Turbo Tax and BRRR Strategy

[Hassan Oukacha]

Is it feasible to use TurboTax to file tax if you have rental properties acquired using BRRR strategy; which consists of using hard money to acquire a property, rehab it and then refinance it.

If you’ve used this software, do you mind share the process followed in filing tax!

Thank you

[Ashish Acharya]

Originally posted by @Hassan Oukacha:

Is it feasible to use TurboTax to file tax if you have rental properties acquired using BRRR strategy; which consists of using hard money to acquire a property, rehab it and then refinance it.

If you’ve used this software, do you mind share the process followed in filing tax!

Thank you

 Yes, the software is not the issue. Issue is do taxpayers know what needs to be done? 
I see people amortizing both loan costs (from hard money and refinance), when one of them can be written off the same year for more deductions. They mostly get the basis wrong for the depreciation and such.