Yes, they can be used together. Forms or forms mode to learn and interview to do. When I first started using an HSA I prepared form 8889 by hand to follow the form instructions and see the result on 1040. That year I was using TT to do my taxes. The HSA interview back then was very confusing and despite my answering the questions the way I thought I should, the deduction did not appear on the 1040 as I expected. I had to change my testimony to get the correct result on the 1040.I agree with the idea, but I think doing both is good. The interview method can help catch things that you may not have thought of. However, I agree that it is important to know what all those moving parts are and how they interact. I use a CPA to prepare my tax returns as they are a bit on the complex side (will get simpler I hope). However, I still go through the return they prepare and check it it all over. In addition my Excel spreadsheet calculates an estimate of my taxes AND this year I used FreeTaxUSA as a third option. I then reconcile the three results until I am satisfied that I either understand where I went wrong, or I call my CPA so they can correct their mistake.Easier doesn't mean better. Lots of people use tax software, and have no idea how any of it works - they just answer the interview questions, plug numbers in, and see the final outcome. In my view, it is much better to learn how to use the forms. YMMV.I disagree with this. Turbotax is way easier for a newbie.Unless there is something complicated about your situation, I recommend using FreeFileFillableForms, which will force you to learn where all the information goes and how your tax liability is determined. Plus, it is free.
Statistics: Posted by jebmke — Tue Apr 23, 2024 5:46 pm — Replies 40 — Views 1736