TurboTax Deluxe Federal is good work for me

I just downloaded  TurboTax Deluxe , and did my usual preliminary tax computation for 2011. (I'm using Windows 7, on a pretty fast computer, with all Windows updates current.)

I had no problems with the program. It installed with no problems, checked for updates (none), found various copies of my 2010 tax file, allowed me to select one of them. I quickly reviewed the imported 2010 info, and it all looked correct.

I don't use the "import from Quicken" feature, because I find that it sometimes causes problems. Instead, I create reports in Q that I export in TXF format, which I can then import into  TurboTax Deluxe . This worked fine. I couldn't download my brokerage & mutual fund information yet, obviously, since that will not be available until late Jan or early Feb. Same with the W2 info. Instead I entered some info based on my records, just to go through the preliminary calculation. Everything worked as expected. BUT note that some forms (e.g., Sch D) aren't finalized yet, are waiting for the IRS.

One note: Intuit pushes the more expensive Premier version for those with investment income, but you don't need it unless your situation is rather complex. If all you have is mutual funds and some brokerage stock/bond transactions, you're likely to be fine with Deluxe. (If you have option trading, you'll have to look into the details, Deluxe might still be fine.) 
NOTE: Thought it might be helpful to briefly report here what  TurboTax Deluxe  says about why they recommend Premier; they help if the following apply to you: Unsure of your capital gains? Don't know your cost basis? Confused by ESPP sales?

Also note that in the past I've used H&R Block (aka TaxCut), and have found it to be about as good as TT. If I were paying money, I'd get the one that's cheaper. (I get  TurboTax Deluxe  discounts from my fund company, hence it's cheaper for me.)

I'll update this review in Feb after I've done more with the program. (See below.)

Quick note on hidden privacy option: 
Just noticed that Intuit hid a privacy option nice and deep. Go into Help-About, and select the Privacy tab. You'll see a box to permit sharing metrics about your usage. Seems perfectly reasonable and harmless, but it annoys me that they felt it was ok to hide it like that. So guess what, I unchecked it. You can decide for yourself, I don't think it's a big deal either way.

1/12/12 Update:

Since my review above I've been able to download the state program, and it did fine with my preliminary information. Full test will wait until I have all my data.

I ran into a problem with W-2 imports: the program won't let me enter cents in the box 1 & box 5 fields, just whole dollars, but then the import fails saying data mismatch. Interesting. I spent about 40 minutes in a chat session with someone in tech support, who was unable to provide any useful information at all. (Began with the usual "it works on my machine". I used to say "ok, then ship me your machine".) Intuit brags about the excellent US-based tech support, but I was unimpressed.

2/17/12 Update:

There have been many bug fix updates over the last few weeks (at least 5, maybe more), which is good in the sense that they're delivering fixes quickly as they have them. (No one's found a way to create bug-free software yet, of course!) I've not run into any problems lately, and the W-2 problem I mentioned above was also fixed (I can't fully test it, not having multiple paychecks).

One good thing to report: my state tax return (MA) took very little time to do and review: the initial data entry captures just about all the useful information that transfers neatly to the state return, and all I had to was to go through the yes/no stuff and then review the return.

One area  TurboTax Deluxe  could improve: the entry of capital gain transactions is unnecessarily tedious, requiring that you go through several screens for each transaction. This became particularly annoying when I had to go through them to correct a set of errors I found in my data (incorrect records). It would be so much easier to have an option to enter the transactions on a table. (No, the "quick entry" spreadsheet doesn't do it for me, it's an ugly user interface in my opinion, makes it too easy to make errors.)

On another note: I used  TurboTax Deluxe  to do some what-if calculations related to getting a Schedule K-1 from an S-corp (with "material participation"), and found it quite useful. When you get to this kind of thing the program doesn't really help you much, you have to know the tax laws and rules (or learn quickly!) in order to do the right things. But at least I was able to have the program do the calcs for me, which saved me a ton of time.

TurboTax Deluxe Federal + E-file + State 2011

Everything you need to do your taxes with ease.

TurboTax Deluxe + Federal + State includes all of the great features of TurboTax Deluxe plus a download of one TurboTax State Product.

