Introduction
Preparing and filing taxes can be a stressful and tedious process, especially if you’re starting from scratch. Fortunately, Turbotax is here to help. With its user-friendly interface and helpful features, Turbotax makes it easy to start over and get the most out of your tax return. In this article, we will provide a step-by-step guide on how to start over on Turbotax.
Create a New Turbotax Account
The first step in starting over on Turbotax is to create a new account. This can be done by navigating to the Turbotax website and clicking on “Sign Up” in the top right corner of the page. From there, you will be prompted to enter your email address, create a password, and select the type of account you would like to create. Once you have filled out all of the necessary information, click on “Create Account” to complete the process.
Transfer Previous Tax Data from a Prior Year to the Current Year
If you have previously filed taxes with Turbotax, you can transfer your tax data from a prior year to the current year. To do so, log into your Turbotax account and select “Transfer Previous Year’s Tax Data” from the menu. From there, you will be prompted to enter the year of the tax return you would like to transfer. Once you have selected the year, click on “Transfer Now” to begin the transfer process.
Re-enter Personal Information and Financial Details
Once you have transferred your previous tax data, you will need to re-enter your personal information and financial details. To do so, select “Personal Info & Financials” from the menu. From there, you will be prompted to enter your name, Social Security number, address, and other relevant information. Once you have completed this step, click on “Continue” to move on to the next step.
Re-enter Dependent Information
If you have dependents that need to be included in your tax return, you will need to re-enter their information as well. To do so, select “Dependents” from the menu. From there, you will be prompted to enter their name, Social Security number, and other relevant information. Once you have completed this step, click on “Continue” to move on to the next step.
Review and Verify All Details Entered
Once you have entered all of your personal information and financial details, it is important to review and verify all of the information you have entered. To do so, select “Review & Verify” from the menu. From there, you will be able to review all of the information you have entered and make any necessary changes. Once you have verified all of the information, click on “Continue” to move on to the next step.
File Your Taxes with Turbotax
The final step in starting over on Turbotax is to file your taxes. To do so, select “File” from the menu. From there, you will be prompted to enter your payment information and select the method of filing (e.g. paper filing or electronic filing). Once you have completed this step, click on “Continue” to submit your tax return. According to the Internal Revenue Service (IRS), the average taxpayer takes 22 minutes to prepare and e-file their federal tax return using Turbotax. 1
Conclusion
Starting over on Turbotax can seem daunting at first, but with the help of this step-by-step guide, you can easily get the most out of your tax return. By creating a new account, transferring previous tax data, re-entering personal information and financial details, and filing your taxes with Turbotax, you can save time and money when preparing your taxes.
1Internal Revenue Service. (2020). Electronic Filing | IRS Tax Tip 2020-21. Retrieved from https://www.irs.
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