Is Turbo tax solid to use w rental property income? I only have 1 - was a first time home buy for primary residence, converted to rental when I moved for career (rent primary residence now)

like
Posting as :
works at
You are currently posting as works at

I've used it for a decade for 2 properties. Easy

like

Do you use a specific package like deluxe? Or just basic?

like

Start with the end in mind. Get a CPA that works with other real estate investors. They do more than just prep your taxes, but also can advise you on decisions, their impact on your taxes, and how you can minimize you tax liability.

like

I've used freetaxusa and have 2 rental properties and a fair amount of stock trading.
The main reason I used freetaxusa over TurboTax is it found me the same refund but cost significantly less

like

If you’re eventually going to go the CPA route, do it earlier than later. TurboTax is really for those for just w-2 income and maybe 1-3 properties. It starts getting complex over time

like

Agree do it early. Most firms will pay for it if you pass in first 12 months after hire plus give you a bonus.

Freetaxusa does it too I think

Related Posts

The wife, baby and I are moving to Greenville SC in the spring.

Would love to hear anyone’s experiences about the city and where you’d suggest we start our house search!

like

TC New grad Software Engineer
Base: $110k
Sign-On: $35k
RSU: $120k/3years
Relocation: $20k

Starting fresh with virtually $0 savings and $0 worth of financial literacy, whats the best course of action? any advice is greatly appreciated!

like

Do big4s have any history of offering early retirement packages?

Anyone else catch Tesla today? After months of no trading and waiting for the right time I had 10 700c I bought Friday at $695 a piece and exited at 4K a piece for a profit of 33K. Time to stay composed and wait for the next high conviction setup

like

Anybody here make significant weekly/monthly passive income off Covered Calls and/or selling puts? Looking for success/failure stories for those who have tried this!

like

How diligent is Mintz background check. When it comes to education? My references, credit, criminal and work experiences will check out. However said I already graduated school when I am in reality a month away from graduating. The company sent over the contract and start date at the same time as the background check.

like

Catch BPCL Rs.58 dividend with record date of 16th September

like

150K in Singapore, and $150K in Chicago. Which one would you accept?

like

Investment gurus - Appreciate pointers for resources (books, blogs, videos etc.) to read up on investment strategies. Just getting started and could use all the help. 🙏

like

Has anyone dealt with Peachtree Residential before? They build homes primarily in Atlanta and Charlotte.

like

How many policies a month do you sell?

“It turns out that wealth does trickle down, you just have to make them bleed first”

I guess they didn’t like bleeding so they’re trying to manipulate the markets in their favor AGAIN.

Post Photo
like

If I had a traditional IRA before being employed in a 401k eligible role, can / must I roll that IRA into the 401k or can I leave the accounts separate without deleterious tax consequences?

like

Has anyone ever been locked out of trading on RH? Was wondering if anyone has been restricted/how long it took to get it resolved.

Post Photo
like

Watch out for $SDGR - Bill Gates backed recent IPO- potential next meme stock . No options yet.

like

I am trying to justify house buying in HCOL city. The house cost is minimum 1.4m .monthly mortgage would be at least 7k(with just around 2k principal) rest goes to either int,tax. Not to mention regular house maintenance. How is it better than 3.5k rental. I understand appreciation and own house independence. But I am just trying to make numbers work.

like

Do we have tax calculator in tcs

like

Does 401k count as savings?

likefunny

I don't want to ask the Mck recruiter more questions. Can someone explain the differences in the Profit Sharing Retirement Plan and the Money Purchase Pension Plan? Does Mck contribute to both?

Hi everyone! Looking for some advice on my side hustle. I’m running an e-commerce store selling primarily home decor, and I wanted to get some honest feedback & suggestions on the site to see what I can improve for better conversions. I’ll leave the link in a comment for anyone who would like to take a look.

like

More Posts

like

London parents: What’s the best place to buy uniforms for girls? Would also be grateful for any tips for making it feel a bit less…well, uniform.

like

𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬 & 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬 𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫: Universal Reimagined Home Page Upgrade Coming to Preview & Production Instances 1H 2022 Release

Effective December, 2021, new instances by default are provisioned with the Latest (Reimagined) Home Page. 𝐏𝐥𝐞𝐚𝐬𝐞 𝐝𝐨 𝐧𝐨𝐭 𝐜𝐡𝐚𝐧𝐠𝐞 𝐭𝐡𝐞 𝐬𝐞𝐭𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐫𝐞𝐯𝐞𝐫𝐭 𝐭𝐨 𝐭𝐡𝐞 𝐋𝐞𝐠𝐚𝐜𝐲 𝐇𝐨𝐦𝐞 𝐏𝐚𝐠𝐞. Customers must also go live with the Latest Home Page.

#SAP #SuccessFactors #HomePage

Post Photo
like

Can anyone let me know about average salary at Morgan Stanley for analyst position given I have 2 years of experience. TIA

like

Hello fishes,
Can anyone help me with Max salary one can get for different designation like IT analyst, Assistant consultant,Associate consultant in TCS.

like

How is job security in NielsenIQ in recession time ? Please comment if any idea

Are there any online courses or resources that can help expand my knowledge of TV copyright information and anything more on the legal side of things? My internal video team is heavily leaned on for that type of info and do know a fair amount but I'd like to be more prepared all around. Google/tapping Producer friends is only relatively helpful.

