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Old 01-16-2012, 08:06 PM
 
363 posts, read 744,734 times
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Debating on whether to do my own taxes online as I have for years, or hire someone to do them. I bought a home in 2011 (after the $8000 credit deadline) and want to make sure I get all the deductions and credits possible. Anything I might not catch on my own that others have experienced? Also DM me if you have a recommendation on who I should get to do them locally if I go that way (Big Firm vs Little Guy). Thanks!
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Old 01-16-2012, 08:41 PM
 
Location: San Antonio, TX
11,495 posts, read 26,733,345 times
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I thought my taxes would be too complicated to do after I bought a house. Then I called around and found out what the tax places wanted to charge and decided I could do them myself. I don't think there's much to catch, it may not make a difference if you don't have a lot of things to itemize.
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Old 01-16-2012, 08:43 PM
 
Location: United State of Texas
1,707 posts, read 6,192,721 times
Reputation: 2135
Turbotax will ask all of the necessary questions. Unless you have some really complicated tax issues, TT works well.
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Old 01-16-2012, 08:45 PM
 
Location: New Braunfels, TX
7,105 posts, read 11,746,447 times
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Yep - if all you have is standard deductions an' the house TT will do it just fine!!
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Old 01-16-2012, 09:25 PM
 
291 posts, read 605,393 times
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I agree turbo tax will work great
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Old 01-17-2012, 12:44 PM
 
Location: san antonio texas
1,803 posts, read 2,609,782 times
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turbo tax or tax act online will do everything you need.

/i file my small business taxes through tax act online.
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Old 01-17-2012, 02:33 PM
 
34 posts, read 71,069 times
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One more vote in favor of Turbotax being fine for this. I was a first time homebuyer during the tax credit. Even though I wanted to amend my old return to get the money earlier, Turbotax still walked me through everything and made it very easy. Just owning a home doesn't make it much more difficult to do your own taxes, just a few extra questions and you may be itemizing for the first time.
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Old 01-17-2012, 06:00 PM
 
487 posts, read 987,967 times
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Quote:
Originally Posted by DexterCat View Post
turbo tax or tax act online will do everything you need.

/i file my small business taxes through tax act online.
I second DC's recommendations. I have used both TurboTax and TAxAct in the past and never had a problem. I have a rental, have sold and bough houses a couple times and have a lot of itemized deductions and they get all. If you have the time, you can fill everything for free with both services and see what you get and then file with the cheaper one...
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Old 01-18-2012, 02:12 AM
 
363 posts, read 744,734 times
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I looked through TT but it doesn't give you options for much besides interest, points, property taxes, etc. Tax code says you can deduct any improvements made prior to moving in, making the house livable, etc. TT doesn't allow for that and A few other home buying deductions.
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Old 01-18-2012, 08:59 AM
 
487 posts, read 987,967 times
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Quote:
Originally Posted by SsnTktHldr View Post
I looked through TT but it doesn't give you options for much besides interest, points, property taxes, etc. Tax code says you can deduct any improvements made prior to moving in, making the house livable, etc. TT doesn't allow for that and A few other home buying deductions.
I find that surprising, as I have used TT in the past to deduct improvements I made to a rental condo. TT has several product "tiers" perhaps you are using a lower version which doesn't have guidance for that type of deductions? Try the higher tier product. Still waay cheaper than paying someone to "type" for you (no, I'm not talking about a professional CPA, I'm talking about a part time dude hired by a big company to basically type your data into their system and charge you $300 for that)
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