It is very important to know how to backup TurboTax. TurboTax is a popular tax preparation software. It is a general suggestion to keep tax returns for three years from the date the return is filed or the date the return is due, whichever is later. There are circumstances when information may need to be retained for a longer period of time. Backing up information is TurboTax is relatively easy and does not take a lot of time.
- Open your return in TurboTax. Choose "Save As" from the "File" menu.
- Browse to the location where you would like to save the file (hard drive, cd, etc.). Please remember the location in order to access the return later. Always save important files in places where they can be easily found instead of obscure folders on the computer.
- Enter a name that will distinguish the backup from the original file. For example, the file could be named "backuptaxreturn".
- Click "Save" and then close TurboTax. Make sure to save the new file.
- Try to reopen the file. It is better to find out now if the backup file works. Always try to open the new TurboTax backup file to make sure that it opens without an error. If it does not open, delete the backup file and start the process again.
It may be a good idea to backup TurboTax using more than one media. For example, save a backup copy to a hard drive and save a copy to a cd. Information contained in tax returns may be needed when applying for loans, financial aid, etc. It is very important to have this information readily available when needed.
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