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TURBOTAX ONLINE BANKING HELP

TurboTax Online Banking (TTOB) enables you to log on to online TurboTax from Internet Banking and greatly reduces the data you have to enter to complete your tax returns.

Getting Started

With TurboTax Online Banking you can:

  • Complete your tax forms within the trusted environment of online banking
  • Get your information transferred from online banking directly into TurboTax, reducing data entry
  • Deposit your refund directly into an online banking account so you have quicker access to it
  • Get your refund in as few as eight days when using the efile feature along with direct deposit

Discovering TTOB

TurboTax Online access points will be available throughout the online banking system (at login, Account Summary, etc.) to help you discover TTOB. In most cases, TTOB will be available as a main navigation tab.

Landing Page

The TTOB landing page content will vary depending on whether you are not yet a TTOB user, have previously accessed online TurboTax but didn't file your return for that year, or you have already filed a return for the current tax year.

Each of these will be described in greater detail below.

New User - A new user will see a landing page with several tabs that provide a wide variety of product information, a Get Started button, as well as a link for returning TTO customers (individuals who have used TurboTax Online in the past).

Returning User - If you started your return using TurboTax through your bank website for the current year but didn't finish it, you'll see a landing page with a Continue My Return button. There is also a graph and percentage indicator which show how far along you are in the process of filing your return. The system saved everything that you did so you can continue right where you left off.

Completed User - After finishing your taxes, you will see a graph and checkmark on the TTOB landing page indicating that your tax return was successfully filed. You can use the Go To TurboTaxbutton at any time to check the status of your return or to print or download copies for your records. If eFile was used, you can typically check back in a few days to confirm that your return was accepted by the IRS.

 

Completing Your Tax Return

After you have entered or reviewed all of your tax data, clicking the Continue button in the Print & Efile tab will finish the tax preparation process. At that point you can review the forms and edit anything if needed, then elect to either eFile or print and mail your return.

When you navigate to the TurboTax for Online Banking landing page after filing your Federal return, the landing page will display a green checkmark under the TurboTax logo, along with a graphic indicator that shows the process is complete. You can click the Go to Turbotax button any time to access the TurboTax Online application and check the status of your return.

NOTE: If the return was submitted via eFile, you should have been prompted to check back in a few days to view the status of your return: Accepted or Rejected. If your return was rejected for some reason, TTO will walk you through the process of finding, fixing and resubmitting the return; otherwise TTO will advise you what the next step is.

After Your Tax Return has been Submitted

When you navigate to the TurboTax Online Banking landing page after your Federal return has been submitted, the landing page will display a green checkmark under the TurboTax logo, along with a graphic indicator that shows the process is complete.

You can click the Go to Turbotax button any time to access the TurboTax Online application and check the status of your return or print or download copies for your records.

New TTOB User

The TurboTax Online landing page for new users provides a number of tabs that describe what the product is, how it works and the benefits of using it. Clicking the Get started button displays the Product Selection page where you can decide which version of TurboTax is best for you: Free, Deluxe, Premier, or Home & Business.

NOTE: There is also a link that can be selected if you are a returning TurboTax customer (i.e., you have used TurboTax Online in the past) that answers questions like, will all of my tax data be there?

1. Landing Page

The landing page defaults to the Step by Step Guidance tab but several other tabs are available, as described below.

  • Biggest Refund - The product covers over 350 deductions and some versions search you return to locate any deductions that may have been missed. Some versions offer ItsDeductible that sets the real value for any donated item and simplifies the process of logging any medical expenses.
  • Safe & Secure - TurboTax Online uses a combination of encryption technology with firewall protected servers to protect your user's financial data.
  • Guaranteed Accurate - TurboTax Online does all of the math for you and guarantees its accuracy. In the unlikely event of an audit, TurboTax pays the penalty and any interest incurred.
  • Easy & Convenient - Your personal and financial data is imported automatically and can be reviewed and edited as needed so your return can be completed quickly and accurately.
 

2. Product Selection

Clicking the Get Started button on the landing page displays a product selection feature so you can determine which version of TurboTax is best for you: Free, Deluxe, Premier, or Home & Business. One of the TurboTax products may be flagged as 'Recommended' for you.

Each product has a brief description and either a Start Now (Free edition) or Start for Free (all others) button that can be selected to get the process going. However you can click the Learn more link for any of the products to view additional information.

Clicking the Help me choose link opens a pop-up window that has over a dozen statements with checkboxes that hopefully describe you (e.g., I own a home, I have childcare or medical expenses, I'm self-employed, I sold stocks, etc.). Select everything that describes you and click the Submit button.

Depending on which checkboxes you selected, the system will suggest the product best matches your needs and provides a Start button and Learn more link right there in the pop-up window. Within the product informational spot you can read about that product's features. You can either click the Start for Free button to select the recommended product or click the Back to Turbotax products page link to do additional product research.

The TurboTax options are briefly described below and free Federal efiling is included for every option.

  • Free: For a simple tax return, TurboTax Free Edition is the easiest way to complete the taxes and get the maximum tax refund. Please be aware that the Free edition only applies to the 1040EZ, 1040A and 1040. If you need to submit additional forms (e.g., Schedule C or D) you should consider one of the other versions that are available.
  • Deluxe: If you are a home owner who has made donations, pay child care or have medical expenses, TurboTax Deluxe will comb through over 350 possible deductions and target every one that applies.
  • Premier: For someone who owns stocks, bonds, mutual funds or has rental properties, TurboTax Premier best utilizes the various forms that are required for a wide range of investments.
  • Home & Business: For someone who is a sole proprietor, consultant, contractor or single-owner LLC, TurboTax Home & Business will navigate the complexities involved with small business ownership and target the biggest tax savings.

