With simplified pricing and an improved interface, 1040.com emerged as a contender within the “center” pricing a part of the tax software program world.
Sadly, the dearth of extras and lack of ability to import types made us query whether or not it brings important worth to the desk.
Must you use 1040.com to file your taxes this yr?
Sadly, the crowded tax software program market implies that first rate software program providers like 1040.com actually don’t stand an opportunity. It’s not as simple to make use of for complicated filers. It’s not as low-cost as different providers. And on the finish of the day, it doesn’t provide any nice benefits.
Right here’s what it’s worthwhile to know concerning the 1040.com tax software program this yr, and ensure you try the way it compares to the very best tax software program packages.
Improved navigation, however just for simple tax returnsNot beneficial for rental property house owners or self employedFlat price pricing for 2020
1040.com Flat Fee Value
In contrast to most different software program providers, 1040.com doesn’t declare to be free. It prices $25 for any submitting scenario. The $25 value consists of each state and Federal submitting. This places the software program in a strong middle-of-the street pricing for tax software program.
It’s value noting that in testing, we discovered that some filers really might qualify without cost submitting. In case you have W-2 revenue, earn lower than $100,000 and would not have dependents, you’d qualify for “Free Fundamental” submitting. This can be an error that can be corrected afterward within the tax season, since 1040.com is just not promoting “free submitting” for any circumstances.
In earlier years, 1040.com has primarily functioned as DIY software program instrument. This yr, it has beefed up it’s navigation assist. The interface guides customers via easy questions to make sure that filers are hitting the best elements of the software program.
Nonetheless, the 1040.com doesn’t have simply accessible provisions for landlords. When you can add a Schedule E type your self, the trouble isn’t value determining.
Whereas 1040.com continues to be a bit extra cumbersome than TaxSlayer, H&R Block or TurboTax, it’s a strong interface. The submitting expertise is one step above the naked bones expertise you’ll get from FreeTaxUSA or comparable cut price software program providers.
1040.com Ease Of Use
1040.com receives center of the street marks for its ease of use. On the damaging facet, you received’t get to import any paperwork. Since even free providers like Credit score Karma Tax are permitting photograph imports, this can be a downside to 1040.com. It’s a deal killer in the event you’re an lively dealer who desires to hook up with a brokerage account.
However, most of 1040.com’s built-in calculators are extraordinarily simple to grasp. When paired with a uniquely well-written library of assist articles, and dwell chat tech assist, this can be a good instrument.
1040.com Data Articles
1040.com has labored actually onerous to make taxes simpler for the layperson. I like to recommend the providers free printables for anybody getting began on the taxes. The articles inside the software program are a superb mixture of “what does this imply?” and how-to fill out your tax types. The software program additionally has heaps of top quality explainers built-in all through the software program.
The one hole that I discovered was that 1040.com doesn’t have articles on digital currencies equivalent to Bitcoin. Given how prevalent that is for tax filers, and the brand new added complexities round it, that is stunning.
The software program doesn’t have quite a lot of extras. Tech assist is included, however customers don’t get audit assist or free tax assist from a professional. Nonetheless, 1040.com is a “mission” oriented firm that commits a portion of income to funding clear water initiatives around the globe.
1040.com does have two upsells (which the do not name upsells), that are:
Pay together with your tax refund for $24.95Audit safety for $29.95
Can 1040.com Assist Me With My Crypto Investments?
1040.com doesn’t provide particular steering that can assist you file crypto investments in 2020. Nonetheless, it has all of the types wanted for individuals who traded or mined crypto investments in 2020.
Who Ought to Use 1040.com to File Taxes in 2020?
In 2020, 1040.com confirmed some main enhancements. The simplified pricing, wonderful data library and the improved navigation gave a optimistic impression.
Nonetheless, 1040.com fell a bit wanting being considered one of our high suggestions. FreeTaxUSA presents the same high quality of software program for a lower cost. TaxSlayer prices a bit extra, however has extra alternatives for fairly priced upgrades (equivalent to recommendation from a tax professional and audit safety). And in the event you’re an lively dealer, you’ll most likely wish to pay for a service like TurboTax that may hook up with your brokerage and calculate your tax burden for you.