TurboTax Review 2018 – 2019 – The Easiest To Use Online Tax Software Option

(ethereal music) – Hey guys, it’s Robert
from The College Investor, and today we are going to dive into TurboTax 2018/2019, and I’m gonna break
down why I love TurboTax and why I think it is one of the easiest-to-use
pieces of tax software that is out there right now. However, the big drawback with TurboTax is always the pricing, so you do pay a premium to use TurboTax, and I wanna show you if
it’s worth it or not, and who should be considering TurboTax. Now, they do have their free
option again in 2018/2019, but as always they
limit their free option, which is one of the big reasons why we don’t recommend TurboTax
for free filers this year. We actually recommend H&R
Block because they have the most robust free
file option available, that’s still extremely easy to use. That’s not to say that TurboTax isn’t the best
tax software for everybody. There is definitely some people who will find a lot of
value in TurboTax this year, and I wanna dive in and show you exactly what you’re gonna get when you use TurboTax 2018/2019. So, let’s dive into the review, and I’m gonna share my
screen with you right now and show you exactly what
you’re gonna get this year. All right guys, so when we
dive into TurboTax this year, this is what we come to on the home page. TurboTax is advertising free guaranteed $0 Fed, $0 state, $0 to file. Easily and accurately file your
simple tax returns for free, and that’s the kicker is
that simple tax return. So, let’s see what actually is free. So, TurboTax is free if you have only the following situations: W-2 income, limited interest/dividend
reported on 1099, claim the standard deduction,
Earned Income Tax Credit, and Child Tax credits. This is where TurboTax is not free, not covered in free edition, is itemized deductions, business income, which also includes side
hustle income, guys, stock sales, rental property, and credits, deductions, and income reported on Schedules one to six, which includes the Student
Loan Interest deduction, and that’s the bummer there, guys, because TurboTax has a
great, easy-to-use product, but they just don’t make
it free for enough people compared to other tax filing options, and if you find yourself having
to use the Deluxe version, which is their cheapest paid version, you’re paying a lot more than
you’d find on other platforms like H&R Block or TaxSlayer, and those are cheaper, and they have a really
good interface, too. It’s not as good as TurboTax,
but it’s pretty darn close, and if you’re paying half the
price it’s probably worth it. So, let’s dive in and see what TurboTax
looks like this year. When you log in, I’ve actually
already input my return, and due to some technical difficulties you missed my first go-around, but I’m gonna do the best I can to show you exactly what
TurboTax looks like this year. So, when I go to my return, you can, let’s start at My Info here, you could see how easy it is to enter all of your personal information. You could see this year I’m
going with a Home Alone theme, and I’m going with Kevin McAllaster, the boy from Home Alone. Guys, everything on here is fake. I appreciate the concern. I get a couple comments every year that, oh my god, I could see your social, and your address, and all this stuff, and it’s all fake, guys. I don’t even know what
555 San Diego Avenue is, but it’s a cool address
if you have that address, and then Rick James is
definitely not my son, even though he’s hilarious, but here you go: you can enter
all your info, your name, your birthday, your social
security, your occupation, what state you lived in, and then a few other random
questions here at the bottom. You enter your filing status:
single, married, divorced, registered domestic partnership,
legally separated, widowed. Your dependents. Did you make any money in other states? No, I didn’t. Did you pay for more than half
the cost to keep your home? Yes, I did. And then you have your address and you’re ready to rock and roll here. The one thing you’re also gonna
notice throughout TurboTax is these upsells. They’re always trying to get you to upsell to one of their other products. You don’t need most of these. You could break it down on the blog. You can see what’s useful for you or not. Then it comes here to your income. Let’s add some W-2 income. Here’s my job. I work at San Diego Company
right here in San Diego. Your employer identification
number, your company name, your company address, your
income, your everything. This is all on your W-2. Should only take you a
couple minutes to enter. The other cool thing is that
you can also input this, you can import this or you could take a
picture on your smartphone and rock and roll. Some uncommon situations
with your W-2 here. None of those apply. So, we’re done with W-2s. Let’s add a… How can we help you add income? Let’s Guide me. Do you have another W-2 to enter? No, I don’t. Do you have self-employment income? No. Did you receive unemployment benefits? No. Did you get a 1099-G that wasn’t for work? No. Did you make money on interest? Yes, I did. All right, interest income. Let’s say I got a little
interest in my bank account. So yes, I did get some interest income. You can connect it right here if you have any of these companies, but I’m just gonna enter it myself. I’m gonna receive it from USAA bank, and I made $121.11. Cool. All right, and then none of these apply. Do you have any interest income from another bank or brokerage? No, so there you go. Got my interest income. Did you receive any dividend income? No, I did not. Boom, and so there’s all my
income for the year, guys. Did you sell any stocks? No, I did not. Did you have retirement
income, rental property income, other business income, partnership income, cancellation of debt, and that’s it. So, there all my income’s done, but you could see all the
different options here. They make it so easy to go and
navigate through everything. Another kind of upsell. Did you know that we have live CPAs that could help you with your taxes? And then they’re gonna
try to upsell you to that, and then no, I don’t want that. I’m gonna skip it for now, but as they said, always in
the top-right corner here you could get the live tax advice. So, now for the fun part, your tax breaks. So, we’re gonna have our Child and Dependent Care Tax Credit, Earned Income Tax
Credit, Child Tax Credit, car registration fees, income taxes paid. That’s all pretty easy. The standard deduction
is what’s right for you. It’s gonna be right for
most tax filers this year with the tax law changes. Health coverage, we all had
health coverage this year. Even though there’s no penalty this year, you still have to report it, so it’s kind of interesting that there’s still technically a penalty. The penalty just happens
to be set to $0 for 2018. Yeah, and then you can
dive right into your state. You choose your state of residence. You continue. It imports all your information over, but none of these tax
forms are quite ready yet. They’re not gonna be ready
till January, but that’s okay. Even though we want to be an early filer, it doesn’t pay to file before
you have all your tax forms, otherwise you might have
to amend your tax return. So, well done. All of our info is saved in
here, and now we are all done, and we can wait to file
early if we wanted to. So, hopefully you could see here that TurboTax is super-easy to use. I really like it. If you’ve never filed your taxes before, it’s one of the easiest ways to file, but it also is expensive if you don’t qualify for free tax filing, so if you qualify for free tax filing, I strongly recommend that you take advantage of H&R Block or TaxSlayer this year. They both have excellent
pieces of software. H&R Block has the most
robust free tax filing, so it has the most options, and then TaxSlayer has
some of the best pricing for every single form available. It’s only $17 for all the
forms on their Classic edition. All right guys, well, hopefully that answers your
questions about TurboTax, and yeah, let me know
in the comments below. You guys usually do a great
job of this every year. Do you like TurboTax? Do you not like it? If you’ve found any bugs or errors, we’d love to know about them, guys. All right, thank you very much, and I’ll talk to you next time.

