Free Tax Deduction Tracking Online:
TurboTax ItsDeductible Online is free tax deduction tracking software that values noncash donations to charity using a combination of auction web sites (including eBay), resale outlets and thrift stores.
Tax Deductible Donation Reports:
You can print four types of donation reports in TurboTax ItsDeductible Online , but you cannot generate a Tax Form 8283 unless you import TurboTax ItsDeductible Online data into TurboTax tax preparation software.
ItsDeductible Tax Reference and Help:
TurboTax ItsDeductible Online Internet Explorer Toolbar gives one-click access to ItsDeductible Online and has a feature for one-time or recurring reminders.
While I am not sure how useful the ItsDeductible Online Internet Explorer Toolbar is, the Live Community is an excellent feature. TurboTax Live Community is a tool for asking questions and for getting tips that are relevant to the part of ItsDeductible being used. Answers and tips are provided by other ItsDeductible users and TurboTax support staff.
Links to IRS publications are provided under the Help link at the top of ItsDeductible Online.
TurboTax ItsDeductible Online Overview:
Using TurboTax ItsDeductible Online
TurboTax ItsDeductible Online is very easy to navigate, with intuitive links and drop down selection lists. ItsDeductible Online does not support uploading digital images as evidence of non-cash donations, although the desktop version of ItsDeductible did so when it was still available. Losing the image support removed a major feature from ItsDeductible.
Should You Try ItsDeductible?
ItsDeductible Online is most convenient to use for people who prepare their annual income tax return with TurboTax. This is because TurboTax directly imports data from ItsDeductible. If you do not use TurboTax to prepare income taxes, you can use the figures on a printed report from TurboTax ItsDeductible Online.
You have nothing to lose by giving TurboTax ItsDeductible Online a try, and you will likely gain a larger deduction for charitable contributions. You can always save tax deduction-related digital images and receipts on a CD or other media and store it with your yearly tax documents along with reports printed from ItsDeductible. If you prefer tax deduction tracking software that supports images, try DeductionTraQ.