Tax software - TurboTax

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bevkel

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Jan 9, 2005
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For small time cattle folk:

Does anyone here know if TurboTax will handle the farm aspect of tax preparation? If so, should I get the super duper version?

Currently I only have 4 cows, 1 heifer and 2 baby calves. I expect to maintain a minimum of 5 head on the property at any time.

I haven't filed 2002 or 2003 - no income, just lots of outgo: Pasture renewal and fencing. I've also developed a couple of acres for flower production. Am I screwed?
 
I am small time also with around 10 head and have used Turbo Tax Deluxe for the past 4 years to do my tax returns. It handles everything I need from equipment, supplies, depreciation, etc. I have had no problems with audits or rejection of returns from IRS.
 
I always use Turbo Tax basic. It has all you need such as Sche C, and sections for Farms etc.. The other 1040 version offer more in the way of tutorials and help files but if you have ever done taxes before, the Basic should be enough.
If you have a Trust, partnership or Corp, then you will need the TT for Business.

Andrew
 
I have been using Turbo Tax for the last three years. I don't buy the CD's, but I go to Turbo Tax.com and they have the same version on line. You can stop at any point that you want, and go back the next day. You can go to where you left off for as long as you want. I am pleased with how it works. It does give a lot of hints to help, and it also lets you see a bit more than if you let someone else fill it out for you. I find the instructions very easy to follow. I do fill out a long form too that includes the farm. I will definitely use it again this year. Chuckie
 
I used Turbo Tax for several years it was ok. Friend recommended Tax Cut which I used last and am using this year. It is easier to navigate and depreciation functions are easier.
 

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