Introduction: Turbotex Deluxe 2023 Review

My blog post is Welcome to the TurboTax Deluxe 2023 Review. Hey everyone! With the tax season approaching, I think that most of you are beginning to think about how you are going to file your returns. I have been trying tax software over the years, and I have just completed using the TurboTax Deluxe 2023 Desktop Software (the one offered by Amazon that has a state download).

I also wished to reveal my step-by-step experience in detail so that you can make a decision whether it is the right choice and it is worth spending your money on.

Snap Conclusion: TurboTax Deluxe is a very potent and easy-to-use software that is ideal for homeowners, investors, and those who have more than a simple W-2. Some may find it excessive, but its advice and maximization capabilities can easily be recompensed.

Click Here to Get TurboTax Deluxe 2023 on Amazon

First Impressions & Unboxing—TurboTax Deluxe 2023 Review

The first one is that it is the Amazon Exclusive version. Once you buy, you visit the Amazon Software Library, where you receive your product key, and you can even download the software to your computer. I liked this, as I could install it on my laptop and not lose a CD.

The standard of most paid tax software is the inclusion of a single federal return and a single state e-file in the key.

Who Is TurboTax Deluxe REALLY For?

This is the most significant question. TurboTax has various levels, and the Deluxe is tailored towards those taxpayers who have standard deductions.

It’s ideal for you if you have:

Mortgage (and wish to deduct mortgage interest and property taxes)
Charitable contributions, which you wish to include.
Stocks, bonds, or ETF investment income.
The cost of education (such as interest on student loans)
Medical bills you intend to detail.
IRA or 401(k) retirement income.

As a freelancer or a contractor, or in case you have a small business and have to cover a lot of expenses, you would have to upgrade to the Premier or Self-Employed versions.

A Walk-Through My User Experience

1. The Setup & Data Import:

The setup was a breeze. The user interface is easy-going, and it guides you. The option of data import impressed me greatly. It has enabled me to safely have my W-2 information automatically transferred to me by my employer (and my investment data transferred to me by Fidelity), which has saved me at least 30 minutes of handwriting. This in itself was a massive victory of accuracy and saving of time.

2. Guided Step-by-Step Process:

TurboTax provides guidance in the whole process. It poses you plain, simple English questions, such as, Did you purchase a house this year? Or “Have you done any charity?” It knows, based on your responses, the types of forms you require and the deductions to pursue. It is not filling in a tax form, but more of a chat with a very educated tax preparer.

3. The game-changer is the so-called Deduction Maximizer:

Here, TurboTax Deluxe really justifies the cost. It has an active scanning ability of the tax code for deductions and credits that you may have overlooked. In my situation, it raised a home office deduction I was not quite conscious that I was eligible to claim (since I was working at home part-time), and it also reminded me of including my state sales tax as an itemized deduction. It earned me an additional $412 that I would not have noticed at all on my own.

4. Handling Investments:

I was able to enter my 1099-B with the sale of some stocks. The TurboTax Deluxe automatically transports the data and assists you in recognizing what shares you sold to be optimally treated (e.g., Specific Share Identification). It determines your capital gains and losses accurately, and this may be a nightmare when done manually.

5. State Return Integration:

After I filled in my federal return, the process of filling in my state return was automatic. The software was pre-filled with almost all the information needed on my federal return. My state return captured me in a matter of less than 15 minutes.

6. Final Review & Filing:

TurboTax performs a final check-up on the file to ensure there are no errors or information gaps. It assigns you a score on confidence, which is highly reassuring. E-filing has been immediate, and I have been getting my federal and state recognitions several minutes later.

Click Here to Get TurboTax Deluxe 2023 on Amazon

Pros & Cons—TurboTax Deluxe 2023 Review

👍 Pros:

Very User-Friendly: Ideal for individuals who fear taxation.
Maximizes Deductions: Actively explores ways to save you money.
Superior Data Import: Saves time and minimizes data input mistakes.
It is all in one package: the state filing fee is included in the Amazon version, and no unpleasant surprises at the end.
One-Time Purchase: You have the software and may refer to your return any time, which is not the case with some subscription plans.

👎 Cons:

Increased Price: It is more costly than other competitors or the free file.
Upgrade Potential: The software could offer to upgrade to a higher-priced version in case it identifies some type of income, but I did not find it to be pushy.
Not in Complex Situations: A higher tier will be required in case of rental properties or business.

Final Thoughts: TurboTax Deluxe 2023 Review

Indeed, if your tax circumstances are what they are meant to be.

In my case, being a homeowner who has investments, the software was a minor investment that was many times over. The tranquility of the mind, the time it saved, and the additional deductions that it discovered made it a no-brainer.

In case your taxes are so basic (only one W-2 and no deductions), then a free option may be sufficient. However, in the case of the largest number of American citizens who have acquired a home, student loans, or simply invested a few dollars on the side, TurboTax Deluxe is the standard of gold. It transforms a stressful and complex task into a straightforward and directed task, which helps in getting you the most of your money back.

Click Here to Get TurboTax Deluxe 2023 on Amazon

← Previous Post

Post Views: 73