What is TurboTax® OnlineSM?
TurboTax
Online is an online (Internet) tax software program that allows you to
self-prepare and electronically file your tax returns. It is easy to use and
understand.
TurboTax Online uses an interview style format to
lead you through preparing your taxes. The
answers are then properly placed on the appropriate IRS forms. You just answer the questions and the program does the
rest.
How do you
access TurboTax Online? You can
click on the ad in the upper right hand corner of these
internet pages or you can click any
TurboTax Online linked text regarding tax services.
What is the
process for using TurboTax Online?Once you click on the
TurboTax
Online ad, or any other
TurboTax Online linked text, you will be taken to a welcome page for
TurboTax Online and
Jackson
Hewitt. Click on the
TurboTax Online button and you will be taken to a page displaying a
description and the pricing of each package. You'll need to
select which TurboTax package you want to use. Once you make your choice, you'll
be taken to a sign-up page. At this point, input your user
name and password from last year or sign-up as a new user and create a unique
user name and password. After entering your user name and password,
you will be logged into the
TurboTax Online
program and will be ready to start preparing your tax return.
How will you
know which package to use? When
you access
TurboTax Online, there is a brief description of each package on the welcome page. If you are
still not sure of which package is right for you,contactthe Tax Services Support Center.
The
following are brief descriptions of the
TurboTax Online packages:
TurboTax Online
Basic is for those who
need to file a 1040EZ and other simple tax returns.
TurboTax Online Deluxe Deduction Maximizer
is for those who want to maximize deductions.
GECU members receive a 10% discount when using this package.
TurboTax Online
Premier Investments is for those who own stocks, bonds, mutual funds, or rental properties.
TurboTax Online Home &
Business is designed for a sole proprietor, consultant, contractor, or
single-owner LLC.
When do you have
to pay for TurboTax Online? You
will be prompted to pay for
TurboTax Online at the end of the program. One of the advantages
of using
TurboTax Online is that
you can go through the whole program, save it, come back to it, etc.,
before you are charged a fee. You'll be charged for the program when you're ready to print or electronically file your tax return.
What if you
have questions about the program or experience technical problems while using
TurboTax Online? Is there someone to call for support?
When using
TurboTax Online through GECU,
you have FREE, unlimited use to a support
center available for GECU members. If you purchase this program
elsewhere, there is a charge for this type of support. You can call the
support center during the hours
listed below.
When will
TurboTax Online be available?
TurboTax Online is currently available by clicking on the ad in the upper right hand corner of these internet pages or by clicking any
TurboTax Online linked text regarding tax services.
The
program will be available online throughout most of the year (typically through
mid-October) if you need to go back and finish a tax
return, file an extension, or print additional copies of your tax return.
TurboTax can be found cheaper in the store, so why would I want to use TurboTax Online?
There are a lot of reasons for the
price difference. Some retailers may discount the store (desktop) version as a
way to get you into their store. One very important factor to remember is that
once you buy the store (desktop) version and take it out of the box, you have
essentially purchased it and can’t return it. However, with
TurboTax Online, you
can go through the whole program and calculate your tax return before you are
asked to pay for it. With
TurboTax Online,
you only pay when you print or electronically file your tax return. With the
store (desktop) version, you have to pay for it before you walk out of the store.
The
TurboTax Online version
also comes with the state version included in it. The state calculations are a
function of your federal tax return, so with
TurboTax Online, once you finish
your federal tax return, your state tax return is almost complete. Just answer a
few follow-up questions and you are done with the state tax return as well. The
store (desktop) version has a separate state software package that you have to
actually buy and load on your computer. Both the web and desktop versions have a
state electronic filing fee.
Plus, when purchasing
TurboTax Online
through the credit union, you'll receive a 10% member discount on
TurboTax Online Deluxe Deduction Maximizer.
This is one of
TurboTax Online's most highly-used packages as it maximizes the
amount of deductions possible.
The store (desktop) version
also limits you to one computer when working on your tax return. With
TurboTax
Online, you can access your tax return anytime, anywhere from any computer that
has Internet access.
Typically, the store
(desktop) version also says that it includes a “free electronic filing”
(eFile) with the
purchase of the software. However, the reality is that you must first pay the
eFile fee up-front with your credit card and then send in a rebate
coupon to get your money back. With
TurboTax Online, your FREE eFile is included in the price of the product you
choose - no rebate coupons are required.
Also, the store version
doesn’t come with FREE tax support
services. For those who purchase the store version, any technical or
customer service issues about TurboTax must be handled through the fee-driven
support line.
