual help in the form of videos, expandable sidebar information, and embedded links throughout that offer tips, explainers, videos and other resources.

In return, the IRS agreed it would not create its own tax filing system that could compete with the tax prep companies. At the end it basically gave me no option but to pay, which I have no problem with. I was okay with it because they changed me owing $260 on my taxes to only $11 so I expected to pay close to that amount anyway. I end up asking to take from my refund returns and it showed they would do so for $40 extra dollars. I’m at this point getting irritated but choose to go through with it. It kept sending me to the payment option although I wanted it taken from my refund.

Online tax software can simplify the chore of doing your taxes on your own and filing electronically, and it’s less expensive than hiring a pro. A few companies offer desktop tax software, but these packages tend to be more expensive and worth the investment only if you must work offline or have several returns to file. Kaitlyn Wells is a senior staff writer covering the intersection of home office, productivity, and technology.

• Prior users of TurboTax or other Intuit online products (QuickBooks, Mint) log into the service with their Intuit credentials; new customers have to create an account.
• The amount you could receive is based on the number of tax years for which you qualify.
• The list price of its software routinely is on the high end of the spectrum, especially when adding the cost of a state return.
• Both complaints allege that Intuit’s practices violate the FTC Act.
• Another link opens a page containing information about upgrading to TurboTax Live Assisted Self-Employed.

Most importantly, when you hire a tax pro, you establish a relationship with one person you can count on every year. A tax pro who knows you can provide personalized advice and help you save money in future tax years. Should you have any problems with the IRS, your CPA or EA will be available to help (sometimes for an additional fee, and sometimes as part of their normal responsibilities).

She has contributed to print and online publications such as The New York Times, Lifehacker, and PCWorld, specializing in tech, productivity, and lifestyle/family topics. She’s thrilled when those topics intersect—and when she gets to write about them in her PJs. Sign up for Lab Report to get the latest reviews and top product advice delivered right to your inbox.