Even though 2022 is coming to a close, it’s almost beginning of tax year 2022 filing season – and TurboTax is ready to help you with your taxes.
TurboTax just announced the launch of its TurboTax Live and TurboTax Online products and services for tax year 2022. You can come to TurboTax and get your taxes done from start to finish in one meeting by an experienced TurboTax Live Full Service tax expert, who also specializes in self-employed, investment, and incorporated small business taxes. Tax filers of any income and any complexity can rest assured that TurboTax will take the work and worry out of tax time.
Here’s what’s new with TurboTax Live Full Service this year:
A Personal Welcome Call to Get Started
Taking the pain and confusion out of gathering documents and data, you will get a quick call to help you easily organize your documents, start loading them into your secure tax hub, and match you to a dedicated tax expert.
Full Hand Off and Taxes Done in One Session
You can hand your taxes off to a tax expert and be done in one meeting and get all of your questions answered in real time with the option to review everything before filing so you don’t have to wait and wonder about when your taxes will be done.
Specialized Self-Employed, Investor and Small Business, Tax Experts
From the start, if you are self-employed, own an incorporated small business or you are an investor, you will be matched with specialized tax experts experienced in your situation, who can optimize your tax savings and provide year-round guidance and savings strategies.
Stay with the Same Trusted Expert
With Full Service, you get matched with an expert you get to know and trust, who can help you make the best decisions based on your situation. An added bonus: you can even request to have the same tax expert do your taxes again next year.
In addition, Full Service will better serve the growing Hispanic population. Beginning January 2023, you can choose to go through a Spanish language Full Service experience – including fully translated shopping and onboarding experiences and get matched to a bilingual tax expert who will prepare, sign and file your taxes.
TurboTax will also expand to small business returns with the launch of TurboTax Live Full Service Business Tax in December 2022. If you are an Incorporated business owner with a multi-member LLC, S-corp, or partnership you will be matched with and can fully hand your taxes to a specialized tax expert experienced in the complexities of small business taxes.
In addition to TurboTax Live Full Service, TurboTax is also launching TurboTax Online and TurboTax Live Assisted products where you can receive enhanced guidance and technological advances for crypto investments, stocks, self-employed and 1099-K income, giving you the confidence your taxes are done right regardless of your tax situation.
If you want help along the way, TurboTax Live Assisted gives you access to tax experts to help you complete your taxes, fix any mistakes, and explain what’s next. You can also get an expert final review of their taxes before they file.
If you have a *simple tax return only and file by March 31, 2023 you can get live help along the way and have your tax return reviewed before you file by a tax expert for free with the TurboTax Live Assisted Basic Offer.
*Simple tax returns only include W-2 income, limited interest and dividend income reported on a 1099-INT or 1099-DIV, hobby, personal property rental or personal item sales income reported on Form 1099-K, IRS standard deduction, Earned Income Tax Credit (EIC), Child tax credits and the student loan interest deduction.
With the growth in investors and market volatility, TurboTax is focused on helping investors efficiently and accurately report their investment gains and losses. Some of the new product features for investors include:
- Easy Import of Crypto Information from Digital Assets and Wallets: In addition to the automatic import of up to 10,000 stock transactions and up to 20,000 crypto transactions at once, if you are a crypto investor, you now can save time with the ability to import information from digital asset exchanges and wallets to automatically calculate capital gains and losses.
- Guidance to Help Turn Investment Losses into Wins: TurboTax will help surface and guide you to use any unrealized capital losses you may have from prior years, improving your tax outcome and lowering taxes owed.
- Accurate Import of Cost Basis with Intelligent Tax Optimization: Intelligent Tax Optimization takes the work out of tracking down missing and accurate cost basis values and assures accurate reporting of capital gains and losses by importing your cost basis directly from your financial institutions and crypto exchanges into the correct forms.
With the rise of self-employed businesses and new creative ways to earn an income, TurboTax Self-Employed uses advanced import capabilities and artificial intelligence to guide customers through their self-employed taxes and Form 1099-K changes.
Some of the new features for self-employed include:
- Snap and autofill for 1099-K and 1099-NEC: If you are a creator, Influencer, Rideshare Driver, or have another type of self-employed business you can get a jumpstart on your taxes and eliminate work by not only being able to snap a photo of your Form 1099-NEC, but now Form 1099-K. You can verify your data and your information will be pulled into the correct forms.
- Get Special Guidance for Form 1099-K guidance: If you receive a Form 1099-K for third party payments processed for the first time you may be unclear about how 1099-K income impacts your taxes. Whether an occasional online seller or running your own business, you will get specific guidance to help you accurately report 1099-K income.
- TurboTax Expense Monitor: Allows you to track your self-employed expenses year-round so you get every dollar you deserve for your business.
- Streamlined Schedule C: There are more unique self-employed businesses than ever before and self-employed business owners shouldn’t have to navigate multiple screens that aren’t relevant to them. You will be guided through an intuitive, tailored tax prep experience that adapts to your situation providing less screens and questions so you only see what is relevant to you and can finish faster.
We’ve Got You Covered
Don’t worry about knowing tax laws. You can come to TurboTax and fully hand over your taxes to a TurboTax Live tax expert and get your taxes done from start to finish in one meeting. TurboTax Live tax experts are available year-round in English and Spanish, and can review, sign, and file your tax return—all from the comfort of your home.
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