Turbotax and 8891

[nelsona]

Entering carryforward is pretty simple in taxact. I wouldn't pay $75 just to bring it forwrd in turbotax. its a 5 line process, doen simply by reading your return from last year. Turbotax oversells their transfer feature because they are losing customers.


Do it once in taxact and its done.

I've used HRB, Ttax (both online and download) and now taxact online. No problems with taxact.

[MGeorge]

Hi Frankd1,

I switched to TaxACT this year. I used Turbotax deluxe for the 2011 return, and I switched to taxACT for 2 reasons:
1. Turbotax wouldn't let me efile with an NRA wife because it insisted on a SSN or ITIN for her. TaxACT let me by clicking a box stating my spouse is NRA, and I file married filing separately.
2. TaxACT supports form 8621 - turbotax didn't in 2011.

I wasn't able to import anything from the previous years return. I had to enter it myself. I didn't try the pdf import feature. I will use taxACT next year, and I'm sure I can import from this year's return.

The only thing I don't like about taxACT is that it doesn't generate a foreign tax credit carry over statement. You can manually enter line by line the carryforward from previous years, it adds them up - but not in the pretty table form that turbotax generates.
Still - it was only $12 and it serves me well.

Cheers!

[InSearchOf...]

In TT Step-by-Step, Federal Taxes tab, select Wages & Income, Retirement Plans and Social Security. Last line Canadian Registered Pension Income.

[eortlund]

Turns out I could never find the form by searching for it on Turbotax. But when I went to print out my taxes, there were two 8891s. Everything from last year was on it except our election year and the amount of the RRSPs at the end of the year.

[eortlund]

Yes, I found it under retirement and pension plans eventually, if I recall correctly. It just wasn't searchable on the forms list as it used to be.