TurboTax 2024, a product of financial, accounting, and tax preparation software provider Intuit, has been around for nearly 40 years.
For example, when other tax software platforms asked all users the same questions regardless of their tax situation, TurboTax 2024 pioneered the “click here if this applies to you” format. Users could select relevant topics — such as moving, marriage, new job, or selling stock — and skip sections that didn’t apply to their situation.
In 2017, TurboTax 2024 Live was launched, allowing customers to get help from a credentialed tax expert if they got stuck or had a question while preparing their return. And in 2020, the company launched TurboTax 2024 Live Full Service, which lets customers delegate their tax filing to an expert.
Who should use TurboTax 2024?
Whether you’re an experienced tax preparer or you know little about tax law and just know you need to file, TurboTax 2024 makes filing taxes easy by letting you upload your W-2s and 1099s, automatically filling out fields, and guiding you through the process with interview-style questions. It also provides many plain-language definitions and explanations if you’re unsure whether a particular income category or tax deduction applies to you.
If you get stuck, TurboTax 2024 offers live, on-screen help options. You can also give your tax return to a tax professional to complete, although this option comes with an additional fee.
How TurboTax 2024 Works
Preparing your tax return with TurboTax 2024 is a lot like sitting down with a tax preparer. The software walks you through the tax preparation and filing process by asking you a series of simple questions about your situation.
Single taxpayer, no dependents, W-2 income, and student loan interest deduction: 13 minutes
A married couple filing jointly, one dependent, two W-2s, Child Tax Credit, and Child and Dependent Care Credit: 20 minutes
During the process, a banner at the top of the screen keeps a running tally of your estimated federal and state refunds or amounts due.
If you get stuck along the way, you have the option to pay an additional fee and upgrade to TurboTax 2024 Live to get on-demand help from a TurboTax 2024 expert or CPA. When you choose this option, a tax pro will do a final review of your return before you file it.
You can also pay an additional fee to go full service and prepare your tax return for you. Before you file your return, a tax pro will schedule a time to review it with you.
And there’s another aspect of using TurboTax Business 2024 you should be aware of: the nearly constant urge to upgrade your package. During the 13 minutes I spent preparing a simple return, I received at least three offers to upgrade.
During the tax preparation process, you will periodically be prompted on screens to upgrade from Free* to Deluxe, get help from a TurboTax 2024 Live expert, or add TurboTax 2024 MAX – an additional package that includes audit representation, identity theft resources, and priority customer service.
In some cases, these upgrades can be helpful. For example, if you can reduce your tax bill by itemizing deductions, it may make sense to upgrade from the Free version* to Deluxe. And if you legitimately want additional help from a tax expert, you may be happy to pay for TurboTax 2024 Live. Just make sure you need and want the upgrade before you accept the offer.
Some Reasons Why You may want to Upgrade Include:
You have self-employment or rental income, capital gains, and losses, or other income, deductions, or credits that aren’t covered by the free version.
You don’t feel completely comfortable preparing your tax return yourself and want help with TurboTax 2024 Live or a full-service tax expert.
TurboTax 2024 Features
TurboTax 2024 offers several features designed to make tax filing convenient and stress-free, such as:
Tax document imports. If your employer participates, you can automatically import your W-2s into TurboTax 2024 software to save you time, rather than manually entering information. You can also take a picture of your W-2s and other tax documents with your smartphone and import them from the mobile app.
Live assistance. If you get stuck while preparing your return or have a tax-related question, TurboTax 2024 allows you to pay an additional fee to get live assistance from a tax professional. Assistance with state returns costs an additional fee.
TurboTax 2024 Fees and Costs
Turbotax 2024 offers several pricing options, ranging from a free version* for users with straightforward tax returns to expensive packages for people who want to hand their taxes over to a professional.
Those pricing options generally fall into three categories:
TurboTax 2024 Full Service: A tax expert prepares, signs, and files your tax return for you.
TurboTax 2024 Security
TurboTax software 2024 includes several features to protect your information, including:
Multi-factor authentication. After you log in with your username and password, TurboTax 2024 sends a unique, single-use code to your verified device or email address, or it requires you to answer several security questions before you can access your account.
Data encryption. TurboTax 2024 encrypts all the data it stores and uses industry-standard TLS encryption when transmitting your tax return to the IRS or state tax authorities.
Notifications. When you log in to TurboTax 2024, you can see a history of logins and devices used to access your account. You’ll also receive email notifications when any changes are made to your account, such as updating your password, signing in from a new device, or updating your bank account information.
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