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Updated almost 4 years ago,

User Stats

15
Posts
5
Votes
Dustin Nygard
  • El Paso, Tx
5
Votes |
15
Posts

Filing taxes with a rental property in the back yard

Dustin Nygard
  • El Paso, Tx
Posted

Hi everyone. There are two houses on my property. The main house is 1600 sq ft that my family lives in and the house in the backyard is 800 sq ft and is rented out. We have put a lot of money into our property since buying it in 2019. Upgrades include redoing the roof on both houses. Laying down fake grass around both houses. Building car ports on both houses. I have always used turbo tax and filed myself but now that I have a more complex tax situation due to my current real-estate situation I was wondering about recommendations if I should continue with turbo tax or switch to a CPA. I believe some of the work done can be written off in my taxes but Turbo tax continues to tell me the standard deduction is the right one to do. I am not sure about that anymore. 

Thank you,

Dustin   

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