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Email this6:03 pm
November 21, 2015
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I am using turbotax since 2004. I always buy the Standard version, as it carries forward all info from previous returns. I ran a business, had stocks, mutual funds, rental property. All done on Standard version, which has all the schedules and forms and help files. Plus one can always peak at CRA's info, how to fill out something. The forms in the Standard version do NOT let you make a mistake anyway.
6:29 am
October 5, 2017
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I have been using Studiotax for years but last year they started charging $15 for up to 20 returns (I need only 2 returns). Mostly because the process to buy a licience was so cryptic.
I tried the TurboTax free online version but its hides forms like pension splitting and tries to make you pay for an upgrade.
So I decided to buy the TurboTax CD version. It was still a very frustrating experience mostly because it was all new to me and I hated the question input method. The most frustrating part was navigating thru different sections and the fact that Turbotax wanted me to pay for a premium version multiple times during the entry process.
This year I went back to Studiotax , and yes the presentation needs alot of work !
The thing is if you got all your T slips and receipts and Capital gains/Losses schedule 3) then its really straight forward and logical and follows the CRA tax forms as they were meant to be. Buying a licience was a breeze. And by the way a single licence can be used on up to 2 different computers so you can split the cost with a spouse, child etc.
I think choosing a tax program boils down familiarity and ease of use !
P.S According to StudioTax they are doing a major upgrade to the Tslip interface for next year... lets hope
9:49 pm
March 30, 2022
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I too, used to use Studio Tax, but for the last 2 years I switched to GenuTax which is completely free. The interview process is quite long, but it is thorough and I was surprised that it gave me a deduction that I would not otherwise have known about. It also allows capital gains and losses to be included on your taxes. I would definitely recommend GenuTax Standard. https://www.genutax.ca/
11:00 pm
December 15, 2016
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I also used Studio Tax again this year. What I like about it is that all of your information is stored on your computer and not a third party's.
I also used auto fill, checked manually to make sure that everything had been added in the right places, (including capital gains, I had a few preferred resets that had been redeemed), pressed validate to check for errors, then netfiled.
Took about 45 minutes because I checked everything twice. I'll use Studio Tax again next year, imo, $ 15 is a bargain 
5:11 am
March 30, 2017
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BK said
I too, used to use Studio Tax, but for the last 2 years I switched to GenuTax which is completely free. The interview process is quite long, but it is thorough and I was surprised that it gave me a deduction that I would not otherwise have known about. It also allows capital gains and losses to be included on your taxes. I would definitely recommend GenuTax Standard. https://www.genutax.ca/
I tested GenuTax against Mytaxexpress (my go to). Even tho you input all the info for the T5s, for it to properly include foreign div tax credit, you have to input the number again when it asks you if you paid foreign tax later in the interview.
So while the interview will catch it, I find that highly incompetent that it does not automatically populate whats on the T5 into all the relevant area. I answer "No" initially thinking its referring to "other foreign tax" that has not been inputted yet, and that is not the case.
It seems GenuTax is just a digitized paper return from that perspective. And because of that, the interview is way longer than it should be.
And I am unable to match the tax owed GenuTax vs Mytaxexpress. Again its due to different foreign tax credit allocation (federal vs provincial, one calculates a high federal and lower provincial tax, and vice versa due to the credit).
I can not even tell which one is correct. But Mytaxexpress is slightly lower lol
7:11 am
March 15, 2019
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I'm planning to use Studiotax again this year. It's the "devil I know" so not much of a learning curve. Also, I got a few freebie years before they implemented the $15 fee.
Question: Do all tax softwares still accept Windows 7?
8:34 am
November 6, 2018
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I have used the Mac version of TaxFreeway since 2007 with no issues at all. It is available for Windows @ $9.95 and Mac @ $14.95 and you are allowed to file 20 returns with either format. It offers an interview-style interface and can be tried out for free up to the point of Netfiling. It is not web-based so all of your information is stored on your computer or device. My spouse's return is very straightforward; I am self-employed so I have a slightly more complex return and I have found it works well for us.
8:49 am
November 8, 2018
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COIN said
Question: Do all tax softwares still accept Windows 7?
TurboTax for tax year 2021 runs on Windows 8.1 or Windows 10 (Windows 7 & 8 not supported).
There is no word about Windows 11 support on TurboTax box, but I installed it on Win 11 with no issues and filed taxes for multiple people successfully already, including NetFile.
9:42 am
March 15, 2019
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Alexandre said
TurboTax for tax year 2021 runs on Windows 8.1 or Windows 10 (Windows 7 & 8 not supported).
There is no word about Windows 11 support on TurboTax box, but I installed it on Win 11 with no issues and filed taxes for multiple people successfully already, including NetFile.
Thanks. I do have Windows 10 on my other computer but am still much more familiar, and like, Windows 7.
7:11 am
April 2, 2018
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COIN said
Thanks. I do have Windows 10 on my other computer but am still much more familiar, and like, Windows 7.
What is that you do not like about Win 10?
I HATE those tiles but I use StartIsBack and now Win 10 is more usable.
7:29 am
March 15, 2019
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pooreva said
What is that you do not like about Win 10?
I guess it is simply lack of familiarity. I finally got fully familiar with Windows 7 and, no surprise, Microsoft stops supporting it.
