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Reply to "How much does it cost to have an accountant prepare your taxes?"
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[quote=Anonymous]Just use TurboTax. It'll ask if you received any 1099-MISC forms, he'll click Yes, and then click it was part of a sole proprietorship (Schedule C) and list the expenses associated with that work (if any). Then be prepared to pay self-employment tax (it'll compute it). We have a very complicated return - 3 rental properties, foreign income as qualified dividends, foreign tax credits, schedule C, and section 179 deductions. I do it in Turbotax Deluxe and it handles it all. Last year, due to being unsure about how to classify certain items on a HUD-1 related to acquiring a rental property, I used an accountant also. Turns out I did better with Turbotax then he did -- he got the depreciation schedule for mortgage points wrong, and forgot that pre-paid taxes to the state are counted on a cash basis not accrual basis. [/quote]
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