[Bill14564]

Originally Posted by CoachKandSportsguy

I do 1 LLC return, 1 estate return and 2 regular returns every year. ..
Using turbo tax, its pretty straight forward, the improvements made in the last 10 years have been extremely helpful.

K1s are the worst, as most times, they will not impact your tax return from publicly traded partnerships. From estates etc, they may appear strange and weird. . .

I was ready to file, and realized that I forget capital gains from a Fidelity schedule. So I had to chat with the turbo tax peeps to figure out how to reopen the file to continue entering in data. Didn't do it correctly the first time, but the second time, it worked. It didn't change any numbers due to tax loss carry forwards, but the process is very detailed and requires some level of numerical organization as well. I love the large standard deduction, as we don't have enough for itemized entry any more.

But, if you are not a finance nor accountant type, and are unfamiliar with accounting concepts, or have certain types of financial transactions, then tax returns may be extremely difficult as there are lots of little pieces which need to be identified, added/summed together, and then entered. I personally hate doing it anymore, as it's just a waste of several days of adding and subtracting, and data entry, rinse the excel data and repeat the next deductible account. . . of course the banking statements don't help when they just say check number 4567 is $7,000 and I am supposed to remember to whom I asked bank bill pay to send a check back, 1 year ago? tedious
process.

hopefully, everyone got theirs filed on time. . . and we can all return in about a year to whine and complain again!

Our return is simpler but we do have a K1 to deal with. Biggest problem we have is having to file an extension due to late delivery of that K1.

I use H&R Block Tax Cut software. It seems easy enough to use and complete enough for my needs. This software allows me to go back to any section to add or change information. For example, I estimated the K1 info in order to get an idea how much I should pay along with the extension filing. Later when the actual K1 comes in I'll be able to open that section to fill it out properly and file.

The only thing I dislike about the H&R Block software are the fees to file an extension and to file State returns (when that mattered). This year I used the IRS Free File for the extension form to avoid the H&R Block fee.