Turbo Tax Users in Real Estate Investing 1031's DST's and holds

[Buddy Holmes]

Call me what you may, I like doing my Taxes on Turbo Tax (TT) so that I can do tax planning and what if's.  OK I am a retired engineer but my slide rule has been packed away.

I would very much like to find an experienced REI CPA who can use Turbo Tax(TT) as well as their professional software. Ideally I would happily pay for tax planning and filing reviews if I could just pass them my TT file back and forth.

I think I have correctly gone through a 1031 exchange in 2016. I spent an hour with a CPA who was able to give me good advise but unable to comment on correctness with out spending many hours feeding my data into their own software.

In 2017 I plan a 1031 exchange into DST's which I anticipate several Schedule E's and supplied Cost Segregation Analysis information with multiple depreciation schedules starting each tax year.

Anyone with experience with these issues?

[Steven Hamilton II]

I completely agree with @Taylor Brugna,

1. I wouldn't waste my time.

2.  Not this late in tax season.

3. If I prepare part of your tax return, I'd be required under Circular 230 to sign the tax return and frankly I wouldn't sign it having not prepared the whole thing. I will say I get a TON of audit work from Turbo Tax users. 

4. During tax season the only way I'd REVIEW the entry on an item would be at a very high hourly rate. Chances are the cost to review it would be higher than the cost to prepare it. I'm not a doctor but I did stay at a Holiday Inn Express last night.

I work with these issues exclusively. My client base consists entirely of real estate investors. What you don't know does hurt you.