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Get your taxes done using TurboTax
First of all, I always buy TT Priemer, and I only have two rental properties. Your properties are entered in based on the address in the Business section. On the overall expenses overview page, you can see a net gains or loss for each property. Based on what you can carry over to ordinary income, you can base the effects on your net taxes.
I used to do something different years ago and now only every few years, if I feel I need to administratively make withholding changes. What you can do is make separate files (applications for each property along with your base 1040 report). This way, rather than seeing the effect of all the properties against your income, you can see the effect of each one. This can be done after you file your current year's taxes.
In this way you can see the effect of each property against your income without the influence of the other properties. This will give you information that is helpful if you're considering selling or buying other properties. You could even make different models when you considering buying new property inventories to ensure that addition of a new property is a match in your tax strategies along with your investment strategies.
Not knowing your desired strategic outcome/goals, I can't suggest how to build models that will provide the information you need. I do suggest you learn how to use last year's TT application to build models and save different files that include your other income sources to plan for next year. Another good use for this is to use your last year's filing data to build future years taxes with projected remolding expenses. This will provide you with the best remolding schedule based on the order of projects and houses needing the work. Again not knowing your (nor do I want to know) personal income configuration as earned, unearned, rental and other, modeling a simulation tax returns seems to me to be what you need to become an expert in. The only way to do this is to start now in 2023 using your 2022 filings and build models and simulated files to find what works best for you.
I highly recommend you first develop a structured and strategic file naming strategy that defines what you built the simulated model for. I suggest you use both folders and file names to differentiate the information that is being yielded. Without this, you will quickly loose what you built and find yourself spending lots of time trying to find what you need in the future. I'm thinking folders named for statuses with actional folders nested within them for each property. Like this:
Property tax model for 2023
Property house numbers and/or street names
Turbo Tax files
Property Renovation Schedules
2024
Properties
TT files
2025
Properties
TT files
And so on for all the type modeling and simulations you build for your desired outcomes.
I hope this helps and you can see yourself becoming an expert in your future property ownership data successes.