NOTE: You also have the option of downloading the desktop version of TurboTax to your computer by clicking the link that is provided near the bottom of the page.

 

Selecting a product on the product selector page opens the new or returning user pop-up. Please note that this action will only need to be taken once, meaning that after you have identified yourself as a new or returning TurboTax user it will not have to be done again. If needed, you can click the links to view the Terms and Conditions and Consent to Populate information.

You have to select the Terms and Conditions checkbox to activate the Continue button and access TurboTax Online. However, use of the Consent to Populate checkbox is optional and is offered as a convenience to quickly import your personal and financial data into TurboTax Online. Continue button to access TurboTax Online.

Using TurboTax Online

In all of the TurboTax Online (TTO) editions you will see the TTO home page tab with two indicators at the top that display your estimated Federal and State refunds. You will also see your personal tax information displayed along with helpful links that explain the tax filing process and address any questions or concerns you might have.

A Tools button is also available that accesses an array of functions that help with the tax preparation details: Print Return, View Past Returns, Fee Summary, etc.

Additional support options can be found in the left column through a chat feature Ask Tina a Question; otherwise you can type a question and send to the entire TurboTax user community by clicking the Ask The Community button. Or if needed, you have the option of speaking to a live tax expert by clicking the Ask a Real Live Tax Pro button.

Home tab

There's a series of tabs near the top of the page that track the tax filing process from beginning to end. Starting on the Home tab, when you click the Continue button the next tab will open, and so on until you have finished: Home --> Personal Info --> Federal Taxes --> Federal Review --> State Taxes --> Print & eFile. In the last step, when the taxes are ready for submission, you have the choice to either Efile or Print your return.

NOTE: At any point in the process, you can click the Sign Out link. TTOB will prompt you to save the data that's been imported or entered thus far. And you can continue right where you left off the next time you access TTOB.

 

Federal Taxes tab

Once you review your information on the Personal Info tab, clicking the Continue button opens the Federal Taxes tab. The Federal Taxes tab displays financial information from the following forms, if your financial information supports the form.

 
  • 1099-INT (Interest income)
  • 1099-DIV (Dividend income)

    TTO searches for the above forms within the financial institution's database and then imports all data from the forms that apply to you. You can then review the financial data that was imported from your financial institution.

As it states on the screen, you can uncheck any items that no longer apply for that tax year or to remove any items that are duplicates. The system supplies N/A if the data is not available.

When you have finished reviewing the data, just click the Continue button to open the Federal Review tab, or if needed, you can always click the Back button to return to the previous tab.

Print & Efile tab

Clicking Continue on the State Taxes tab opens the Print & Efile tab. This is where you decide what to do with your Federal refund. Clicking the Continue button should finish the tax preparation process. You can review the forms and edit anything if needed, then you can either eFile or print and mail your return. The only exception to this is if you choose to split their refund (see Split Refund below).

You have several options for handling your refund:

  • Direct Deposit into a bank account - Just select the radio button for the account you want the refund directly deposited to at your host financial institution. This is the recommended option.
  • Mail a Check - You can opt to have the refund check mailed to your primary mailing address that is on file at the financial institution.
  • Deposit with another financial institution - You also have the option of depositing the refund at another financial institution of your choice.
  • Split the refund between more than one account - Selecting this option opens another window where you can specify what amount of the refund will go to which accounts. (See Split Refund below).
 

Split Refund

When you select the checkbox for I would like to split my refund in to more than one account and click the Continue button, a window is opened where you can specify how the refund should be split and where the amounts should be deposited.

Your primary and other accounts from the host financial institution display the current account information by default. The only thing you need to do is enter is the dollar amount that should be deposited in each account.

If an amount is to be deposited with a different financial institution, you will need to select the type of account and enter the name of the bank, the routing number, account number and dollar amount to be deposited. A look up link is provided for the Routing Number.

When finished, just click the Continue button. Clicking the Continue button finishes the tax preparation process. You can review all of the forms and edit any data as needed, then either eFile or print and mail your return.

Continuing Your Tax Return

There may be occasions when you have to suspend the entry of their tax data to gather additional information and complete the return later. When you click the Sign Out link the system will prompt you to save all of the date that's been imported or entered up to that point.

When you navigate to TTOB landing page and click the Continue my return button, TurboTax Online Banking lets you start right where you left off.

TurboTax Online will open to the home page tab and the user can complete any outstanding tasks within TTO before filing your return. Please refer to the Turbo Tax Online section for additional details.

Completing Your Tax Return

After you have entered or reviewed all of your tax data, clicking the Continue button in the Print & Efile tab will finish the tax preparation process. At that point you can review the forms and edit anything if needed, then elect to either eFile or print and mail your return.

When you navigate to the TurboTax for Online Banking landing page after filing your Federal return, the landing page will display a green checkmark under the TurboTax logo, along with a graphic indicator that shows the process is complete.

You can click the Go to Turbotax button any time to access the TurboTax Online application and check the status of your return.

NOTE: If the return was submitted via eFile, you should have been prompted to check back in a few days to view the status of your return: Accepted or Rejected. If your return was rejected for some reason, TTO will walk you through the process of finding, fixing and resubmitting the return; otherwise TTO will advise you what the next step is.

After Your Tax Return has been Submitted

When you navigate to the TurboTax Online Banking landing page after your Federal return has been submitted, the landing page will display a green checkmark under the TurboTax logo, along with a graphic indicator that shows the process is complete.

You can click the Go to Turbotax button any time to access the TurboTax Online application and check the status of your return or print or download copies for your records.

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