How to Prepare Taxes Using TurboTax
TurboTax makes preparing your tax return easy. You don't have to worry about sharing your information with anyone but your computer. It will save you time and money. Although there is a cost for TurboTax, it is cheaper than having a professional do it. The following will help you learn how to prepare your taxes using TurboTax.
Other People Are Reading
Instructions
-
-
1
Find the best price for TurboTax and buy it. You can check prices at Office Max, Office Depot, Staples and Best Buy, or you can look on the Internet. There is a site in the Resource section below that will show you the different prices.
-
2
Install TurboTax on your computer. Put in the CD and follow the instructions and you will have TurboTax running in minutes.
-
-
3
Gather all the information you will need to file your taxes. Include all your medical expenses, as well as W2s, 1099s and interest received.
-
4
Proceed through the interview. By filling out these simple questions, you will help TurboTax help you. The program will know what forms you need to fill out and proceed to add the common knowledge in each of the forms.
-
5
Fill in all the information that TurboTax asks you for. This is where you will need all your records. Make sure you double check your work. Entering the wrong information could raise or lower your taxes and make you subject to an audit.
-
6
Download the TurboTax for the state you pay taxes to. With your purchase of TurboTax, you get one free state download. If you need more than one state, you will have to pay an additional sum for the second one.
-
7
Complete the state form. TurboTax will automatically copy the data that is pertinent from your federal form to your state form, but there may be some things that your state requires that the federal doesn't.
-
8
File your return by efiling or print it out and mail it in. By using efiling you will get your tax refund faster. However, you do have to pay a fee to efile.
-
1
Tips & Warnings
Research TurboTax prices, they can vary quite a bit.
Let TurboTax do as much of the work as possible, this will make your life easier.
