How to Transfer Previous Tax Years Into TurboTax
When the tax return is prepared for the current year generally it is necessary to review previous year’s tax returns, documents or worksheets for verification of the transactions. TurboTax provides taxpayer free service to prepare a simple tax return. There is one feature of the TurboTax which allows taxpayers to transfer the previous year data and there is no need to retype the data. Tips are given here on how you can transfer previous Tax years into TurboTax as mention below:
- With the use of TurboTax transferring information or data from previous year to next year is very easy and accurate task.
- First of all you before transferring or importing data from the previous tax year you should create and name your TurboTax file for a current tax year and save it to appropriate folder as to access easily.
- Thereafter find out the data of previous tax year which have already associated with tax file by selecting the option of ‘Tax History Report’ from TurboTax’s Tools. If you want to check the status of your past year returns you can repeat this step again as mention here.
- Search the previous tax year files on your computer and select the option of ‘Transfer’ from the File menu of the TurboTax. Now you can start a process of transferring.
- Thereafter you should pull down the Files of Type menu to specify the tax return preparation is made with TurboTax, TaxAct, TaxCut or another tax preparation programme.
- At the end, you should check the appropriate data folders and check the transfer data of previous tax year into your current year return file.
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