In fact, it is impossible for tax software to fill out this form automatically if you deduct state income tax. Completing it correctly often requires doing some work offline with a spreadsheet or calculator and the retail softwares have conditioned people to just follow the bouncing ball. That form is always a bit of a stumble for most software. One thing I have experienced in the past is TurboTax seems to handle Form 1116 better than H&R block.but both were not without snags, for some situations. When I used TT to cross check I found that they use 5 decimal places in the calculation and my basis then went to $0. I do backdoor Traditional IRA>ROTH conversions and ended up with a $3 basis on my 8606 tax form when it should have been $0 because HRB software is only using 3 decimal places in the calculation (the minimum required by the IRS). I've used HRB for many years but not impressed after doing my 2021 return. Any significant differences between TT & H&R Block tax sw? Or any reason to choose one over the other? H&R Block Deluxe + State has served me just fine all these years.īut as the time for me to purchase tax software approaches, I got to wondering. So all pretty typical and I could have done it all by paper, the old way, If I would've been forced to. W-2 income from my job, 401-k acct contributions, interest from bank accts, typical itemized deductions, taxable Vanguard acct, & at some point I cashed some savings bonds. I used Turbo-Tax years ago, but switched to H&R Block at some point because it was cheaper than TT and my tax situation just wasn't all that complex. One Better Than The Other? Or are they the same, just different?
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