We do have a lawyer that we can meet with but they're also not an expert and turnarounds are always very long so not as helpful as I'd hoped.

like

People who did ACCA after CA. What is the cost effective method to do ACCA from India. Does ACCA partners offer any subsidized subscription to Indian students? Or is there any benefit passed through Approved coaching centers. Also for Indian CA's whether doing ACCA as regular is better or professional pathway for CA professionals is better?

like

Hi Folks. Recently moved to Toronto. Would you have recommendations for dentists in the downtown area ? or a way to find recommendations/reviews for dentists around me? Looking to do a routine checkup/cleaning..

like

Anybody got a sibling who is obnoxiously cheap yet has a ton of money?

like

Is 108k base salary for a promotion to consultant in CMT - Oracle a low number?

like

Which Big 4 pays the highest salary Risk Advisory? What is the order 1-4?

like

Any recommendations for a mattress? Cheaper the better (although I’d love the Sheraton, I can’t afford $$$$)

like

Who else loves free slippers?

Post Photo
likesmart

My head is beginning to not hurt and that worries me. I am used to banging it against a wall the entire day (theoretically). I work with people that I struggle to communicate with and/or they are extremely uneducated about various things that I used to think were the basics. I grew up poor and paid for everything myself; Money drives me. Where do I even begin to look to know what I should be doing?Sales is too easy, I need a challenge. I am good at inventing solutions. Ideas?

like

I'm currently working as an electrical designer in the MEP industry. I really don't like it and I'm working towards a career change which I'm actively applying for and getting certified etc. However, it's been a slow process and I'm currently underpaid where I am so would it be wise to make a lateral move to another MEP firm simply because they offer me more money while I still look for a different job separate from this field? Or just tough it out?

If the layoff is not necessarily to go through performance improvement plan, then is there a standard dashboard look to evaluate ourselves about how close we are at?

likehelpful

I was just offered a CUNY role. The title is Higher Education Assistant. According to Glassdoor, the average annual pay for that role is $83,418. However, I was offered $62,500. I requested for the minimum annual salary to be 75k. Does anyone have experience navigating the CUNY system and their pay?

like

Plaintiffs PI attorneys, how many cases on average are you assigned to at any given time?

like

I have family visiting from overseas. As foreign nationals where can they get no-cost covid PCR test?

like

Additional Posts in The Real Estate Bowl

I have significant equity in a property (300k+) and maybe another 200k across other properties. I have a decent amount of money in cash and already 200k or so in stocks. Would you consider pulling money through cash out refi and using it? I get nervous for stocks being so high. I have a few properties in pipeline already. How would you suggest using it (if at all).

like

Are most new houses being built with induction cooktop? What has everyone experience been like? I personally had non compatible cookware with induction cooktop and wondering if I should just buy a new cooktop (electric, gas etc).. Other reason is that I read that it's also not healthy due to electromagnetic waves?

like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

Having trouble selling my (retired) dad's house. It needs a lot of work, but has great character. What if I buy it myself for a low, low price? Then I would be able to get a FHA 203k loan to do the updates. Rent it out or put it back on the market in the spring.

like

How much should I invest in buying a HOME as my primary residence.

Current TC: 200k
Net worth: 300k, readily available 170k in stocks, hysa and cash
Current rent: 2000 per month
Age: 30

Wonder if anyone has any excel model or a rule to determine how much I can afford or should go for?

like

Any investors in the woodlands Texas for single family homes, rent looks good as per Zillow , good school district and houses are still affordable compared to Dallas and Austin

like

4 years into RE. Happy with the results so far! Thinking I should take on more debt with current IR, but the market is too competitive

Post Photo
likeuplifting

UK - thinking of a buy to let in either Birmingham, Liverpool, Manchester - any recommendations on either /areas where you can get something under £140k.

like

Quoted a 30 year mortgage, 5% down for a ~600k home for 4% interest no points.

Profile: 250k salary, 800 credit score

Is this any good??

likefunny

Would you say Austin’s real estate market will go through a correction in 2022? I am considering there in a few months (wife and 3 kids) from a normal-priced city. While we can afford a house there, I am scared of getting into an extremely risky investment seeing such fast growing prices in 2021. I’ve read both bull and bear scenarios online and I’d like to get some “Bowl’s” thoughts. Thanks!

like

Hi guys! Looking to learn about real estate investing! I am a senior in college graduating with a degree in finance so I understand certain aspects, but am looking to learn more on my own about real estate specifically!

What books would you recommend I read?

like
like

Good evening all,
With my partner we are considering making a move to the countryside of Switzerland, with a gorgeous RE project offering incredible views on immaculate mountains and lake. However, it is far away, and will require 1h+ train/car commute vs. 10 min biking right now. We are scared it will bite us back at some point, although COVID helped w/ remote working being a new norm. The project will be done 2024, so I hope to have a more relax job by then. Any similar experience to share?

like

Looking to move out of California, and considering buying a townhome in Atlanta for ~$650k. Any thoughts on the Atlanta real estate market?

like

Does anyone have experience managing an out of state property yourself? Are there any tips/services you use?

like

Hey hey all. I am writing a book on value creation in commercial real estate - from site selection to tenant management basically capture where industry experts see value lost or opportunities not captured. Anyone want to contribute to some insights ?

like

What are the mortgage rates you guys are getting? Best I’ve heard is 2.5% (30year fixed) curious if anyone has heard better?

like

This is the thread to boast about a creative deal that you made by using leverage and/or collateral.

like

I thought the answer is yes but now double checking. Can we write off the interest we pay on our primary residence mortgage?

like

Hi - any good books recommendations for getting started on real estate investing?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal