- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Rental property on 2015 tax return
Posted on 1/25/16 at 7:37 pm
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?
3
Posted on 1/25/16 at 7:42 pm to ZekeTheTeke
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 on 1/25/16 at 8:07 pm to ZekeTheTeke
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.
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 on 1/25/16 at 9:26 pm to StringedInstruments
Once you do the first year, TT is good about keeping it all straight every year, cumulatively.
Posted on 1/26/16 at 1:08 am to McLemore
I'm admittedly pretty ignorant when it comes to taxes, but I think I'll try and do TurboTax this year. Its pretty user friendly and I should be able to get someone to walk me through the depreciation schedule.
Posted on 1/26/16 at 8:56 am to ZekeTheTeke
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.
Posted on 1/27/16 at 8:15 am to Oenophile Brah
first year w/ rental property too, any tips on taxes would be greatly appreciated.
Posted on 1/27/16 at 9:41 am to redstick225
keep all of your home depot receipts
Posted on 1/27/16 at 11:14 am to redstick225
As mentioned, keep your receipts.
I also started using Mint.com to itemize purchases that are for the home. I think Mint is useful in tracking certain purchases.
I also use an excel rental spreadsheet to track my regular rental expenses. You can usually find a template online.
I also started using Mint.com to itemize purchases that are for the home. I think Mint is useful in tracking certain purchases.
I also use an excel rental spreadsheet to track my regular rental expenses. You can usually find a template online.
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News