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Rental property on 2015 tax return

Posted on 1/25/16 at 7:37 pm
Posted by ZekeTheTeke
Member since Sep 2014
1242 posts
Posted on 1/25/16 at 7:37 pm
I've looked through similar threads, but didn't see this addressed. Our tax return should be pretty straightforward except this will be the first year my wife and I will be dealing with a rental property on our tax form. Should TurboTax suffice or should we see a CPA?
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10246 posts
Posted on 1/25/16 at 7:42 pm to
You can do it yourself. I find it difficult to determine which depreciation schedules, etc. to use. So I don't do it myself. I pay someone to do it for me, and to go in front of the IRS with me should that ever become necessary again.
Posted by StringedInstruments
Member since Oct 2013
18550 posts
Posted on 1/25/16 at 8:07 pm to
TurboTax Premier was enough for me last year. It was my first year with a rental property as well.

I do worry a bit about the depreciation schedule, but I'll just try to do the research ahead of time.
This post was edited on 1/25/16 at 8:08 pm
Posted by Oenophile Brah
The Edge of Sanity
Member since Jan 2013
7544 posts
Posted on 1/26/16 at 8:56 am to
I used a CPA my first 2 years with my rental, but I'm planning on using TT this year. I wanted the CPA's guidance to feel comfortable doing it myself.
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