TurboTax Review 2024 + Online Walkthrough BY A CPA | Pros and Cons

In this video, I do a complete walkthrough of TurboTax Online for 2024. As a CPA, I can comment on what I like and what I don't like about the software, especially the things that TurboTax tries to sell you. So not only is this a TurboTax Tutorial for 2024 — it's also a TurboTa Review for 2024. Yay. However, doing your taxes can be boring, and I literally fall asleep at one point in this video. 😴

Table of Contents:
0:00 TurboTax Review 2024
0:51 The Tax Documents I'm Using (Form W-2 for Wages, Form 1099-B for Stocks, Etc.)
1:39 How This TurboTax Walkthrough Review Is Going to Work
2:54 TurboTax Isn't Breaking Down All the Different Versions
3:58 They're Really Pushing the TurboTax Live "Assisted" and "Full Services" Versions
4:37 Creating an Intuit Account
5:23 Third-Party Tracking Opt-In
5:54 "We're Glad You're Here!"
6:06 How Did You Do Your Taxes Last Year?
6:14 Basic Situation
6:58 "How Comfortable Do You Feel Doing Your Own Taxes?"
7:29 Upsell #1: TurboTax Live Assisted for $169 Federal + $49 = $218
9:48 Pricing Confusion
11:06 Time Estimate
11:13 Inputting Your Name, Date of Birth, and Occupation
11:45 Inputting Your Social Security Number
11:59 Inputting Your State of Residence
12:32 Rare Situations
12:44 About Your Household
13:05 Adding Your Dependent(s)
14:21 Filing Status
14:47 Asking Your Permission to Use Your Information for Advertising Purposes and to Share Your Data With Intuit
15:47 Upsell #2: TurboTax MAX for $59
16:12 Questions About Retirement Plan Withdrawals, Dividends, Interest, Capital Loss Carryforward, Foreign Assets
17:12 How to Import W-2 in TurboTax
20:26 Uncommon Situations About Your W-2
20:51 Investment Income Questions
21:08 Connecting Your Financial Accounts to TurboTax
21:50 My Personal 1099-B Information (M1 Finance)
22:33 My Rant About Dividends
23:26 How to Enter Form 1099-DIV in TurboTax
25:10 Nothing on My Form 1099-INT and My Form 1099-MISC
25:58 How to Enter Form 1099-B (Stock Gains and Losses) in TurboTax
30:47 Margin Interest
32:05 Upsell #3: TurboTax Live Assisted (AGAIN!)
33:45 Additional Questions
34:04 Tax Breaks
34:42 Child and Other Dependents Tax Credits
35:14 Charitable Donations
35:49 Standard Deduction vs. Itemized Deductions
35:56 QBI Deduction Summary
36:12 More Uncommon Situations
36:27 Underpayment Penalties
36:34 Watch Me Literally Fall Asleep For 10 Seconds
36:44 Underpayment Penalties (Etc.)
37:55 Confirmations and Other Reviews
38:31 Did You Make Money in Other States
38:46 Federal Taxes Summary
39:17 State Income Tax Return in TurboTax
42:34 Upsell #4: Go Over Your Tax Summary With an Expert
42:42 How Much Time This All Took You
42:52 Upsell #5: TurboTax MAX for $59 (AGAIN!)
43:04 Total Cost: $128 for Federal and State
43:33 TurboTax Pros and Cons
45:41 Upsell #6: TurboTax MAX for $59 (AGAIN!) and Will Builder for $39
45:53 Why I Do This

#turbotax #turbotaxandrelax #taxseason

[PaulDeLeo]

Tip from a TT employee: Don’t enter zeros unless required to do so. The reason why is because it sometimes triggers unnecessary forms to be added to the tax return which often cause Review This Entry issues during the review step because they are incomplete. You must then use Tax Tools to delete the unneeded form that was added to the return.

[johndraper]

Went thru it all, got to the end saved it and printed it.... came back to open existing file... nothing ! So where do i go to find my lost saved return

[AnasKhan-uwvf]

can we file without EFIN and PTIN ? USING TURBOTAX

[taijistar]

Why they have not released 1065 forms?

[miraclelove]

Do something hard. File AOTC using Form 8863 with Turbo Tax?

[vv-cvud]

You must a Big Mac before this . But we appreciate your efforts sir . Thank you for insightful