7:35 am
March 30, 2017
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COIN said
I guess it is simply lack of familiarity. I finally got fully familiar with Windows 7 and, no surprise, Microsoft stops supporting it.
windows 10 and windows 11 can still be setup like a regular desktop that looks exactly like windows 7.
Windows 11 only allow task bar on bottom tho.
Should be zero learning time for you switching from 7 to 10 or 11
8:21 am
March 15, 2019
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Question: What are the advantages of Windows 11 and 10 over 7 (other than Microsoft no longer supports 7)?
Apologies if this is getting off track.
11:05 am
January 12, 2019
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COIN said
Question: What are the advantages of Windows 11 and 10 over 7 (other than Microsoft no longer supports 7)?
Apologies if this is getting off track.
You said it right there ⬆ ... Windows 7 has been 'Unsupported' for over 2 years now.
Using an old, unsupported OS while on the internet, is like playing Russian Roulette ... it's Very Risky ❗
For a good suggestion, see Post #32 above.
- Dean
" Live Long, Healthy ... And Prosper! "
5:16 pm
November 8, 2018
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COIN said
Question: What are the advantages of Windows 11 and 10 over 7 (other than Microsoft no longer supports 7)?
For me, it is the fact that I can still use TurboTax to file my taxes.
Also, my household is using OneDrive cloud storage, it is no longer seamlessly supported on Windows 7.
Note that not every desktop, laptop and tablet is upgradeable to Windows 11. If yours came with Windows 7 or older version, chances are it will not.
5:10 pm
April 16, 2020
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Sorry for being a little late to this thread but FWIW :
Used QuickTax/TurboTax from 1997 until 2016 when I switched to StudioTax and have used that ever since. In that 2016 year I completed tax returns using both TT and ST and got the same results to the cent. (Our tax returns are middling-complex (I think !) involving T4, T3/T5/T5008, Foreign Income & FFTC, Sch7/RRSP, Sch9/ChDon as well as T1135, and a couple other wrinkles such as T776/Rental in some years.)
I switched because Intuit(TurboTax) were about 3 years behind Studiotax (and others) in supporting e-filing of the T1135 (in addition to the main T1), and could/would not confirm a target date/year to implement that support. Given the dire warnings about $000s of penalites for not filing T1135, I very much wanted the automatic confirmation of e-filing. I'm sure TT has caught up by now, but they lost me as a customer.
Yes the Studiotax interface is a bit clunky but I guess I am well used to it by now. They do have a "Wizard" mode which is similar to (my memory of) the TurboTax interview style. And IMHO the ST ability to do "batch-mode editting" of T-slips (i.e. seeing all T5 slips at once, instead of scrolling through a list in a window which shows only 2 or 3 at a time) beats the heck out of (my memory of) the TurboTax T-slip handling : if one uses CRA Auto-fill and gets the same T-slip more than once, it's a darn sight easier to figure out which ones are duplicated if you can see them all together.
JM2cW : YMMV
BTW and off-topic : we also had to file UK tax returns a couple of years ago. Used https://abcsa.co.uk/ for that. IMHO, completing the Cdn tax returns is considerably simpler than UK Self-Assessment !! (Note : if this sparks any discussion, maybe should go to a new thread. (:^))
1:37 pm
March 30, 2017
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Just finished a test run on Turbo tax, as friend has an extra installation code he wont need.
Turbo tax definitely beats Studio tax and genutax in terms of interface and ease of use. Studio tax and genutax looks like something from 1990s. Mind you genutax is still free so cant complain really. But I wont pay a penny for studio tax for sure.
Also turbo tax makes me aware there is a potential bug in mytaxexpress, which is my go to tax software. Its related to Form T5013 but most dont have that form anyway, prob why it was not caught at all. I have asked their tech support to take a look and confirm one way or the other (as in dumb user input)
Turbo tax does take every opportunity to ask you to upgrade, which can be somewhat annoying to some.
3:49 pm
March 15, 2019
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"Mind you genutax is still free"
Can Genutax do dividend tax credit, foreign tax credits, capital gains/losses. Form 1135, etc.?
6:14 pm
March 30, 2017
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COIN said
"Mind you genutax is still free"Can Genutax do dividend tax credit, foreign tax credits, capital gains/losses. Form 1135, etc.?
Yes but it’s very cumbersome. For example, for foreign tax credit, it does not populate it automatically based on ur T3, T5 etc. instead You have to input the foreign tax paid a second time during the ‘interview questions’ for it to be applied properly.
It’s certified software so it will calculate the proper tax. It’s a question of whether it’s user friendly or not, or dummy proof so to speak.
I will only recommend genutax if ur tax return is very simple, as in t4 and simple t5 only. OR one better be familiar with the tax code such as credits and what’s not and you want a free software to file.
5:16 am
October 5, 2017
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Beware, CRA does not have all your T5's .
I received Bank interest from Simplii last year and did infact receive a paper T5.
But CRA did not have the Simplii T5 in their system for download.
I checked on Simplii, they have no ability to print T5's and they state that all T5's have been also sent to CRA.
Bottom line, don't assume that if you do the import data from CRA into the tax software it contains all of your T slips.
So who is at fault here, CRA or Simplii ?
Cheers B
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