Title : 2006 TurboTax Premier Federal + State Investments Win/Mac [OLDER VERSION]2006 TurboTax Premier Federal + State Investments Win/Mac [OLDER VERSION]
Description : Turbo Tax Premier 2006 takes you through tax time and helps you get the most out of your tax deductions. It's your guide through mortgage interest, charitable contributions, education, medical expenses, and more. Find out how to qualify for deductions, looks for deduction opportunities, and tracks how much you've saved in deductions and credits. ItsDeductible helps you accurately value items donated to charity. Advanced tools like the Cost Basis Expert, Refinancing and Depreciation Experts show you how to get the maximum number of deductions from any rental property or investments you've owned. Get the money you deserve at tax time, with Turbo Tax Premier 2006. Includes State Edition. Handle capital gains and losses to make the most of your 401(k) plan and determine the original value of sold investments Prior Year Data Import transfers and edits information from last year's TurboTax return, to save users time Refinancing Expert provides tips for refinancing a rental property, ma...
Features :
- Deduction Maximizer Center shows you how to qualify for over 350 deductions, from mortgage interest, to child-care expenses and more
- Accurately value items commonly donated to charity with ItsDeductible, so you don't have to guess at donation values
- Cost Basis Expert helps you determine your basis for your investment trade
- Calculate the basis for each trade, including single and multiple purchase lots, first in first out (FIFO) reporting, average cost reporting and more
- Get extra help for accurate reporting of investment sales -- summarize and categorize your stock, bond and mutual fund sales
taking this product : title="2006 TurboTax Premier Federal + State Investments Win/Mac [OLDER VERSION]"
Category: Tax Preparation
Brand: Intuit
Item Page Detail URL : link
Rating : 3.4
Rating : 5
Review : Schedule K-1 and general instructions.
1. Schedule K-1. Problem: I have a partnership K-1 which was liquidated on 12/31/2005, reported on 2005 tax return. Schedule K-1 was received at the end of 2006 for this property showing residual action of $36 normal income and a distribution of $186 pertinent to the liquidated property sold in 2005. Turbotax is not clear about handling this type of activity when it is not termed as long term capital gain. The worksheet forms seem to be inadequate for this situation. When an override is done to place the $36 on page 1 of the form 1040 electronic filing is not allowed. I sent an email to Turbotax and received an acknowledgment but no suggestions. I used an override and filed my return by mail. The reason I purchased Turbotax Premier TY2006 was because it was advertised as being able to handle Schedule K-1 information.
2. It seems that the explanation of the importance the worksheets and their relationship to the population of the various required forms should be emphasized...
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