TurboTax for filing with rentals & W2

Natrona Heights, PA · Member since 2016 · 36 posts · 16 votes

Has anyone used TurboTax for filing their taxes while owning rental properties, managed by property management, and having a W2 job?

As a traveling physical therapist, it's nice to have digital tax filing but I don't know if TurboTax CPAs are good enough with real estate to handle depreciation and all the benefits you may receive as an investor. I also have an LLC and a series LLC.

Does anyone know if TurboTax can handle all of this? I saw they have a real estate/business investor program so I though maybe. Thank you so much for any and all help!

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Taylor L.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
4y
I love having a CPA handle this for me. The time and aggravation I save alone is worth the money. Think about your time in $/hr - what do you charge a client for your PT services? Now apply that same rate to the amount of time it'll take you to do your taxes. Odds are you're undervaluing your time by doing it yourself, and would actually come out ahead by paying a professional.
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Daniel HymanBusiness Member
CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
4y
@Phillip Scalise
There are several CPA's here on the forums that work with investors remotely. You can have a tax professional and work with them virtually - the best of both worlds!
My Online Accountant572 Reviews
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Phillip Scalise
OP
Natrona Heights, PA · Member since 2016 · 36 posts · 16 votes
4y
Thank you both. I love Tom Wheelwright, writer or Tax Free Wealth, as he seems very on top of everything dealing with taxes, however, their buy in fee is outrageous so it seems hard to find a CPA as good and passionate about this field for a reasonable price. Thanks for the info from both of you. Hopeful to find the right fit!
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