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Updated almost 2 years ago,
Help! I have a tax bill and not a refund for the first time!
I'm not sure if I've succeeded or failed.
This is my 8th year using TurboTax. I put in the Schedule E's for my two completely-owned properties and for my mortgaged property. I put in my W2 and my wife's W2. The software was reviewing and asked me to uncheck a box. All of a sudden, what was looking like an $8,000 return became a $4500 bill.
The team of me and TurboTax has never turned up such a substantial loss before. Have I succeeded because we made enough extra money to have to pay this tax, or failed because I'm paying tax that neither me nor TurboTax knows how to avoid?
Naturally, there's $4500 on the line here so I have to ask if there's something I can be doing better. If you are a tax professional I will definitely pay you some of the money you can save me.
Can you help?