Finds All Tax Deductions and Credits You Deserve to Get Your Biggest Refund Maximizes Your Tax Deductions  Asks simple questions about your income, family situation and changes in your tax situation and credits. Then, based on your answers, searches for more than 350 deductions and credits to get you the biggest tax refund—guaranteed. Looks for Deduction Opportunities as You Go Shows you which deductions you’ve taken. Which deductions you haven’t. And tells you how to qualify for just about any deduction, so you don’t miss any opportunities to save. Gets You the Maximum Deduction for DonationsItsDeductible (included) helps you accurately value items you donate to charity–no more guessing. Plus, it tracks other donations such as cash, mileage and stocks, to help you get every charitable deduction you’re entitled to.	Feel Confident Your Taxes Are Done Right Now Free! Only TurboTax software offers one-on-one expert tax advice free for everyone, live by phone and chat. Learn More
Handles Your Life Changes Changed jobs? Got married? Bought a home? Had a baby? TurboTax guides you through common life changes, explains how the changes will impact your taxes, and tells you what you can deduct. Helps with Medical Expenses Does all the math and tells you if you qualify to deduct your medical expenses for maximum tax savings. Helps You Reduce Audit Risk Tracks Your Audit RiskAudit Risk MeterTM checks your tax return for common audit triggers. Shows whether your risk is high or low. And provides tips to help you reduce your chance of an audit. Includes Downloadable Audit Support Center Gives you step-by-step guidance on everything you need to know and do if the IRS contacts you. Also Available: Audit Defense Provides full-service representation by a trained tax professional. You will never have to meet with the IRS, unless you want to.3 Does the Hard Work for You Asks Easy Questions, Tailored to You Guides you step by step through your tax return and puts your answers on the right tax forms for you. Skips interview questions that don’t apply to you, so you can finish your return faster.	Why TurboTax Deluxe is the easiest choice for you … TurboTax Deluxe was designed to make it easy for you to get the biggest tax refund possible. Choose TurboTax Deluxe if any of the following apply to you: You own your home You donated to charity You have significant education or medical expenses You have childcare expenses You have lots of deductions If you own investments or rental property, chooseTurboTax Premier. It has everything in Deluxe PLUS will provide extra guidance so you get the most from your investments. If you are a sole proprietor, consultant, 1099 contractor, or single-owner LLC, TurboTax Home & Business has everything in Premier and will help you make the most of your business and personal deductions. If you own an S Corp, partnership, C Corp, or multiple-owner LLC, choose TurboTax Business.
Automatically Fills in W-2 and 1099 Info Gets your W-2 and 1099 data directly from over 100,000 participating employers and financial institutions and automatically puts it in the right tax forms. A brief summary lets you review and edit downloaded information if necessary. Transfers Last Year’s Tax Info No retyping necessary. Fills in information from your previous year’s return to save time and increase accuracy. Shows you what you’re importing and where it goes in your return. You can also import from other tax software including TaxACT and H&R Block’s TaxCut. *New* Imports a PDF of Last Year's Tax Return Easily imports prior year tax data/documents from TurboTax, other tax software brands4 and tax stores.5 Imports Your Financial Data Imports information from your financial software (including Quicken®, QuickBooks® 2007 and higher4, and Microsoft® Money) so you can skip the cut and paste this year. Makes it Easy to Hold Your Place Flag areas in your tax return so you can get back to them easily.	TurboTax guides you through your taxes like a GPS, with extra help for first time users.
Provides Help and Advice When You Need It Live Tax Answers Now Available! Get FREE one-on-one expert tax advice, live by phone or chat. Plus, you'll have instant access to answers to commonly asked tax questions on every screen. Straightforward Guidance & Advice Find help on any tax topic from anywhere within TurboTax. Get plain-English explanations of specific tax areas and helpful examples when you need them. Guide Me Not sure how to answer a tax question? We’ll guide you to the right answer, making your taxes even easier. Explains Your Return Shows you a summary of your return, including income, tax, credits and payments so you know your taxes are accurate. Provides recommendations to help you get an even bigger refund next year. FREE Technical Support — Got a software question? No problem! Get answers from a TurboTax expert via phone or live chat.	Start your return and efile with Turbotax today. Intuit will submit your return when the IRS starts  accepting them on January 14, 2012. The IRS will email you a confirmation within 48 hours.

Spots Errors and Shows How to Fix Them Smart Check™ Scans for Mistakes Smart Check double-checks your return for errors, so you can be confident your taxes are done right. Guaranteed Accurate Calculations If you should get hit with an IRS or state penalty or interest due to a TurboTax calculation error, we’ll pay you the penalty and interest. Keeps You Up-to-Date with the Latest Tax Laws With a single click you can check for updates each time you start to ensure your return includes the latest IRS and state tax forms. No more disruptions while you work on your return. Get Your Refund Faster with Included Federal Efile Shows Your Tax Refund in Real Time Watch your refund add up as you complete your return. Our Dual Refund Monitor constantly displays and updates both your federal and state refunds (or taxes due) as you complete your federal return. Federal Efile Included Get your refund in as few as 8 days with efile and direct deposit. Free federal efile is included with TurboTax at no extra charge. If you’re a returning user, we’ll automatically transfer your efile information from your previous year’s return to save you even more time. New Options to Get Your Refund Fast Direct deposit your tax refund on a TurboTax Refund Card, a reloadable Visa prepaid card that can be used everywhere Visa debit is accepted. Or put your refund on a prepaid card you already have.

Why Make the Switch? TurboTax is easy and it could save you money. Leading Tax Store TurboTax Asks you questions and fills in the right tax forms Gets you every deduction and credit you deserve Tips and advice tailored to your unique tax situation Support in case of an audit (fees may apply) Handles tax impact of changes in your life Years of expertise to help answer your questions Up-to-date with all the latest tax laws Federal efile included at no extra charge Prepare and file your taxes anytime, 24/7 Do your taxes yourself, without leaving home Save on average $100 or more over the leading tax store by choosing TurboTax.6

Which TurboTax is Right for You? Click to enlarge.

1. Cost includes tax preparation and printing of unlimited federal tax returns and free federal efile of up to 5 federal tax returns. Additional fees apply for efiling state returns ($19.95). State e-file is an additional fee. E-file fees do not apply to New York state returns. All prices are subject to change without notice. 2. TurboTax CD and Download users must have Internet access to interact with the Live Community. 3. Service provided by TaxResources, Inc.; additional fees apply. 4. Windows Only. 5. Documents must be imported in electronic (PDF) format. 6.Based on 2009 reported company and survey data for personal returns. Actual savings vary based on tax situation. 7. Live tax advice service is free and available by phone or chat through 4/30/12 for questions on 2011 U.S. Federal and State tax returns (restrictions apply). Service, experience levels, hours of operation, and availability vary and are subject to change without notice.