Using TurboTax with real estate

[Dror Brumer]

Hi all , 

I used to do my taxes with Turbotax - I bought 2 properties and wondering if anyone is using Turbotax or other tool to create the yearly tax report?

Does Turbotax support depreciation and other options in real estate 

Thanks 

Dror

[Basit Siddiqi]

In theory, a software like turbotax can do a tax return so long as you get the correct version.

The more complicated your return, the higher version of the software that you need.

I think turbotax is great if you have a simple tax return.
I.E. W-2 with a few amount of interest / dividend accounts.

However, I think once you have rentals, I think it is better to work with a professional.
The thing with turbotax, is that the quality of the return is based on your understanding of the answers to the questions that they ask.
Sometimes, people do not understand the question.
Furthermore, while working with a professional, you can ask him / her questions throughout the year which are more geared towards tax planning.