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Old 01-24-2017, 02:30 PM
 
97 posts, read 115,334 times
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We purchased our first home in mid-November of 2016. I have always done our taxes myself through turbo-tax, but I am wondering if it would be worth it to pay someone this time since we bought a house? Is there anything an account may be able to do to get us more money than turbo-tax? I can handle putting in the interest paid. But are there any NC first time home buyer write offs or anything like that which I may not be aware of and wouldn't get through turbo-tax?

Thanks!
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Old 01-24-2017, 02:46 PM
 
Location: Cary, NC
43,299 posts, read 77,142,685 times
Reputation: 45659
Quote:
Originally Posted by Gin257 View Post
We purchased our first home in mid-November of 2016. I have always done our taxes myself through turbo-tax, but I am wondering if it would be worth it to pay someone this time since we bought a house? Is there anything an account may be able to do to get us more money than turbo-tax? I can handle putting in the interest paid. But are there any NC first time home buyer write offs or anything like that which I may not be aware of and wouldn't get through turbo-tax?

Thanks!
TurboTax is pretty good at walking you through the Fed and State returns and available deductions and credits.

I would suggest going through it and if not happy, have a professional tax preparer look at your stuff.
But, unless you have really complicated things, I would think you would be all right.

My wife is a corporate accountant and former CPA/tax accountant and loves TurboTax.
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Old 01-24-2017, 03:02 PM
 
16,421 posts, read 12,515,078 times
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That sounds like something standard enough that TurboTax would pick up any applicable writeoffs.
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Old 01-24-2017, 03:20 PM
 
Location: Raleigh, NC
19,441 posts, read 27,844,220 times
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I'm an ex accountant. You can certainly use TurboTax.
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Old 01-24-2017, 03:55 PM
 
Location: Raleigh
650 posts, read 930,122 times
Reputation: 764
Quote:
Originally Posted by Gin257 View Post
We purchased our first home in mid-November of 2016. I have always done our taxes myself through turbo-tax, but I am wondering if it would be worth it to pay someone this time since we bought a house? Is there anything an account may be able to do to get us more money than turbo-tax? I can handle putting in the interest paid. But are there any NC first time home buyer write offs or anything like that which I may not be aware of and wouldn't get through turbo-tax?

Thanks!
I am like you. I did Turbo tax and first ones to do electronic filing. Then I got married and a house. I still did our taxes. Then the wife browbeat me to go to H&R to see if they could do better. Half way thru the interview the guy looked me straight in the eyes and asked " Why are you even here? You will be fine by yourself.
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Old 01-24-2017, 04:39 PM
 
Location: NC
3,444 posts, read 2,820,038 times
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Turbo Tax is good. I've used it for years as a homeowner and a W2 employee who is also self employed.
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Old 01-24-2017, 05:39 PM
 
425 posts, read 462,920 times
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I agree with the others, shouldn't be an issue with doing it yourself. If you do decide to go see a professional, go see an actual professional, not one of the store fronts full of tax "preparers" who just went to a couple of evening classes, and is now somehow considered a tax professional. You are for all intensive purposes, paying someone with almost no more knowledge than you to type your info into a Turbo Tax type software system.
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Old 01-24-2017, 06:19 PM
 
Location: Research Triangle Area, NC
6,380 posts, read 5,498,068 times
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To follow up with this question...do you need to request any particular forms to receive first-time homebuyer tax credit to file with turbo tax? I assume I'd get something from my mortgage company? My W-2 came today and my student loans were paid off this year so o assume I won't get a 1080.
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Old 01-24-2017, 07:37 PM
 
9,265 posts, read 8,274,997 times
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I don't understand the "see if they can do better" theory. Most people's returns are pretty standard, even with a house. How do these places "do better"?
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Old 01-25-2017, 06:35 AM
 
6,799 posts, read 7,384,076 times
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Quote:
Originally Posted by TarHeelNick View Post
To follow up with this question...do you need to request any particular forms to receive first-time homebuyer tax credit to file with turbo tax? I assume I'd get something from my mortgage company? My W-2 came today and my student loans were paid off this year so o assume I won't get a 1080.

First time home buyer tax credits went away after 2010.
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