Is it acceptable to everyone else that PTO is asking us to calculate the interest outside of the program and enter it manually? Really? Are you kidding me?

[Daniel-Bengio--CPA]

I understood PTO was built on Lacerte's chassis (I would imagine Lacerte does calculate the interest).  It seems more like it is built on the Turbo Tax chassis!!

[itonewbie · Accepted solution]

PTO is not just built on the Lacerte chassis but actually uses the nuts and bolts and the same engine.  However, it does not come with all the bells and whistles for the price, so you will need to live with the lack of features and flexibility.

PTO pretty much runs the same calculations that Lacerte does, although it may not provide as many options.  Federal interest calculation, unfortunately, is one where you will need to prepare the computation offline and plug it in.

TBH, I can't understand why Intuit would leave out such a simple logic for calculations than can easily be run on a spreadsheet, especially since it does compute state interest charges so long as you enter the interest rates and input 1 for automatic calculation.

[Daniel-Bengio--CPA]

I agree 100% with you.  That is what irked me, that it is a simple issue and they chose not to put it in.  If it was not intentional, it is a lack of professionalism and if it was intentional, it is malicious - in my humble opinion!

[IRonMaN]

"It seems more like it is built on the Turbo Tax chassis!!"

No, that would be ProSeries.

[sjrcpa]

@Daniel Bengio, CPA Yes Lacerte will compute the interest.

[abctax55]

I didn't realize PTO had that restriction....bummer.  Guess it falls under the "you get what you pay for"?

I'm pretty sure Drake does the interest computation; doesn't seem like adding it to PTO would be that difficult.

[Daniel-Bengio--CPA]

I agree! shouldn't be that difficult.

[abctax55]

There are *many* things (from a programming standpoint) that Intuit includes in one program but not the other (PS vs Lacerte vs PTO vs even TurdoTax).   IMHO, it's how they differentiate between the programs & justify the different software costs.  But, I could be wrong :joy:

[Daniel-Bengio--CPA]

So, in other words, Intuit will never have a complete package!! If true it would be a sad marketing strategy...

[abctax55]

Lacerte is very *complete* - and therefore the most expensive.
Without such differences, it would be difficult to justify the different price points (from a marketing standpoint).

[itonewbie]

"Guess it falls under the "you get what you pay for"?"

PTO is not so cheap anymore.  The rack rate is now $44.95 per 1040 / $56.45 per business return for 200-299 returns but up to $89.95 per 1040 / $112.45 per business return for those who need only up to 10 returns.  There is an early bird special right now but it will expire by the end of this month.

[Daniel-Bengio--CPA]

You're exactly right.  There are a number of fine programs (such as Drake or ATX) which are half the price and quite good.  They are not cloud based and maybe don't sync with QB as well, but in order to command these prices, they cannot afford to have such glaring omissions!! Speaking of the QB PTO sync, I was in disbelief when I could not find a tax line for Rental Income on a 1065 and an Intuit tech told me they had not completed all the Tax Lines.  Basically he was saying they but out a half baked product!!