TurboTax Premier Federal + State 2007 [OLD VERSION]
![TurboTax Premier Federal + State 2007 [OLD VERSION]](/Images/B000W3T6NM/medium.jpg) | Average Customer Rating: Recommend TurboTax Federal + State Premier 2007 is great for maximizing deductions, investments and rental property. It guides you step-by-step and checks for errors asking you question in plain English then puts your answers on IRS- and state-approved forms, double checks your return for errors, and then alerts you to audit risks to help you reduce your chance of an audit. Also includes everything in TurboTax Deluxe.… Product details and pricing info |
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66 Customer Reviews Posted
- they slipped this year
- Always depended on turbotax but this year they slipped. Took several times to get thru to them for updateing... must have been alot of folks trying at the same time. Several steps were confusing. Usually they explain all very well but this time I was stuck on what to do next. After several days I got it to work.
I've used turbo for years but next time I'll check out other software. - 2008-03-29, 2 of 2 people found this review helpful, Rated:
- Premier not worth it
- It does not import cost basis for stock trades!! I own the Deluxe version of TurboTax and upgraded to Premier for an extra 30. I've been using the software for years and find it easy to use. Definitely better than TaxCut. One thing I've always dreaded about preparing my taxes was entering investment information. You can import sales but if you have many trades it can be cumbersome to calculate cost basis and purchase dates. So I discovered that this version can import the cost basis from your broker. Well my broker (ETrade) was listed as one of the financial institutions you could import sales from but apparently they don't provide the cost basis information. You don't find this out until after you've upgraded. The whole purpose of the upgrade for me was to import cost basis, so the upgrade was a total waste of money.
- 2008-03-27, 2 of 2 people found this review helpful, Rated:
- Know what you're doing
- Turbo Tax was pretty easy to use, however, if you do not know a lot about taxes and might need some help, their phone in line had over an hour hold in early February. I can't imagine how long it would be closer to April 15. And if you email them a question, you have to wait 24-48 hours for a response, and it doesn't answer the question at all. They pick a key word and cut and paste a standard answer. I had some NUA issues and they know nothing about what it was, let alone how to report it. They also charge to efile, it was around $35 to file both federal and state. So the software combined with efiling costs matched what I paid an accountant. If you have a resource to answer questions, it works well and you can get your taxes done in a day. If you don't know much about taxes and don't know anyone who does, you probably should still have someone else do them.
- 2008-03-27, 3 of 3 people found this review helpful, Rated:
- Transfer of Last Year Data from TaxCut - Misleading Statement from User Support Site
- I attempted to transfer prior year data from TaxCut software, which I used then. After receiving an error message, here is what I read on TurboTax support site:
"Transferring from TaxCut
Here's how to transfer from your 2006 TaxCut return to TurboTax 2007:
You need last year's TaxCut return file on your hard drive. Search your hard drive for your TaxCut return file. TaxCut 2006 files have a .t06 file name extension. (See Search for Files and Folders.)
If the TaxCut file is on a storage device (such as a floppy disk, CD, or other storage media), copy it to your hard drive. You can copy your return to any folder on your hard drive. We recommend copying it to the My Documents folder or another folder that you can easily remember.
Open TurboTax 2007.
To start a new return, select Start Return from the Welcome screen, or go to the File menu and select New Tax Return. If you have already begun entering your 2007 return, any existing information will be lost when you transfer.
If your TaxCut file is listed on the Transfer Tax Return Information screen, select the file. If the file isn't listed, select Browse to Find File, navigate to your TaxCut file on your computer's hard drive, and then select Open.
Select Transfer Return, and then select OK to confirm the transfer.
If your TaxCut return is password-protected, enter your password at the prompt, and then select OK.
The relevant information is transferred from your TaxCut 2006 return to your TurboTax 2007 return. You can review your transferred information and add, edit, or delete items as necessary. (See Review, Edit, or Delete Transferred or Imported Information.)"
Now, here is a response that I received from TurboTax E-mail Support in regard to the error message I was encountering, after my unsuccessful repeated attempts to follow the guide from the Support Web Site:
"...when attempting to transfer TaxCut information into the W-2/1099 Reporter, the Tax Return Information screen automatically displays any 2006 TaxCut files it finds on the system.
However, because TURBOTAX ISN'T DESIGNED TO TRANSFER TAXCUT FILES INTO THE W-2/1099 REPORTER (my capitalization), this message appears when you attempt to do so. The best way to resolve your concern is to manually enter your information through TurboTax.
If you want to transfer your tax data file from H&R Block's "TaxCut" tax preparation program, you'll notice that this option is not available or dimmed in the TurboTax program.
This is a known program limitation in TurboTax.
We apologize for the inconvenience."
So much for the promised feature. - 2008-03-23, 3 of 4 people found this review helpful, Rated:
- Expat users beware online edition!
- The online version of this product generates errors with a high audit probability for expatriate users. First, it asks you to enter numbers in response to what are actually complex tax questions that it does not guide you through. Example: enter the amount of your itemized deductions that were attributable to your foreign earned income. Do you know which itemized deductions must be allocated to FEI (reducing the exclusion) and which can be fully reported -- without asking TurboTax? You'd better know because TurboTax won't give you the answer. Even if you know the answer, TurboTax can produce misleading cumulative statements of 'unreimbursed employee expenses' to file with your return. Second, TurboTax imported a $7000 loss from a prior return without any explanation. It might be a Net Operating Loss that I'm entitled to carry over and that I'm going to lose if I don't report it. It might be a bug or an error. No way to tell which it is with the tax information available through TurboTax online so I have to independently research the issue. The Premier edition is for users with particular income reporting needs and it should automatically generate, or at least give us access to an explanation of the numbers it generates in those specialized data fields. The online version of this product does not. Third, TurboTax online Premier never gave me the opportunity to identify my foreign accounts and automatically reported I didn't have any. Fourth, I could not get the database to register corrected information and update. I had to delete the offending datafile and re-enter from scratch. Fifth, even if you know the particular form you need to file and correct there is no way to get at it. Bottom line: if I didn't have independent knowledge of tax rules and reporting I would have taken this product at it's word and filed a completely erroneous document. Some of the errors on my return would have generated increased tax owed or an audit. Be extremely cautious of the online edition of this product (and watch out for these issues in other versions)!
- 2008-03-12, 2 of 3 people found this review helpful, Rated:
