Need professional tax software for personal return with multiple K1s - TurboTax can't handle it

Thanks for the recommendations! Do these professional tax programs allow individual non-accountants to purchase them? I heard some require proof you're a tax professional. Also, do any offer trial versions or demos before dropping hundreds on software?

Most professional tax software companies will sell to individuals, though some may ask questions about your tax preparation background. They're primarily designed for preparers, but there's no formal certification requirement to purchase. As for trials, Drake Tax offers a free demo version you can download from their website that lets you prepare sample returns. UltraTax and Lacerte typically provide live demonstrations rather than trial versions, but if you call their sales teams and explain your situation, they sometimes provide limited-time access to evaluate the software.

How does taxr.ai handle the actual filing? Does it just help organize everything or does it actually prepare the full return? My main issue is getting everything correctly onto the right forms.

I'm interested but suspicious. Is this just another glorified document scanner, or does it actually understand the complex allocation rules and basis calculations for private equity K1s? Those passive loss limitations and at-risk rules are what TurboTax keeps messing up for me.

It doesn't actually file your return, but it organizes all your K1 data properly so you can enter it correctly into whatever software you choose. It extracts every detail from each K1 and highlights where things need special attention. The system definitely understands complex allocation rules and basis calculations - that's its strength. It correctly identified my passive activity limitations and tracked my at-risk amounts across multiple years of investments. It even generated worksheets showing how it calculated everything, which was super helpful for tax planning.

Wait, does this actually work? The IRS phone system is notorious for being impossible. I've literally tried calling for three days straight and never got through. What kind of wait time did you have with this service?

This sounds like a scam honestly. The IRS agents I've spoken to barely understand basic tax issues, let alone complex K1 reporting from private equity investments. I seriously doubt they'd provide better guidance than professional software.

It absolutely works! Instead of waiting on hold for hours, they call you when an IRS agent is available. My total wait was about 45 minutes instead of the 3+ hours I tried before giving up previously. The key is knowing what department to ask for. I specifically requested to speak with someone in the pass-through entity division who handles partnership returns. Not every agent is knowledgeable about K1 issues, but they transferred me to someone who actually understood complex partnership allocations and gave me specific guidance on reporting requirements.

Does ProSeries have decent support if you get stuck? I'm worried about spending that much on software and then having no help when I inevitably hit a roadblock with some obscure K1 code.

ProSeries has surprisingly good support, especially for K1 issues. They offer both chat and phone support, and I've found their tax experts actually understand complex investment scenarios. Unlike TurboTax support where I got generic answers from people reading scripts, ProSeries connects you with people who seem to have actual tax backgrounds. The software also has built-in diagnostic tools that flag potential issues with your K1 entries and suggest corrections, which has helped me avoid several potential mistakes.

Thanks for the suggestion! ATX wasn't on my radar. How does it handle basis calculations year-over-year? That's been my biggest headache with TurboTax - it doesn't seem to track my basis in these partnerships correctly from one year to the next.