Review by DC-User

I’ve used Turbotax for over 2o years. 2014 is the last year for me.

For the past 10 years I have owned a rental property in a foreign country and have prepared my taxes using Turbotax Deluxe. This year I had to upgrade to the Home and Business version at a substantially higher price. Strike One.

When I started to input my data on the rental property Turbotax software notified me that I had been claiming too much depreciation in past years and would have to file amended returns going back to 2010 as well as filing Form 3115 requesting IRS to allow me to change my depreciation method. WTF??? I was relying on Turbotax to choose the appropriate depreciation method since I had inputted the fact that the property is in a foreign country and also provided the Canadian address. Apparently turbotax has been miscalculating depreciation for the past 10 years despite the input data being correct. Strike Two.

Now I have to do a lot of refiling and may incur penalties and interest (which, I assume Turbotax will pay) but even if I am held harmless the amount of time and effort spent, plus having to hire a CPA to fill out the form (Turbotax has not offered to provide any assistance with Form 3115, nor to pay the CPA’s fee) it is still going to cost me big time. Strike Three!nnI am not the only person that has been burned on this depreciation issue. The Turbotax community website is filled with similar stories. My guess is that there will be a class action suit against Intuit over this. They can count me in.