Best Tax Software for Investors 2020

Daniel Penzing
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Best Tax Software

We recommend that you use online system to complete your tax filing. Tax software will allow you to complete your taxes with ease and allow you to file them automatically.

We recommend you to look for the best tax software 2020 by check some features and compare them.

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TurboTax Premier: Best Full-Featured Tax Software

If you're looking for a full-featured tax software with amazing support and super-fast customer service, then TurboTax Premier is the best tax software for you.

If you're self-employed or you sell investment properties, then TurboTax Premier is better for you as it can handle those kinds of tax deductions that can be hard to navigate with TurboTax Free and TurboTax Free + State.

TurboTax Premier doesn't include the TurboTax mobile app, but you can install the web app and use it on your phone.

If you expect your tax situation to be pretty straightforward, without any complicated itemized deductions or business income, then TurboTax Free is probably the way to go.

TurboTax Free has a new feature called one-clickTurboTax, which lets you jump in and out of the app quickly. This is useful if you mindlessly click around the app, lose your progress, and then have to start from the beginning.

TurboTax Free can handle a lot of simple cases, but doesn't really have a lot of bells and whistles. It mistakes can be made pretty easily here. If you find yourself lost in TurboTax Free or confused, it might be time to switch to TurboTax Premier.

The Bottom Line

If you want a full-featured tax software and you don't have any tricky tax situations, then you should go with TurboTax Premier.

TurboTax Premier Features

Includes everything you’ll need to complete your taxes, including:

  • Automatically import investment information
  • TurboTax Premier
  • review

Everything you need for your taxes:

  • Try before you buy
  • TurboTax Premier
  • review

Helps you get every tax deduction and credit you deserve.

Whether you want your taxes done the easiest way or prefer to do taxes the old-fashioned way, TurboTax has you covered:

  • Review the expanded Guides and Guided Answers
  • Select the way you want to answer your tax questions
  • TurboTax Premier
  • video

Get your maximum refund.

Review

Preview your federal tax return before you file.

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Friendly, 7-day/4-night customer support from the date you order.

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TurboTax Premier Pricing

For us to be able to say that TurboTax Premier is a quality product, we’d need to test it. So our team took it out in the field for a test and review.

Was it worth every single cent we spent on it? The answer is yes. Here’s why…

First of all, it’s quite clear that they really put a lot of effort in giving you a product that you will really like. This is really reflected on the design, which is extremely user-friendly as well as on the interface it creates.

The latter probably deserves a special mention, because it’s so different from other products you’ve seen in the past.

Their interface is user-friendly one that you are likely to easily get to grips with. It’s also clear, and it’s just plain beautiful.

They keep things nice and simple, which is something you’ll be thankful for once your taxes are done.

Setting up is simple, and you won’t have any issues. But the real treat comes when you go tax filing. This is where the product truly shines.

TaxAct Premier+: Best Value-for-Money Tax Filing Service

TaxAct Premier+ offers the best value-for-money of any of the tax software services. Maybe you are new to the idea of making money through investing, or maybe you want to try it out before you commit. TaxAct Premier+ is a good way to give it a go. You can use TaxAct Premier+ for free and see if you like it. This is a very low risk option.

TaxAct Premier+ has all the features of the other packages, and you can use it with the comfort of knowing that if you don’t like your experience you can cancel their services without incurring an early termination fee. TaxAct Premier+ is available on both mobile and desktop tablets for your convenience.

Furthermore, TaxAct Premier+’s customer support team is more than qualified to handle your queries. They have an A+ status with the Better Business Bureau. Last, TaxAct Premier+ comes with a price guarantee that you will not find with its more expensive counterparts. If you find another tax software package with a lower price, TaxAct Premier+ will match that price.

TaxAct Premier+ Features

TaxAct Premier+ Pricing

Limited Edition is their most basic package. It does the most basic of taxes, and you can do them a maximum of 3 times or 5 times if you file jointly.

If you don’t need a nice looking tax return with a paid preparer’s name on it, this is their cheapest product.

What about the other editions of TaxAct?

