Blogger Harry Sit has reviewed the 3 most popular tax software packages, employing a simple test to gauge accuracy of calculations of self employed health insurance deduction and premium tax credit. His review confirms what our contributors have collectively determined:
- TaxAct: Works; closely replicates IRS example, with slight discrepancy due to rounding.
- TurboTax: Works; closely replicates IRS example, with slight discrepancy due to rounding. However, taxpayers who also need to prepare a Schedule C will need to purchase the highest price, “Home & Business Edition”.
- H&R Block: Total fail. Users are advised that the software package does not include necessary features to prepare tax returns for self employed taxpayers who have purchased insurance via an exchange.
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