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*Turbo Tax 2018 - 2018* Online Tax Preparation Software
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TurboTax 2018 Release Date
We are all waiting for the TurboTax 2018 tax preparation softwareís release date from Intuit so we can get a head start on our 2018 taxes early! I know itís hard to think about next yearís taxes right now but software development works strides ahead of release dates.
Luckily for you, when the next TurboTax is released we fully expect that it will be free to download similar to how it was in previous years. Here we will cover information as to previous year releases, what the software updates may be, reviews of the potential features, and your options for online tax returns or software tax returns.
You might not think of something like TurboTax as a civic venture, but that product took a confusing interface to a government process and made it simpler and easier to use for citizens. Ė Jennifer Pahlka
When Is The TurboTax 2018 Release Date?
Intuit has not thus far given information on their newest version of the popular software to prepare taxes. However, we can use previous years to obtain a good idea of when the TurboTax 2018 release date will be. To answer this question I went to Amazon and looked up the past 6 TurboTax versions and their release dates. Awesomely, they all fell within 1 week for the last several years.
The next step was to see if the dates they were released, although slightly different each year, were on the same day of the week or if there was some trend in the dates. As you can see below, the releases tended to be either Thursday or Friday around mid November. Therefore, I would expect the TurboTax 2018 release date to be November 11, 2018.
TurboTax 2018 release date: November 10, 2018
TurboTax 2014 release date: November 14, 2014
TurboTax 2013 release date: November 15, 2013
TurboTax 2012 release date: November 15, 2012
TurboTax 2011 release date: November 10, 2011
TurboTax 2010 release date: November 24, 2010
What do you think, do you think it will be released earlier or later than that? Are we overestimating or underestimating the date? Let us know your thoughts in the comments below.
How To Download TurboTax 2018 For Free
Of course TurboTax 2018 is not currently out but we can again infer from previous versions, in this case 2018 to see how things will likely work in the newest version. TurboTax does have a free version of their 2018 tax refund software, however itís a bit limited compared to other versions so youíll have to decide whether it is something you can use.
To download TurboTax 2018 for free you can simply follow the steps below. However, they may change slightly in 2018. First if you go to the Turbotax free edition page youíll notice a screen that looks similar to the screenshot below.
Go ahead and click on the ďStart for FreeĒ button and youíll be asked a few more questions. You can let TurboTax know how you did your taxes last year so they know if they need to pull in your tax information from the previous year from another source. You can choose that you used TurboTax last year, used a different software program, used a CPA, went to a tax service like H&R Block, if itís your first time doing taxes, or other. Once youíre done, choose continue to move to the next step. If you prefer not to answer this or just want to sign up for an account you can click skip this step at the bottom.
The next step is to create an account if you donít already have one. To create a new TurboTax account you will need an email address, a chosen user ID, your phone number, and a password. You donít need to have a phone number but it helps. If you already have an account just sign in using your email address and password from your previous years taxes.
Limitations to TurboTax 2018 Free Version
Even though the free version of TurboTax 2018 is nice, there are definitely limitations to that version that may make you want to pay the $34.99 for the deluxe version. Below is a screenshot from the comparison of different TurboTax options. Keep in mind that Intuit does not offer a free version of their CD or download version. You can only access the free version if you work online on the Intuit website.
Here are a few features that you will get with the free TurboTax version:
You can file 1040EZ, 1040A, Schedule B, or Schedule EIC tax
returns but not much else. Youíre pretty limited and this
option will only work if you donít have a complicated tax
- 1040A: United Stated individual income tax return
- 1040EZ: Income tax return for only single or joint filers that do not have any dependents
- Schedule B: This is your interest or dividend income
- Schedule EIC: If you have any earned income credit it will be filed here.
- You can print or electronically file your tax return.
- You can import your W-2 tax forms from other sites so that you donít have to manually enter in the information from your W2.
Another cool feature of the 2018 TurboTax is that you can take a photo of your W2 and it will bring in your information from the photo to your tax form so you wonít need to enter in all the information manually. Pretty neat, right!
TurboTax 2018 Reviews On Feature Rumors
Now for the juicier part, where we cover the features that could be coming out in TurboTax 2018 and how those will affect your tax filing for the coming year. Since itís very early on we will continue to work on updating this as new features come out and as the next generation of the software becomes more defined.
TurboTax 2018 App
Youíll notice that in 2018 the TurboTax app will take off and become much more widely used and popular. Their app is relatively new and hasnít yet seen widespread adoption but with a bit more work on ironing out the bugs and more marketing it will become a regularly used feature. We will likely see more and more integration of their app into the tax return process going into the future. As with a lot of other companies, Intuit has invested heavily into their new app and they believe it will differentiate themselves from competitors such as TaxAct, TaxSlayer, H&R Block, and private CPAs and accountants.
With the new app you will be able to get live help with just a few clicks of the screen. This will allow easy and continual help during the process of doing your 2018 taxes. On top of that you will be able to use your smartphone, either iPhone or some Android device, to take a photo of your W-2 and TurboTax will automatically upload your information into the software so you wonít have to type it. The main purpose and goal of the app is to make doing your taxes easy and quick. If Intuit can find a way for you to work on your taxes 15 or 30 minutes here and there while commuting or waiting for an appointment they will gain significant market share.
Youíll also see better encryption in the 2018 and subsequently the 2018 version of TurboTax. You have your personal password, which should be more than 8 characters and include numbers and capital letters. On top of that, TurboTax will include secure encryption.
TurboTax 2018 Bonus Features
Youíll notice that the 2018 version includes information on filing with the Affordable Care Act (Obama care) for free. This feature allows you to tell the government how and if you were insured during the entirety of 2018 otherwise you will owe an extra penalty because you werenít insured. This feature in 2018 will include more exceptions as itís fairly basic in 2018. This feature could be huge as you would get hit with a penalty if the government doesnít think you followed the laws on required insurance. If you donít follow the law it will result in likely hundreds of dollars owed to the IRS at the end of the year.
One of the best features of TurboTax is their refund finder and benefit assist. Their refund finder checks hundreds of additional tax deductions that can allow you to owe less in taxes or perhaps get more refund back in taxes. With the new benefit assist the software will determine if you qualify for food stamps, Medicaid, or even if you can get discounted gas or electricity. This is a great opportunity to save money and really the key reason why you would use TurboTax over other options. They are the best, apart from hired professional CPAs, at getting the maximum refund in my opinion. All of this, with the ability to save lots of money by not paying for a CPA or another person to do your taxes.
In 2018 taxes will be easier with the new TurboTax software and all of the new features that are coming out. Let us know if you hear of any new features or any news on the release date so we can update this post and get the best information to you. If you liked this post please also share it on Facebook and Twitter so your friends can read about the new upcoming TurboTax 2018!