I can't sign into my Turbo Tax account that I've used to file my taxes the past 2 years, and no matter what I've tried I can't reset the password. I have given up. Is it problematic to just create a new account, or should I just go ahead and do it?
If you have no need for the information locked in the account, then creating a new account has little impact on you. But if the only copy of the previous years tax return is in that account then abandoning it is more problematic.
Many users of the software expect that the first step in the process is importing data from the previous years return. If you don't have access to the old data you will have to re-enter addresses, SSNs, and employer information. All of which takes time, and there is a risk of typos.
Hopefully if you didn't export data from the account at the end of last year, you at least have a PDF of all the old forms and worksheets, in case you need to refer to them in the future.
Having at least a PDF of the stuff you submitted, and the other worksheets, can be useful if you need to show proof of income for financial aid or a home mortgage. Sometimes they need to go back more than one year. For one job as federal contractor I needed to provide my AGI for the previous 5 years, which was easy to do with the PDFs. For another position before the affordable care act, I needed to submit several years of tax forms to prove that they were my dependents.
If the account is an online account, then having multiple accounts does mean that your key data is in multiple accounts online which may increase your exposure. It is possible the reason you can't get in and recover access is that somebody already got in and changed the password.
One outside possibility is that your TurboTax account has been hijacked, you've been locked out, and it will be used to submit a fake tax return. This could cause you innumerable headaches down the road, so it may be worthwhile to contact Intuit's technical support and get your account reset.
If this turns out to be hard because all your contact info and security questions have been changed, then the chance that your account has been hijacked goes way up, and you should contact the IRS to make sure someone doesn't use that account to submit bogus tax returns under your name.