For the ability to do more advanced tax returns, to file more than 5 returns, or for professional guidance, the next step up is their Premium Edition. It includes TaxAct’s signature look and layout, and it also includes a professional TaxAct signature and some e-file services.

The Premium Edition includes a 3 year IRS audit defense. This means that you´ll have more time to work on your own and give your money to a tax preparer if you decide that is what you want.

Finally, one of the most popular products among planners is the Premier + edition. With it, you get electronic copies of all forms that are needed for the very best tax returns. You also get a year of free updates. However, beware that you can only get one year at a time.

H&R Block Premium: Best In-Person Support

With its in-person support and great features, H&R Block Premium for 2019 is a solid Choice for medium-to-advanced investors.

H&R Block Premium offers hassle-free payroll services, so you can save time and have all your tax information gathered at the same place. Additionally, you can count on H&R Block for expert tax advice.

The Premium edition is a good choice if you have financial investments or rental properties. With H&R Block Premium, you'll be able to make a capital gains election and record your wash sale transactions.

If you want to simplify your tax return and take advantage of automatic import, you can choose to pay for H&R Block's tax software yearly and save some money. If you choose to buy blocks of 1040 and 1040 EZ preparation, you'll be able to save more than 50% on Premium.

The H&R Block Premium 2019 is a good product if you need a product that can be used in-person.

H&R Block Premium Features

H&R Block Premium Pricing

H&R Block Premium Pricing is the most expensive financial software for investors. This premium version of the H&R Block software is designed for the more complex tax situations and includes more of the typical tax preparation features. These options include nearly everything you’d expect from a tax software system like support for multiple returns and spouses, estimated tax payments, and communicating with H&R Block on your return. This top-of-the-line tier also contains the exact capabilities you would expect from the parent company of H&R Block.

If you have a particularly interesting financial situation, the H&R Block Premium Pricing version of the software is your best bet to get the features that really matter to you.

eSmart Tax Deluxe: Unlimited Real-Time Tax Advice

eSmart Tax Deluxe Features

No stress audit support

Free live help via Chat, Email and Telephone support.

15 Free Federal E-Files and One (1) Free State E-File

Jan 29, 2018. 2018 – SimpleTax is the fastest way to prepare your tax return on your mobile phone or tablet. Get your maximum refund the fastest way possible! With the Canada Revenue Agency deadlines fast approaching, the dash to complete your tax return is now! SimpleTax allows for effortless tax filing as it takes you through each step of your tax return.

eSmart Tax Deluxe Pricing

TaxSlayer Premium: Speedy, Accurate Filing

And Hassle-Free Refunds.

TaxSlayer Premium is ideal for investors, and it’s also a great program for those who’ve never filed their taxes before. The 100% accurate tax calculation, tax return concierge, and quick filing process all ensure that your tax return will be filed accurately … and within a fraction of the time. Plus, the fact that you can file your taxes for free is an added bonus.

This product is not available in every state … you may need to look into other programs if the one you’re looking for isn’t available in your state.

The Good

TaxSlayer Premium has a number of great features that make it an excellent choice for investors:

Cost saving features: There are some great tax saving features, like the ability to use your own state tax return. Sometimes, the tax software you’re using won’t allow you to e-file. In this case, TaxSlayer Premium allows you to print your tax return and mail it in. If you’re not e-filing, you’ll save money on postage.

TaxSlayer Premium Features

When it comes to tax software for investors, there are many options to choose from, but TaxSlayer Premium offers some great features that others lack.

Provides Investment Income Support

TaxSlayer Premium includes several forms for investment income including Schedule D, 8949, and 6781. These are especially useful for investors who have short-term investments and need to report the short-term gains/losses.

Provides Deduction and Credit Tools

TaxSlayer Premium allows anyone who is an eligible investor to take advantage of tax savings tools including Schedule A for itemized deductions, Schedule B for capital gains and losses, Schedule D for capital gains, losses, and dividends, and Schedule K-1 for self-employment income.

Allows You to Complete Your Tax Return

With TaxSlayer Premium, there is no need to have a separate tax software for your investment taxes. The software is able to complete your tax return for investment income as well as non-investment income.

