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TurboTax Premier Federal + State 2007 guides you through your tax return, with simple-to-understand questions to help you finish and file your taxes. Find over 350 deductions, accurately value your investments, and account for life changes like retirement in order to get the largest tax refunds possible, guaranteed. If you need help, you can get advice from the Live Community with millions of taxpayers and experts ready to answer your questions. Get More Out of Your Investments Whether you own stocks, bonds, mutual funds, rental property, or all of the above, TurboTax Premier helps you get your maximum refund guaranteed. Explore More Than 350 Deductions Kick back and watch as we search your return for over 350 deductions, including mortgage interest, donations, and education. When you sell investments, TurboTax Premier helps you accurately report your profit. We find your purchase price in just 3 easy steps.
Discover Your Most Profitable Depreciation Method TurboTax Premier walks you through reporting depreciation of rental properties. We even show which depreciation method will get you the biggest deduction. Find Over 20 Deductions for Landlords From travel to advertising to insurance, TurboTax Premier uncovers every deduction for your rental property. Take a break while we do the handy work. Increase Your 401(k) Savings Boost your 401(k) contribution without hurting your paycheck. Choose to put your refund into your 401(k) plan and watch your interest grow. Choose Easy NEW. Reduce Your Risk of an Audit Take comfort. TurboTax Premier shows you how unlikely your return is to catch the IRS attention. We arm you with proof for your claims and help protect you from any IRS penalties. Import Your Investment Information You dont have to find your statements (or understand them. Import your investment info from thousands of financial institutions, including Merrill Lynch and Ameristar. Easily Determine Capital Gains and Losses Its simple. TurboTax Premier finds your capital gains and losses automatically. It keeps track of those that carryover to future tax returns year after year. NEW. Learn from the Live Community No research necessary. Just ask the Live Community questions and get answers for your situation. View advice from millions of taxpayers and experts right on your screen. INCLUDED. Prepare Your State Return Watch your federal info instantly transfer into TurboTax State. Youll be half finished before you even start your state return. Includes Everything in TurboTax Deluxe Explore Over 100 Deductions for Life Changes If you had an eventful year, congratulations. Well handle your new situation upfront so you can finish your return with confidence. Heres how TurboTax Premier manages some of the possibilities: Sold Investments TurboTax Premier finds the original purchase price of investments you sold. We automatically factor in dividends and stock splits along with mergers and acquisitions to keep your taxable gains low. Retired Its simple. We determine how the IRS will tax your investment distributions as regular income or at the lower capital gains rate. Plus, we tell you if paying estimated taxes will keep more money in your pockets. Rented Out Your Home It pays to be a landlord. TurboTax Premier shows you how to claim your second home as rental property. Then we reveal 20 deductions for it, including travel, repairs, and insurance. Benefited from an Estate or Trust If a K-1 (1040) form landed in your mailbox, relax. Its not as complicated as it looks. TurboTax Premier automatically calculates your taxes owed. Plus, we help you qualify for deductions, such as those for attorney fees and interest expenses. TurboTax Premier also handles buying a home, selling your home, getting married, and having a baby. Join the Millions Who Trust TurboTax Relax. TurboTax is dedicated to protecting your personal and financial information. From the most advanced technology to our relentless Privacy Team, we have you covered. Your Information Travels Safely We protect your info like the Department of Defense protects theirs. Before you eFile, TurboTax encodes your information with the most advanced encryption technology. Only our computers can decode it, so you dont have to worry about unapproved viewers. Your Computer Stores Your Information After you eFile, rest assured only you can access your return. TurboTax CD and Download products store your information right on your computer. You control it. Our Commitment to You Our Privacy Teams only job is to guard you and your information. Tax Forms Its not as bad as it looks. Here are just some of the forms that TurboTax Premier Federal + State fills out for you: - Form 1040 Individual Income Tax Return
- Form 1040A Individual Income Short Form
- Form 1040EZ Individual Income Tax Return EZ
- Form 1040-V Payment Vouchers
- Form 1040X Amended Individual Tax Return
- Form 1099-DIV Dividend Income Worksheet
- Form 1099-G Certain Government Payments
- Form 1099-INT Interest Income Worksheet
- Form 1099-MISC Miscellaneous Income Worksheet
- Form 1099-MSA Medical Savings Account Distribution
- Form 1099-OID Original Issue Discount
- Form 1099-Q Qualified Education Program Payments
- Form 1099-R Distributions from Retirement Plans Worksheet
- Form 1116 Foreign Tax Credit
- Form 1310 Stmt of Person Claiming Refund
- Form 2106 Employee Business Expenses
- Form 2120 Multiple Support Declaration
- Form 2210 Underpayment of Estimated Tax
- Form 2210AI Annualized Income
- Form 2441 Child and Dependent Care Expenses
Plus tons more to get all of your taxes taken care of.
Customer Reviews
great purchase
Rating: 5
product was offered at a great price. excellent communication between seller and buyer. great service!!!
California calculation errors for stock options
Rating: 1
This product worked really well until I got to the California return. As other reviewers have stated, the program makes a significant error calculating California taxes when it comes to employee stock options. The program double-counts profits for AMT purposes, and so it calculates that you owe more tax than is correct.
Even worse than the software having the bug, the response of Turbotax support has been very disappointing. I emailed them with a description of the bug on February 1, and then I discovered a workaround to the bug on my own and emailed them with that solution on February 4. They sent me an email back thanking me for my feedback but said they couldn't guarantee that a patch would be issued.
They have a live community forum, to which I also posted a description of the bug and a workaround. But this only produced a few replies from other people who are also seeing the same bug. And the search engine for the forum is so poor that it is nearly impossible to find the post that I wrote, even if I type the exact title of my posting in the search engine window.
Other people on the community forum (as well as other Amazon reviewers) have reported this bug as well. I found one post on the community forum stating that an update would be available on February 15, but as of today (Feb 23), the error still exists. Also, once an Intuit employee answers a posting, it seems to be marked as "solved" and no follow-up postings are allowed (even if it is not really solved.)
Had I not carefully reviewed the forms this program generated, I would have paid thousands of dollars more to California than I owed, so I cannot recommend this program despite the otherwise superior user-interface. In past years I have always used TaxCut, which is more difficult to navigate but has never produced an error like this.
For anyone else in my situation, here is a workaround to the problem:
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On the Federal forms menu, on each Capital Gains Worksheet, line 38 gives a choice to report the transaction as single-line or multiple-line. Multiple-line is selected by default. By selecting single-line on each transaction, my California AMT and my total California taxes were reduced substantially.
The fact that "single-line reporting" shows a different result than "multiple-line reporting" proves without a doubt that this is a Turbotax bug. There should be no difference in the tax calculated due to the reporting format.
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Premier Product
Rating: 5
This product lives up to it's name. It's very user friendly and easy to navigate after you initially get used to the different screens. I have to say I was very pleasantly surprised at using this software. This is the second year I have used it and will probably use it again next year.
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