Rated 3 out of 5 by MacTaxMan Why not Mac??
While I really like to use TurboTax for all of my tax returns, I am forced to use an old PC to complete my S-Corp. return, since TurboTax Business is not compatible with Mac. All of the other TurboTax programs are compatible (I use TurboTax Home & Business for my Personal & LLC tax returns, which I complete on my MacBook Air), why not TurboTax Business?
When this PC finally dies, I do not want to have to consider another tax preparation program. Please make it Mac compatible for 2016!!
February 7, 2016
Rated 5 out of 5 by EvanRoelofs functionality
January 29, 2016
Rated 3 out of 5 by IHID Disappointed this year.
The program was sluggish and took considerably more time to switch between step by step & forms and do other tasks than in past years.
I have commented for several years now that rounding causes trouble and there is no legitimate reason that a computer program can't work with the real values. When I did my taxes by hand I always used real values.
I might just not use the program next year if it still does rounding.
January 26, 2016
Rated 4 out of 5 by McNugget 1st time user. So relieved it worked.
Turbo Tax's Jeanne Dolan saved me with her diligent tech support. TT wouldn't accept my partnership % & data entries Several hours were spent to correct these issues. Then, when finished with clean reviews, TT sent error messages when I tried to e-file the returns. With Jeanne's help we got through this issue too and my returns were finally e-filed successfully. Yeah! Hoping next year will be much easier because of the file transfer feature.
February 1, 2016
Rated 5 out of 5 by PRP972 Turbotax Business is a great program
Since Turbotax for business imports from my QuickBooks files, doing the 1120s was relatively quick. I've been using the program for 5 years so last year's information pulled over into this return, allowing for easy tie-in of the data that carries forward.
Even though I use QuickBooks payroll, for some reason, it always imports the entire amount paid, including taxes, as salary and always has to be divided manually. Not sure why, but it happens every year....
January 21, 2016
Rated 3 out of 5 by TDOTQA Why spend the money?
Beginning for tax year 2014 the Tennessee Dept. Of Revenue began requiring all F & E forms to be e-filed. TurboTax software however is not an approved software. I made the mistake of purchasing the TN State program along with the Federal 1120 Corp. tax software, but was unable to e-file the State F & E forms. I thought TurboTax would correct the problem and become acceptable to TN this year but I contacted them and they advised me TurboTax is still not approved.
January 29, 2016
Rated 2 out of 5 by dkeifjwl Not for the Novice
Where Turbo-Tax for personal use is very good at not requiring you to know anything about accounting or tax law, Turbo-Tax for business expects that you know quite a lot about accounting. I've had to resort to Accounting for Dummies books, and hours of googling to figure out why something didn't come out right, and even then it still didn't quite work 100% so I was stuck fidling with things until Turbo-Tax liked it.
And I had virtually no transactions in the past year.
January 26, 2016
Rated 2 out of 5 by StMcg very frustrating
We have a small company with no employees. It is an LLC partnership and we could not figure out whether we were a c corp or an s corp. None of the resources available helped us figure this out. The learn more button is helpful, but it is still tax jargon that is very difficult to understand. I don't think I will use turbo tax next year. CPAs are expensive, but peace of mind is valuable. I have no confidence that my return was filed properly. But I don't really care. I hate doing taxes.
January 31, 2016
Rated 5 out of 5 by GrandpaBart Another Year Done
I have used Turbo Tax for years since I have found it to be the most intuitive in understanding the actual information the IRS needs. In the Business application I feel confident that I have correctly provided all the necessary information in the right places because of all the TT checks. When I did forms manually, I was much more likely to make a mistake without realizing that I did not understand what was requested. Turbo Tax gives me the confidence that the forms have done correctly.
January 21, 2016
Rated 4 out of 5 by Kepaniwai Very thorough, but a bit confusing
This program contained the necessary forms for my partnership LLC, and is complete. Somewhat more difficult to use than the other turbo tax products. needed also to purchase another product to actually file a personal tax return. This product was able to complete my K-1, which I then transferred onto my personal return. However, I bought home and business as well, though discovered that if you got Business, you only really need any turbo tax that allows you to add a schedule K. also, I'm no tax expert, so I almost double reported my 1099 misc income on my personal 1040 that I already have reported on the Business return.
February 6, 2016
Rated 2 out of 5 by AstroGuyasb4 Form Filler, but not much more
If what you need to do is fill out a 1041 for a trust, this will give you the forms and will enter the information. It will print the Schedule Ks and let you electronically file.
So, what are the strengths? That's about it. The help files are basically directions to the IRS form and booklets. So I would not say that there was any value added help materials.
Frankly, if all it is doing is a 1041 for a family trust, then the product should be a part of the regular TurboTax product (like Deluxe or Home & Office#, but as it is, one needs to buy a separate program for a pretty straight forward set of forms with minimal #and no value added) help.
February 4, 2016
Rated 4 out of 5 by David1729 amended return--easy and free but US mail needed
After e-filing my 1120S and having it accepted by the IRS, I noticed a small error that needed to be corrected. So I came back to TurboTax to see if I could amend my return. The good news is that it was easy to do, and TurboTax walked me through the steps needed to amend. As my changes were simple, TurboTax made it simple for me to amend. Also there was no additional charge for amending which was quite welcome. The only drawback was that the amended return couldn't be e-filed even though I believe the IRS does allow e-filing of amended 1120S forms with some tax providers. Having to physically mail the amended form was a bit inconvenient.
