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Subject Author Date
TruboTax - online vs installed CD P.Schuman 12-10-2007
Posted by Ken Blake on December 10, 2007, 6:22 pm
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> Ken Blake wrote:
> Contrary to what some people think, doing
> > so has no effect on the performance of your computer.
>
> Two points -
> 1) I've said in years past NEVER to allow TT to import Quicken data unless
> your ABSOLUTELY double check the results inside TT once you've done this.
> If there's a mistake, the IRS could care less how the 1040 was prepared, so
> you need to ensure accuracy!


I agree completely. Did I suggest otherwise?


> 2) Ken - you say " Contrary to what some people think, doing so has no
> effect on the performance of your computer.". I do beg to differ.


You are certainly welcome to differ all you like. Nevertheless, I'll
stand by what I said.


> The more
> 'stuff' you have on your harddrive, the 'harder' it is for Windows to locate
> free space, or even to find files that are multi-fragmented (becuz it can't
> locate freespace easier and has to chain file segments together) and the
> like.


Any such effect is easily obviated by defragging the drive.



> It DOES have a noticeable effect on your computer performance. Now
> granted, I speak from the old FAT16/32 days, maybe with the NTFS file system
> this isn't true anymore, but I'd like a definitive statement from someone
> who knows. But I doubt it.


Fragmentation is much less of an issue with NTFS than it was with FAT.


> And so saying that, I do agree that one should keep multiple years of TT
> around - I just had to file a 1040X with last year's version that I still
> had after installing t/y 2007 which kept t/y 2006 around.
>
> Peace.
> --
> -------------------------------------------------------------
> Regards -
>
> - Andrew
>

--
Ken Blake
Please Reply to the Newsgroup

Posted by Oilcan on December 14, 2007, 9:57 am
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 Jim,

I had a similar problem with 2005. I had a lot of unusual investment sales
during the year that were not straight entry off of tax documents onto
Schedule D - plus a couple of minor reporting mistakes that had zero impact
on my taxes. I reinstalled the software and redid my taxes and sent it off
to the IRS. An $11000 request turned into a $5 refund although it took me
10 hours to gather everything they needed, write the response and modify a
return.

Oilcan
> Oilcan wrote:
>> I don't use TT but I do use a competing product. I uninstall the prior
>> years version when I archive my final tax return in PDF format.
>>
>> I would say the more complicated your tax return is the more likely you
>> might want the CD. Truthfully though - like you - I rarely use it beyond
>> the current tax period.
>
> Last year, I got a notice from the IRS of a letter audit. They wanted
> $13,000 in taxes and penalties. After I caught my breath, I looked through
> my return, and their audit info, and found that I had a few small errors
> introduced by my Quicken import. I also found that they had some really
> big errors.
>
> I corrected my errors, and recalculated my tax. I sent them a response
> with explanations, including cut and paste from TT. I also sent them a
> check for my newly calculated payment, which was far less than what they
> had requested. They responded with a bill for the interest and penalty
> which I expected, but it was just a few dollars.
>
> Having the prior year installed made the entire thing a snap. I'd keep TT
> installed for the three years that are subject to an audit. It doesn't
> take much space, and disk drives are really cheap.
>
> Jim
>


Posted by MrTom on December 10, 2007, 5:02 pm
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P.Schuman wrote:
> have used Turbotax Basic for years...
> just noticed and clicked on a TT ad for their online version.
>
> wondering on the choice of using a SAAS (software as a service)
> vs installing as a local application ?
>
> just looked, and I have several years of TT software installed,
> but don't recall ever really going back to "use" the software to tweak,
> vs just looking thru the paper or PDF file of the generated reports.
>
>
Others have commented on why you would want to keep previous years of
your tax software installed. I agree-keep them installed.

As for your other question--SAAS (i.e. web-based application) vs. local
application--I would never use the SAAS version. I don't like the idea
of sending my financial data over the web to a private company.

Tom

Posted by P.Schuman on December 10, 2007, 5:53 pm
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> P.Schuman wrote:
> > have used Turbotax Basic for years...
> > just noticed and clicked on a TT ad for their online version.
> >
> > wondering on the choice of using a SAAS (software as a service)
> > vs installing as a local application ?
> >
> > just looked, and I have several years of TT software installed,
> > but don't recall ever really going back to "use" the software to tweak,
> > vs just looking thru the paper or PDF file of the generated reports.
> >
> >
> Others have commented on why you would want to keep previous years of
> your tax software installed. I agree-keep them installed.
>
> As for your other question--SAAS (i.e. web-based application) vs. local
> application--I would never use the SAAS version. I don't like the idea
> of sending my financial data over the web to a private company.
>
> Tom

I can see the locally installed benefit,
but wonder how would you - if even possible - go back 3, 4 years with the Web
version ?
Currently, just looked, I have all the TurboTax versions installed + data going
back to 1998.
Had to change the installs from my trusty fast Win98se desktop
to one of our WinXP laptops for the most recent TT versions.... rejected
installing on Win98se.

As far as financial data being shared with an outside service,
I guess that would be a separate issue....



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