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Friend of Warren
Join Date: Oct 2000
Location: Lincoln, NE
Posts: 16,484
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Turbo Tax and Rental Property
Any of you with rental property using turbo tax? Does it allow for entries to show expenses for property repair and upkeep? Easy to use? Thanks!
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Kurt V No more Porsches, but a revolving number of motorcycles. |
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02-02-2007, 06:21 AM
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Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
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I use it. It's great. Very easy to use, as well.
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02-02-2007, 06:24 AM
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Friend of Warren
Join Date: Oct 2000
Location: Lincoln, NE
Posts: 16,484
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Quote:
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Kurt V No more Porsches, but a revolving number of motorcycles. |
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02-02-2007, 06:30 AM
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Registered
Join Date: Jul 2004
Location: Maryland
Posts: 31,419
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TT does rental property, including all costs associated with the property and property management.
I use the business version, but you really don't need to. You may want to get the deluxe version for the tutorials if this is your first time with rental property on your tax return. The program will suggest depriciation schedules, etc. based on your needs.
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1996 FJ80. |
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02-02-2007, 07:05 AM
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Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
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I use Home & Business, but I believe you can do rental properties on the lower versions. This is the second year with TurboTax. Last year was a little more work, because I had to enter all data for each rental. This year, it's easy, because all depreciation data is transferred to 2006.
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02-02-2007, 09:45 AM
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Friend of Warren
Join Date: Oct 2000
Location: Lincoln, NE
Posts: 16,484
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Thanks guys I'm off the the Office Depot to get Turbo Tax!
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Kurt V No more Porsches, but a revolving number of motorcycles. |
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02-02-2007, 10:10 AM
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