February 2, 2016
Rated 3 out of 5 by NHInsider Filing options aren't clear
So this was horribly inefficient - I went through the whole process of completing the company's 1099s in TurboTax Business 2015, and only at the end (on the tab labelled "Print and File" did I discover that efile was not an option. And while you could print and then mail the forms, it is nowhere stated in the instructions that the 1096 and Copy As must be printed on the IRS's forms (the red ones). I wonder how many people will unknowingly file copies straight from their printers that the IRS won't accept?
For the record, you can buy or pick up the official forms - but if you have an injet printer you'll have to separate them and either run the "carbon copy" pages through individually, or just use the red ones, throw the rest away and print the recipient copies from the pdf.
February 5, 2016
Rated 4 out of 5 by Brucefal Good, Partnership Return still needs serious work
For initial partnership filers, beware. If you have capital contributions of depreciated assets, you need to fake out the computer with dates to allow the proper entry. TT doesn't make it easy. Search the help site and find the postings I made on how to do it (search "capital contribution of accumulated depreciation entry"# and it should be somewhere there.
Also, be very careful when you add in partners. If you look at the forms and look at the partner info, it may generate a blank K-1 in the State return. You have to delete the entire State return and start over to delete it.
Finally, if you will be answering Schedule B question 3 #b) as "yes", it WILL NOT transfer correctly to your return, even when you check it just before emailing. If the IRS questions me on it, I am just going to refer them to Turbo Tax to deal with it. I entered the data 5 or 6 times and it kept being deleted.
February 3, 2016
Rated 1 out of 5 by DonovanVincent Messes things up every time
Importing from Quickbooks, which is 90% of the reason to use Turbotax, messes things up every time. Turbotax's abilities to make corrections are extremely limited. Because it's set up like a step-by-step guide, you can't jump around and fix / compare things in multiple locations at once.
For instance: it'll tell you there's an error on a line in the return. That error is dependent on a number from another location, but you can't go to that other place and correct both numbers at once. So you end up fixing something, which creates another error, which you have to hunt down and fix. The final 30 minutes is spent on a bevy of manual overrides which I can only imagine are messing things up - all because the data wasn't imported correctly in the first place (which I can verify by looking at the numbers in the Quickbooks file).
Considering Intuit makes both TurboTax and Quickbooks, this is a ridiculous situation.
December 19, 2015
Rated 4 out of 5 by EZhouston It's still good, but watch out with corrections
I have been using TurboTax for personal filings since they started. For the last 6 years I have used the business edition as well. I have noticed over the years that although the interface seems a little more clean and elegant every year, it has become harder and harder to navigate when a correction is made. The program will ask a question and once you give the answer, something gets stored that tells it what your answer was, and even if you come back to change it, that information stays stored and it is hard to figure out how to come back to clear it. I have gotten better at it, now that I know what to look for, but beware, unless you get the right answers on your first shot, you will have to come back and scrutinize your forms carefully to make sure they are not including a partial error from an original answer. Some of this may be avoided if I could just do an import from QuickBooks online, but despite being from the same company, I just do not believe the feature is available.
February 1, 2016
Rated 3 out of 5 by OldMilFlyer 2015 TurboTax Business - Eh it's ok
As Intuit tries to make things easier, it makes them harder. This years TurboTax business with California state took longer than any year before, and we have very simple books. Our business is significantly leaner than last year, we moved all operations to one state, we are only a service company, we don't sell any products. The California forms got all wrapped up in product sales questions.
Notes - No easy way to take an item off of the asset list, like a computer that died before fully depreciated.
QuickBooks balanced out just fine, and yet the numbers imported to strange locations, and TurboTax didn't balance. Yes we do a balance sheet even though it isn't required, so I can see how much of my money is in the business.
We don't own any real estate in the business and never have, we record rent in quickbooks as an expense on the tax line "Rent".
This triggered the forms for rental property, and I had to manually override this in the forms. It still sent the blank forms for real estate to the IRS and state of CA.
If you use a PMB, the federal form has no entry for "STE" or "PMB", and California requires it. How hard can it be to add those fields and just space delimit them for the federal forms?
The only solution appears to be
1. finish and file federal returns
2. edit address in federal return
3. finish and file state returns.
January 24, 2016
Rated 3 out of 5 by MiffedExecutor Mixed opinion on support for executors
As an executor for my mother's estate, I was hoping that TurboTax Business was going to ease the pain in filing an estate income tax, but I probably spent as much time figuring out how to get around app issues as working on the return itself.
First issue was it wanted to use a short year instead of a fiscal year for filing. This appears to be due to choosing both first and last filing during the interview with an ending month of Sep. The only workaround I could find was to treat it as a first filing only for a fiscal year, then go directly to forms later and check last filing.
Second issue was recording the sale of my mothers house. With a fiscal year of Oct-Sep, I expected to record the sale in August '15, but the program would only accept sales in 2014. The workaround was to create the sale in Dec '14 and go direct to the forms later and adjust the sale date.
Distribution of income to beneficiaries is non-obvious and confusing (e.g. percentages vs. actual amounts, total vs. individual). I finally figured out a way by making one pass through then looking at the worksheets and reworking the K-1 forms. The interview process probably needs a lot more work here in distinguishing distributed funds from distributed income, adjusted distributable income, and distribution by percentage vs. actual amounts.
Electronic filing was a mess. After error check passing, I tried to e-file. However, the app had created a form with all zero amounts and the e-file check didn't like it (even though error check passed). I finally had to delete the form to allow e-file to continue. After e-file, I got a rejection notice due to IRS and the app not agreeing on internal filing versions. This shouldn't happen for a tax year starting in 4Q since the tax software has been out for a long time (updates were current). I gave up on e-file and printed the forms to file by mail.
Did the app help me with filing the estate income tax? Yes. Was it worth the effort? Maybe.
January 14, 2016