59 thoughts on “TurboTax Review 2018 – 2019 – The Easiest To Use Online Tax Software Option”

  1. This is a great idea! I liked your video a lot…although I will continue going through a CPA due to my LLCs and rental income.

  2. I worked for a company which was sold to a private owner during the tax year.will I get 2 w2s or will it be together on one

  3. Helllo, question about filiing our federal taxes married/jointly. Our question is we were married in May with our W-4 both single. Then June 1 we changed our W-4 to married 1 each. When filing our federal taxes is there a way to make 50% of the years tax liabilty as single and the other 50% of the year tax liability to married. If not, we are considered to have a married tax liability for all 12 months of the year.

  4. i’m a student so i only have one part time job. so i have a W-2 form and nothing else, will it actually be free then in my case?

  5. Turbo tax is a scam. Now they charge for everything you do. Federal state and they charge you for taking the fee out of your refund. Nothing FREE about it

  6. How can you support a product that lies!!! I need to correct my unfiled return. Can I? No! Turbo says to click this button and than button. But NONE of the buttons exist.

  7. Is turbo tax fine, if u want to deduct mortgage interest? I don’t trust it.. my refund says its the same before and after I entered all my loan and tax info in.. pretty sure I’m about to get scammed..

  8. I have all my w2s and proof of school payments I believe that’s the 1098. Can I file for free? Also will maximize credit and deductions would be a good option? First timer ☺️ ☝?✍?

  9. I get 1099misc from being amzn affiliate. I can write off a certain amount my expenses right? Also, which of these platforms is best for sales of bitcoin? Thanks.

  10. Are you able to input info to see if it worth it before sending or as you input does it go directly to irs? I use h&r block every year but I wanted to see if this would be cheaper, but I want the option to see the outcome before submitting, that way if I don't like it I would go back to h&r block.

  11. I hope you can address this concern regarding health coverage. In 2018 I was uninsured for 3 months (January-March)then after my employer closed down for business so I became jobless for another 2 months (April-May).On June I found a new job but in order to start getting coverage my employer required me 2 months probation so (June-July). From there i had coverage for 5 months (August-December) Will I get a penalty?

  12. I've always wondered if you can do more than one tax return with TurboTax or H&R Block. What I mean is, can I do mine and also do my adult sons? Or, can you only do one complete return??

  13. Over played Free Free Free commercials then you find out its not free and not even state taxes are free like previous years, so price is double last years. very deceptive commercials and should not be allowed this false advertising. even while doing taxes they continue to try and trick you into paying more. cheaper to go to an actual human tax rep.
    dont recommend this site.

  14. Just did my taxes for 2018. turbro tax is free but midway thru the filing process they ask u if u want a plus version for like 20 bucks but u can reject it and stick to the free version

  15. I am J1 student so I live out of United Stated, Can I use TurboTax for my tax return or I have to do the process with the IRS?

  16. I don't trust Turbo Tax because I put in my Bank interest and when I went to look at the preview it had it doubled. I went back and deleted it and put the information back in it still doubled it. So I think I will be looking for something else. Thanks so much for this video.

  17. I used turbo tax I got scammed by turbo and IRS missing 4400.00 from federal only got back 17.00 received full amount from state. I have no off set .

  18. Is it better to download or due,it online or purchase the CD from a store? Does it matter? My computer is so old I'm worried about CD working with Windows Vista. Thanks

  19. How does the car registration deduction page work?? I didn’t understand that at all. It asks you for the deductible amount from what you paid for car registration, but my reg card only shows the total amount I paid. I called the DMV and the rep told me he just tells his CPA that total amount listed on his reg card. Not helpful.

  20. You get what you pay for. You can pay or get something for "free". By experience you should know that there is a balance that works here, as with everything else in this world.

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