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Online Tax help?/ question?
Ok.. last year I did the same that I did this year, and entered my info on TaxAct.com, and Turbotax, just to see the difference, last year they were a few dollars difference, but this year the return is different by 2k!!!! 
Why is one different from the other by so much? They all asked the same questions, and they are two of the top online places to E-file.
Any suggestions?
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Posted 1/22/07 1:25 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
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Re: Online Tax help?/ question?
I'm not sure of the answer, but what is taxact? do you have to pay for it? or do they just check your taxes?
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| Posted 1/22/07 1:29 PM |
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Re: Online Tax help?/ question?
Its the same as turbo tax, its online free e-file. It also has different "packages" like Turbo Tax that you can buy for state or whatever, but I don't need that, (we live in FL now).
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| Posted 1/22/07 1:31 PM |
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Re: Online Tax help?/ question?
Sorry to bump, but I am surprised this hasn't happened to anyone??
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| Posted 1/22/07 6:08 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
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Re: Online Tax help?/ question?
Go through the deductions and credits. That may be why there is such a discrepancy. Is it possible that you are subject to AMT and one program is not calculating the taxes correctly?
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| Posted 1/22/07 6:33 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Online Tax help?/ question?
Posted by HereWeGoAgain
Its the same as turbo tax, its online free e-file. It also has different "packages" like Turbo Tax that you can buy for state or whatever, but I don't need that, (we live in FL now).
Is it possible one is including intangilbles tax?
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| Posted 1/22/07 6:34 PM |
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Re: Online Tax help?/ question?
Last year I entered the interest wrong on turbo tax and then I realized what I did and fixed it. You could have made more money and even a few thousand increase can make a difference. I would compare all your paperwork from this year to last year and write out the differences and that should help you see were the difference is
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| Posted 1/22/07 6:39 PM |
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Re: Online Tax help?/ question?
Posted by shamrock124
Go through the deductions and credits. That may be why there is such a discrepancy. Is it possible that you are subject to AMT and one program is not calculating the taxes correctly?
We actually made less this year than last year, but this Year have Abbigaile to Claim... so I know that that has a lot to do with it, but I still don't get the HUGE discrepencies.
Not to sound totally naive.. but what is AMT and intangilbles tax? 
TIA for all of the help, BTW. 
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| Posted 1/23/07 6:44 PM |
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