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Solved

Itsdeductible being discontinued.. WHAT???

Forum|Forum|3 years ago
May 27, 2022
52 replies
0 views

Why is ItsDeductible being discontinued? People really depend on it and you're going to dump everyone October 2022?? Please don't do this, please keep ItsDeductible going.

ItsDeductible Online

Best answer by ErickaY

Hi all,

As some of you may have heard, ItsDeductible will be staying!

We heard your valuable feedback and we are happy to announce that we have revised our decision and will continue to support ItsDeductible next year. Customers' accounts and the data in them will continue to be available without interruption. You could take a look at our updated article here.

Thank you,

TurboTax & Mint Community Team

Show previous replies

Blairo

I feel the same way. I have used It's Deductible every year and find it to be one of the Most Valuable Features of TurboTax. Please reconsider your plan to do away with this very Valuable Feature. Thanks!!

jerry-i

Say it ain't so! I assume Intuit tried advertising to increase the user base and it didn't move the needle. Will Intuit consider continuing TurboTax ItsDeductible Donation Valuation Tool by charging for the product? I would be willing to pay a modest annual fee for Intuit to maintain this tool and keep it integrated with TurboTax.

Anonymous_

Employee

@jerry-i wrote:

Will Intuit consider continuing TurboTax ItsDeductible Donation Valuation Tool by charging for the product?

I have zero insight, but I would tend to think it would be highly doubtful. As has been mentioned in this, and other, threads, the IRS did not accept the valuations in certain instances.

ColonelB

I agree. And why would they pick an October date on which to discontinue the tool? Why could Intuit not let us finish out the 2022 tax year? And why, on 6/20/22, can't I add any donated items? There are still roughly four months until the stated discontinuation date. Poor customer service to those of us who have been loyal TurboTax users for many, many years.

noodad

Employee

Oy, you think by now I should have known better, given how long I've been using Intuit's products.

I relied on PocketQuicken for years, back when Palm was a thing, until Intuit dropped that and had no mobile solution at all for years

I relied on Quicken Home Inventory for years, until that was dropped

I relied on Quicken Medical Expense Manager for years, until that was dropped

I guess I should be thankful they spun off a new company to take over Quicken, rather than just dropping that one too?

Fairfax_George

While Mint may say that it categorizes monetary donations, I'm constantly purchasing non-perishable food items for donations ~3x week to a roadside food bank.

And it's not even clear that Mint's donations can be imported (I don't recall that option last year, and am not on the computer now that has my copy of Turbotax).

To say the least, this sucks.

Critter-3

Things you buy that do not depreciate are treated like cash donations ... if you are ever audited the fact you have a cash receipt and the donation slip within a short time period would support the "cash" donation.

noodad

Employee

@Critter-3 wrote:
Things you buy that do not depreciate are treated like cash donations ... if you are ever audited the fact you have a cash receipt and the donation slip within a short time period would support the "cash" donation.

Basically like @Fairfax_George said when purchasing non-perishable food items to donate? I would think you could treat this as "Out-of-Pocket Expenses in Giving Services" (see https://www.irs.gov/publications/p526#en_US_2021_publink[phone number removed]). In the case of @Fairfax_George , they're basically feeding the clients of the food bank, and then deducting the expenses

CD-in-IL

You can access your It's Deductible summary reports for this and the previous years but you cannot make new entries for 2022. Follow IRS Publication 561 and you can use a few charities online Fair Market Value (FMV) estimate tools:

https://goodwillnne.org/donate/dona[product key removed]/

https://satruck.org/Home/DonationValueGuide

and also financial services websites like Bankrate:

https://www.bankrate.com/taxes/dona[product key removed]/

Personally, I enjoyed the tool and the ability to import the data directly to my Turbo Tax product. I do not find the Mint app a suitable substitute for managing like-in-kind donations or personal finances. Mint is fine but I prefer Quicken for managing my finances, investments, and exporting to Turbo Tax. I guess that will be the next interface to bite the dust in an effort to make us use Mint. Won't happen. I'll switch to another tax software first.

Anonymous_

Employee

@CD-in-IL wrote:
.....I prefer Quicken for managing my finances, investments, and exporting to Turbo Tax. I guess that will be the next interface to bite the dust in an effort to make us use Mint.....

Intuit no longer owns nor controls Quicken.

JimGr

tagteam: Intuit would still control the import from Quicken to TurboTax and would have an interest in disabling that to promote use of Mint instead of Quicken.

CD-in-IL: I've used TurboTax and Quicken for decades. I'm curious about the type of info that you import from Quicken to TurboTax.

tmjapp17ret2010

It would have nice to let present users finish out the 2022 tax year

Anonymous_

Employee

@tmjapp17ret2010 wrote:

It would have nice to let present users finish out the 2022 tax year

Yes, it would except that would actually require them to continue web site operation until April of 2023 and then October of 2023 for those who filed extensions.

ColonelB

Exending Itsdeductible to benefit those of us readying our 2022 taxes is a minimum; it should be kept long-term. I have appreciated all of the replies to my post and the advice that H&R Block may be the way to go. As I told the CEO, I have a long history with Turbotax, including being a beta-tester for several years. So I feel kind of dissed by Intuit's arbitrary decision. (I know, it's not all about me!)

jogger1981

Its Deductible is one of the BEST features in Turbo Tax. Why, in heavens name are you deleting it? And doing it before the current year ends If you have to do this why not do it as of Jan 1,2023. In that way, those of us who have been faithful Turbo Tax users can have it available until year.

mtiede

Employee

I hate it when you buy something because of the features and then the features are removed. I've used ItsDeductible with TurboTax and was thankful for it. Now, not so much, from a LONG time customer.

sjobrivera

I also pay for Turbotax every year, plus about $100 of add-ons (transmitting state returns, one additional state return). I’d rather pay yet another premium to be able to continue using its deductible than having to guess on valuations and uploading myself. Turbotax has gotten so expensive to use. The main reason I stick with TurboTax is because of the convenience of its deductible and the carryover of information year after year. I’m disappointed.