Credit Karma Tax Review by a CPA | Pros + Cons | Walkthrough
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- Опубліковано 14 жов 2024
- In this Credit Karma Tax review, tutorial, and walkthrough, Logan Allec, CPA gives his opinion on the Credit Karma software for use in preparing 2020 tax returns due in 2021. He also goes over how this tax software compares to the H&R Block and TurboTax software. Having been a CPA for over a decade, Logan has ample experience with all kinds of tax preparation software and is excited to share his knowledge with you in this video. ➡️ MY CREDIT KARMA LINK: go.moneydonerig...
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➡️ MY TAXACT LINK: www.anrdoezrs....
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OTHER TAX SOFTWARE REVIEW VIDEOS:
➡️ MY 2020-2021 TURBOTAX REVIEW: • TurboTax Review by a C...
➡️ MY 2020-2021 H&R BLOCK REVIEW: • H&R Block Review by a ...
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Have you ever used Credit Karma's Tax software? If not, how do you file your taxes? Let me know in the comments below!
#tax #taxes #taxsoftware
For others looking for the 1099B Section it starts at 27:00
legend!
I;ve used Credit Karma for my taxes ever since it began. The first year I was skeptical and also did my return on Turbo Tax (without filing with them) and the results were exactly the same. Love that it's free, I would have had pay about $49 on Turbo Tax.
Did you get a white Visa card
Did you get a white visa card
I personally dont mind paying little money. What I want most is which interface is easiest to use (I file Schedule C).
@@mariapilla2573 🦗🦗🦗🦗No answer???
@@jeffreyford9560 what
Credit Karma Tax is the best. Totally free and easy to use. I will be using it again for the third year in a row.
Yes, I think if more people knew about them they'd give the paid tax softwares (especially the lower-end ones) a run for their money!!!
Great just save the phone number just in case you need previous records pit it in cloud. For back up. M
Hi question Did my taxes feb 21 and It was approved ok and asked if I would like my refund with this card I did so asking you how long did it take you to receive your card
@@maryjanesreviews1728 I have never done the card before. I have always set up direct deposit of my refund.
I have been using Credit Karma for several years now, I would definitely recommend them! I will never go back to Turbo Tax. Also they keep a copy of your taxes handy in the app. so that it is easily accessible in case you need to refer back to them at anytime.
Thought all tax preparers had that practise it used to be a min 7 year file retention nationwide
2 years now for me..
@@timhoovermusicman sorry I must be older than I think is gas still25¢ gal y sh min wage about to go up it's bout time it been 1.75 hr 40 years!!!
Been using TT over a decade. I like it but I HATE that they charge $25 to e-File State returns when I could mail it for under 0.50 cents. Grrr, I may look at using Kredit Karma next year. Thanks for the overview. On the Head of Household or Single, I think it's a no brainer once you've filed tax returns a few times. If you don't have dependents, your not Head of Household.
Hey Logan. Thank you for the review. I realized that the last 2 returns (2018, 2019) I did not mark that we had a HDHP and ended up overpaying taxes in those returns. What form can I use to amend this for those returns?
Ive done turbo and tax slayer and both auto fill stimulus as if I was paid.
TurboTax gave me more on state tax and credit karma gave me a hundred dollar less but federal tax was the same on both websites
Great video. This is my 3rd time using Credit Karma Tax, but my 1st time using a 1099-B. Very helpful.
I used TurboTax this year because according to credit karma showed me owing both tax for the state and federal tax. Through TurboTax I recieved a refund
I used it twice, it was easy and not to bad and it was actually Free Free .
Question on coin base I took out 36 dollars of my crypto coins that I made and there is Robinhood which I spend 10 dollars on buying dogecoin and brittrex I spend 1000 on dogecoin so will I have to flied taxes for this April or when?? Also where should I flied my taxes for the first time I do landscaping work and get paid in cash and live with my parents I’m 20 years old
I used them last year. It was not hard. And everything was fine.
Good to know. Thanks 😊
@@deemitchell7987 2 years now for me. 100% free.
@@timhoovermusicman cool. 😊
Same here I even got an extra 150 bucks direct deposited from irs months later don't know why but I didn't ask lol.
I have been looking for hours while filing with Credit Karma as a sole proprietor and I cannot find where to input my expenses for business and mileage for my driving...Have you seen it at all?
i filed my 2021 tax refund through e-file turbo tax, at the end of submitting 5 W2 formes, it recommended i use credit karma card, i filed in febuary 2022 electronically, and i still have not reicieved my refund...did i get burned??
I used credit Karma last year no complaints. Would recommend them over turbo definitely
2 years now for me.
How fast did you get you taxes after filing?
@@jessicahonorat5970 I used direct deposit, last year I got one in 5 days and the other in 10.
I got mine in 10 days this year
Sorry I just seen your messages lol 😃
What about direct deposit with credit karma money says recommended ?
Thanks so much for this review Logan. I actually used Credit Karma last year and it was ok. I'm sure you could tell me this, but I tried to file with CK again and it's not accepting Alabama State Taxes BUT it did accept my Federal. I saw the same notice that you saw about not having certain States not listed. Does the notice that it it lists that says that the IRS isn't open/nor accepting e-filing right now. I didn't know why they would accept my Federal and not the State yet. Thanks again for keeping us ALL well informed. Have a good evening!