Integrated Refund Tools

TaxSlayer Premium is able to combine several forms and reports to make handling your tax refund as easy as possible. The program allows adjustments to be made to your calculations so you can get the most out of your refund.

TaxSlayer Premium Pricing

Liberty Tax Deluxe: Decent Service for Confident Filers

Liberty Tax Deluxe is an all-around competent package for investment returns with some simple deductions. Easy setup and use make it a leader for investors filing their own returns on a tight schedule. Some investors like the convenience of not having to visit an accountant to file, while others appreciate the assurance of a signed tax return in hand. Either way, Liberty Tax Deluxe with its vast selection of service options makes filing a return easy with no complications, and you can pay in a variety of ways although you are tied into receiving your refund via Direct Deposit.

Liberty Tax Deluxe Features

Here are some of the key features that set Liberty Tax Services’ Deluxe software apart from the competition: Introduction to Investment Planning This course runs users through the basics of investing in stocks, bonds, mutual funds, and exchange-traded funds. It gives users an overview of how to pick investment goals, how to choose a mutual fund, how to determine an appropriate asset allocation, and much more.

Real-Time Market Data and Financial News This feature allows users to view up-to-the-minute market data and financial news for any stock. Users also have access to pre-programmed adjustments for reinvestments, dividends, capital gains, and more.

Market Scenario Planner This tool allows users to enter their assumptions about future market levels and has the ability to calculate potential financial outcomes.

State and Federal Tax Calculators These tools let users easily estimate their potential state and federal tax liability.

Investment Calculators This feature allows users to estimate their potential returns based on reinvesting dividends, using stop-loss orders, and more.

Cash Flow Scheduler This program lets users forecast multiple income sources at the same time.

Breakdown Tool This option allows users to compare different scenarios for specific portfolios in both chart and table formats.

Mutual Fund Screener Users can search for various mutual funds using key criteria.

Liberty Tax Deluxe Pricing

Liberty Tax is easy to use. Their software is functional and the interface is quite easy to follow.

You can file your taxes online with Liberty Tax Online or choose the buy a CD. There is a special deal when you order a CD. You can get 10% off.

The Liberty Tax CD can be used at VITA sites even though it’s a CD. Liberty Tax will walk you through the website to FILE your taxes and not submit until you’re ready.

You can file your taxes online at Liberty Tax Website. Go to File your taxes then choose next to get started.

Next you will go to the filing overview. This screen has the details of your upcoming filing.

The next screen will ask for your ID and it will ask for your TIN number on your W-2. After you complete and submit the ID, you will be able to login with your password.

Once your ID is entered, you can choose your next steps. Liberty Tax will guide you through the process to complete your tax filing.

The next screen asks how you will pay your taxes this year: With a Checkm, Credit or Debit Card, or you can choose to use the tax software.

When you choose to pay with a VISA or MasterCard, you will be guided to another page.

Credit Karma: Best Free Online Tax Filing Service:

Credit Karma has had the best free tax filing service for a couple years in a row, and it’s easy to see why. With Credit Karma, you can file your federal and state tax returns online for free, calculate your refund, check your tax refund status, and sign up for free personalized tax tips.

You will, however, have to do some manual work to get the most out of the service. Credit Karma doesn’t transfer the data they collect to the IRS. You need to manually enter your investment income, exemptions, and itemized deductions. That’s not hard to do, but it can be tedious if you don’t use the service to save time.

You can search for and fill in tax forms based on information you’ve entered on your Credit Karma account, including forms 1040, 1040 es, and 1040 c for free.

What Will You Use This Year?

If you are one of the more than half of investors who use a financial planner or broker to help with their taxes, chances are you will rely on your tax advisor to recommend tax software for you.

But what if you want to save time and money and do your own taxes in a fraction of the time? If you are more comfortable doing it yourself and you are just looking for advice on the best tax software to use, keep reading.

We’ll take a look at the top seven pay-as-you-go products, which tend to be more in line for individual investors. We will also look at the top five subscription products, which are more often for investment advisors and do-it-yourself investors who want some guidance or those preparing to sell a business. For a complete list of all the leading tax software for investors, check out this article.