I experienced a rude awakening when recently completing my taxes for 2010. The entire past year, I have been noticing announcements on the Mint.com website that Mint & TurboTax had teamed up. Heck, they are both owned by Intuit. So, teamed up, owned by the same company – forgive me, but I assumed that you would be able to import transactions tagged a certain way into that specific area within TurboTax.
But it turns out that is not the case. The two finance solutions don’t talk to each other. I had spent the last year notating and tagging every transaction for easy importation into TurboTax. But you can’t import relevant information from Mint into TurboTax.
I mean, how hard is this? Every blog program uses a system of tags so that you can easily find blogs about certain topics. Why can’t my tags in Mint act as the same way? Why can’t I pull up all transactions I so diligently tagged as ‘Tax Deductible’ throughout the year and import those into TurboTax? Why can’t I pull up all transactions tagged as ‘Mortgage’ related for that particular section?
In my mind, this amounts to false advertising. I’ve checked out a few other comments online and I’m not the only one who assumed by the advertising that TurboTax and Mint would be able to talk to each other. Not true.
To be fair, being diligent with my finances in Mint did allow me to pull transactions tagged under certain topics. But, I used to keep good records in Excel and could have done the same thing that way.
I do think (or at least hope) future versions of Mint and TurboTax can talk to each other. It would make tax season truly easier, as they so ardently advertise.