Federal cannot actually be filed with IRS until Feb 12
@@janicenunn8525 Thanls for your reply. It's actually State Taxes that's not letting me file for Alabama. The Federal was able to be submitted. I know that IRS won't be accepting e-filing until 2/12 but I just didn't understand why they wouldn't accept AL State yet. Maybe closer to the date it will. Have a good evening!
Helpful video, but i dont think you covered 401k contributions tax credit page, unless im missing it?🤔
Have you ever used the Credit Karma app for there credit score n anything else that they have Logan Alec I have the credit karma app but I don’t think 🤔 it’s very good on there score bc it’s not what I have with Lexington Law Firm it’s more than what they have n they have one fico score n credit karma has 2 scores
Hello Logan i have a question if my sister claimed my son for 2019 but my oldest son this year will be filing head of house hold. My question is if there was a third stimulus check the money that goes to the dependent would it still go to my sister being that the last two went to her or would it go to my son now that he's filing head of house hold? Thank you
This year I'm confused on state file. It won't let me submit
Yes! This is my first time filing with them and the state filing is so confusing. I’m not even sure if I submitted them or not.
Credit Karma doesn't support all State Return forms. Example in Minnesota it does not allow or provide forms (M1PR) for Rent Paid Credit/Refunds. They also need to clarify that if the second stimulus check was only received in 2021 we can still go ahead and enter the amount in the 2020 return or not!!!!
NVM I did some research and the renters credit refund can be filed separately. Link is
www.revenue.state.mn.us/sites/default/files/2020-12/m1pr_20_0.pdf
Also even though the secound stimulus check was only sent in Jan 2021 you can just enter that amount in the 2020 return.
what if you file 2 state tax returns - can you still use credit Karma tax?
Yes you can.
Your $1200 stimulus was paid in 2020. Why would they include the $600 payment I am pretty sure was in 2021?
But..... The last stimulus check was in January of 2021. Not in 2020. Would you still put down both checks???
Thought stimulus was not taxable quantity
Coming from SSDI beneficiary haven't done taxes over 12 years so
@@williambowman7244 stimulus is not taxable. It's an advanced tax credit.
@@timhoovermusicman another time question if on SSDI not doing taxes for years how it going to be credited
I just wanted to file my taxes with turbotax and get a direct deposit to my bank, and hit recommended Credit Karma because it says it would be deposited faster....checked the pdf of where my income tax will be deposited and its not my bank account....what's going on i clicked the credit karma site and it looks like they are going to what...send me a credit card with my tax money on it...is that correct?...
Yes sounds like what I did, I should of just used my netspend card I still have not got my state, federal or stimmy and I filed late January
Logan Hi please can you explain how to use 1098 form and 8396 form to claim MCC home interest
Dependent identification number how do I enter it on credit karma
It wasn't free for me!! I kept on choosing the "free" option. However at the end I was charged $150 I'm not happy. I also couldn't give my bank info and I had no choice but to have it go on the Credit Karma spend account which I already received the card but not my refund. Here it is the 19th and I filed on the 6th. Yeah not happy. Still have a zero balance.
Which one does not charge for unemployment income?
Intuit is turbo tax too right
I just did TurboTax to see if I get my first and second stimulus check and they accepted it I'm getting $1,800 but it's coming on credit Karma they said it's a white Visa card in 21 days do you think this is true
I have the card and it sux I still have not yet received my federal, state or stimmy
@@lorraineolivas6027 wow that stinks😢
Does ck have an option to take a photo of, day your 1099, instead of manually entering everything?
yes
@@CourtyardAC could you explain how that works please
600 came in 2021 would you put that in for 2020
does it know about my difficulty of care tax exemption? I get paid by medicaid waiver program to do my wife's long term home care in our home. Does it know I qualify for notice 2014-7? My tax person retired so I need to do my own this year.
my tax software has a search function so you could get on and research that, I imagine. It also sets up topics that you can click on and it will guide you through it.
Love your video
Hmm, thinking of doing my taxes this year
What do you put if your ex claimed the kids last year and got the stimulus for them but I am claiming them this year. I got the the money for myself but not them. If I put in just the money I received will it tell me to claim the rebate for the kids even though money was sent out for them to their father?
You might get audited for that, do you share joint custody with him?
Logan should I file jointly if my wife does not work and has no income ? Or is it not a good idea.. ?
@JCBS723 how about if i file married filing separate i'm trying to get away from my state return going to debt collectors
I used it last year and it’s wonderful
Has anyone got the $50 that credit karma said will give you if you do you're tax return with them
@loganallec. Hey we have talked before. Im wandering if you can help. I received the first stimulus via turbo tax card. This time it says scheduled to be mailed on January 6th and still haven't received it. Im wandering whats going on???
They said they should all be delivered by Feb 1
I too used it for the first time last year and hands down it was much easier than tax act and taxslayer and it is totally FREE!
Sorry, I probably should of added my state of residence which is Kansas and it accepted my state.
