I've been a loyal Turbo Tax customer for more than 15 years. How I regret that and wish I'd hired a professional years ago!!!!!
I had a rental property for 14 years that I sold in 2022. For years I was "under water" after the 2008 market crash but fortunately, I was able to sell the rental in 2022 for a good amount above the purchase price. Shame on me for not understanding the concept of depreciation. I'm now facing a large capital gain that could've been reduced had Turbo Tax (Premier) coached me through the depreciation calculation all these years. The only reason I hired an accountant for this year is in addition to selling the rental, I inherited some money and my husband received stock options. My accountant used to work for Turbo Tax and said errors in the software are almost always in favor of the IRS. That's why the IRS recommends Turbo Tax (unreal!).
If you have even one rental property, DO NOT USE TURBO TAX!!! What's happened to me and so many others is absolutely criminal!!!!!!!!!!!
