Child tax credit NOT applied to Additional taxes from Schedule 2!!
The app adds additional taxes (1040 Line 17 from Schedule 2) AFTER non-refundable credits like the child tax credit (1040 Line 19) have been deducted, which can leave a portion of the non-refundable child tax credit unused, that could have offset the additional taxes from Schedule 2. Form 1040 deducts the child tax credit after all additional taxes from Schedule 2 such as repayment of excess APTC received in Line 17 have been added to the regular tax from Line 16. Instead, the app only uses a portion of the credit to offset regular tax and the rest of the credit is lost, and then adds the additional Schedule 2 tax to your total tax liability AFTER credits, which is incorrect.
Show more
AVOID..broken..no tech support
Takes your money but no premium features and no apple refund. Unusable with adds. Developer does not respond nor fix the problem. Apple does not refund.
Error on Senior deduction starting 2025
I’m a big fan of this app and I’ve been supporting it for years. But there is an error calculating the $6K senior deduction. When I fist select Over 65, the deductions are correct. But each time I select a data entry screen and return to the Home Screen, the deduction is increased by another $6K, even though I did not change any data field.
Show more
Can’t seem to get beyond ad minefield?
If it is free-Can’t seem to get beyond ad minefield? Unusable
Virus
As soon as I started inputting my data a pop-up appeared saying I had a virus.
Ez
I’m enjoying exploring the possibilities. Works well, makes sense..could use a little polish here and there.
Excellent tax estimator
Simple to use, powerful. A really nice app!
OBBB Senior Deduction Phase out isn’t working
The change for the new Senior Deduction of $6000 per tax payer 65+ isn’t working. The deduction is supposed to be reduced 6% per dollar over the threshold. If the MAGI for a MFJ couple, both 65, was $160,000, the deduction should be reduced by $600. The calculator is reducing the deduction by $9600. Can’t figure out what it’s doing.
I’ve been a satisfied user of this app for years. Hope this gets fixed soon
I’ve been a satisfied user of this app for years. Hope this gets fixed soon
Show more
Missing new 65 and older standard deduction.
Looks quite promising but it hasn’t yet been updated for the new senior standard deduction of $17750 plus temporary (until 2028) additional $6000 deduction for a total of $23750. Reduces taxes considerably which I manually calculated. Once they update it, if I remember, I will change to 5 stars.
Create app
Very quick data entry and reports. Reports can be emailed and printed out.
Excellent Tax Forecast tool
Requires only a few minutes to enter top level summary data to get a detailed tax forecast for a given year with all the supporting worksheet detail to understand it. Quickly identified a big problem in my detailed spreadsheet forecast that I was able to fix with a new subtable. Taxmode was available in November long before FreeTaxUSA and TurboTax in mid-January and take 1/10th the time for a decent result.
Show more
Excellent Tax forecast tool
on iPad data entry takes only a few minutes to get a detailed tax forecast and worksheets for 2023, 2024 and 2025. Each year can be saved under a different name and emailed to your computer for review and printing. Good help files.
I needed to anticipate large tax bills in 2024 and 2025 after fund sales but Freetaxusa and Turbotax are not functional until mid-January. This tool was available in November and has replaced them.
I needed to anticipate large tax bills in 2024 and 2025 after fund sales but Freetaxusa and Turbotax are not functional until mid-January. This tool was available in November and has replaced them.
Show more
Great app with a caveat
Tax Mode is an easy to use and understand app. Data entry is easy and the “Pro” version is worth upgrading to so that tax scenarios can be saved.
There is only one piece of functionality missing: the ability to estimate state income tax. To be fair, most apps such as Tax Mode don’t include state tax estimates but doing so would be a powerful differentiator when compared to other apps.
There is only one piece of functionality missing: the ability to estimate state income tax. To be fair, most apps such as Tax Mode don’t include state tax estimates but doing so would be a powerful differentiator when compared to other apps.
Show more
Good and easy to use but could add some features
I have used this app for 2 years. It does miss some categories like Roth conversions and charitable donations. I just use one of the given categories to capture these items. Some user defined categories would also be helpful.
File won’t save on iPhone
The file will not save on iPhone. You save the file and when you go to open next time files are not there
CPA
All good!
A bug?
If I enter 90,000 for earned income and select Joint I get a higher tax estimate than when I add a capital gain of 10,000 (for a gross of $100k).
Eduardo R Chavez
Excelente
Great for planning and doubling checking
I like TaxMode because I can use it all year long for planning because it is fast and easy to use. I like the Full Mode. I also find it to be a very useful “double check” before I efile my Federal Income tax return, which is done with a different app.
Big error with AMT
Don’t rely on this app if you have any significant amount of LTCG. I’ve been a big fan of this app, but currently there is a big error in how AMT is calculated. Basically it says I owe AMT on my LTCG. I’ve emailed support about the specific line in error. I even detailed when the IRS form changed, but I’ve received no reply. 🤷♂️
Show more