2 years now for me in Oregon
How long does it take to get accepted ? And to actually receive the payment
My federal return was accepted in less than 5 minutes. I just did it a few weeks ago, I was surprised it was that quick.
I'm filing with 1099s this year with 1 w2. How do I claim gas, mileage etc?
how to report Wash sale loss disallowed for Box A ?
Very helpful thanks 💯
Great job 👏. Thanks
Does anyone know how reporting for Roth IRA works? Technically it's non-deductable, so I should not have to report, but there's a section in Credit Karma for it. When I put in my contribution ($6000), it takes me to a page that I have to get a tax penality for excess contributions.... even though $6000 is within the limit.
Should I just leave it blank, or am I doing something wrong? This is my first time filing myself, so any help would be appreciated. Thanks in advanced!
I had the same issue. SO, I left mine blank because I already paid taxes on it. and the thing with Roth IRA it should be tax free when you take it out. so I don't think you have to add it as tax deductions because you have paid for it already. At least that what I did on mine. I left it blank. And if they complain I will tell them I paid you all the taxes on it.
@@mohammedlabeeb Thanks so much for the reply! I wanted to get taxes out of the way a week ago, so I went ahead and did what you did. Like you said, regular IRAs give you a tax deduction, and Roth doesn't, so not sure why Credit Karma had that section to begin with. Reassuring to hear you did the same thing--thanks again!
A rental one would be very helpful.
Sincere thanks for your walkthrough. Very helpful
You may want to edit and hide sensitive info on form...
Who here 2021 and trying fill out the unemployment form 1099G
Me did u figure it out?
Now they work through turbo tax
I use TaxAct but used Credit Karma the 1st yr they had taxes. It wasn't free. It glitched & screwed up my state taxes. My paid out amount wasn't carried to final page & state took out the exact amount I paid that year. Still need that fixed. Anyone know how many years later you can correct a return?
Texaco wanted 70 bucks twice. Used credit karma and 100% free.
How to add unemployment ??
There will be a section called, “1099” just click on it. It will ask your 1099g info
@@BlVCK_ANGEL94 thankx
@@rodilloz np
What the child tax credit this year?
look up child tax credit 2020. I know that is significantly more than previous years so congrats :D
Hi Logan thank you I have questions about tax 1099 uber Lyft they send you all earnings even the money they took they send you the expense but it’s showing that you have made all this money can you please check their 1099 tax forms thanks
Was the check issued in 2020 or 2021, would that make a difference?
If you got stimulus check no, if you received it you know you are not eligible for the credit
I owe back taxes from 2010, ready to file, do I start with 2020? How far do I need to go back?
I wouldn't even touch a question like that
How do they tax u if you don’t have health insurance in ca tax penalty
There is no more health insurance penalty after Obama care
Don't be too fast to file last report I heard IRS not accepting tax forms till after Feb 15 ( plus they are not running auto checks stimulus ) since Jan 15
My question is what are they doing now this month ???????
So I don’t get any Child Tax Credit on my taxes for my youngest son cause he’s 17. But if I slap him at 17 it’s Child Abuse. Someone explain that shit to me 🤷🏽♂️😂
I use e-file. What do you think of them please?
Credit karma and tirbo tax are both owned by intuit.
The tax portion of Credit Karma has been sold to Square but we won't see the effects of that until next year 2022. The Justice Department prevented Intuit from claiming even more market share with tax preparation. Thank goodness I HATE Intuit and the way they lobby the government to keep tax filing difficult. I seriously loathe Intuit.
credit karma always calculates more refund than turbo tax. i think it makes mistakes
Hi. I don’t like the idea they are asking for your SS.
Yeah credit karma, it's all good till you get your phone disconnected, then you can't look at the previous years taxes, even if you can log into credit Karma. Also, they won't change that number. Screwed me up in 2019 regarding looking at my 2018 taxes I did with them that prior year.
Unbelievable.... the SYSTEM has you!
😎👍
Shouldn't you actually try the software before reviewing it?
Blooom review🙂
I hope they remain free or else......😬
I have credit 80k $
I use freetaxusa.com for the past few years. They are free for federal but $12 for state taxes.
Going to give you a same result
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I use a tax guy.
I wantto tell my experience with Credit Karma. It took them a month to give me my tax refund. Lots of excuses and runaround.
First they told me that I wasn’t giving them the right account number, which I totally doubt. Then they said someone would email me about what to do. I never got an email from that person.
Then I was led to a webpage on their site which I couldn’t get off of, and was about savings, not about my refund.
They told me that if I would activate their debit card and jump through some hoops that I would get my money. I think it’s all about delaying payment as long as possible so they can collect interest on people for money.
Finally I talked to a supervisor and he did help me to be sent a check for my refund.
I think it is very interesting that two times, on the same day, when I typed in a six digit number at their request, the number ended with 666. What are the statistical probabilities of that happening? Plus I’ve never seen any business or bank ask for verification numbers that had 666 in them.
I’m so sorry I never had anything to do with credit karma.
Where to report the 1st stimulus check fee received when filing annual tax returns in Credit Karma?