A new year brings us ever closer to the dreaded tax filing deadline. A visible change this year is that QuickTax has been renamed TurboTax in Canada. This aligns the names between the Canadian and U.S. products. However, there seems to be little change other than the name.
I’ve used QuickTax for years and familiarity has kept me coming back. Once again this year the comparison chart designed to help customers decide which of the 5 versions they need makes it seem like investors need at least the third level product (“Premier”, $69.99+tax this year). However, I’ve always used the second level (“Standard”, $39.99+tax this year).
According to the comparison chart, I’d be missing out on extra guidance for investments in stocks, bonds, mutual funds, employee stock plans, rental properties, and calculation of capital gains and losses. From experience in past years I can say that it’s been possible to declare investment gains and losses without this extra guidance.