I have always used Turbotax in the past while only having a few minor questions about additional deductions. In 2006 I got divorced, sold my house and bought another house, got a new job, etc. Lots of life changes and I was wondering if it might be better to go to a professional vs. doing it myself this year? Can Turbotax handle these easily? Live in PA if it makes any difference.
2007-01-25 08:29:57 · 6 answers · asked by net_pro_2003 1 in Business & Finance ➔ Taxes ➔ United States
Turbo Tax does cover all these issues....just make sure you choose to do the full interview and not the short one.
2007-01-25 08:38:15 · answer #1 · answered by T H 4 · 1⤊ 0⤋
In Michigan, and probably in most states, you should file a motion to re-open the divorce, or to amend the judgment of divorce, saying it was not final because it did not contain a full and complete disposition of all of the marital assets. Alleged that the failure to include this was an oversight. (just what did your divorce lawyer do anyway? Did you even have one? I believe it would be malpractice not to address this issue) If re-opening the divorce is not possible, file a totally separate lawsuit to ask the court to partition or sell the house. One caution thought: If there is no equity, it is likely that she, or you, individually or jointly will actually have to PAY to sell the house, to cover closing costs such as realtors fees, etc. In the VERY LAST resort move back into the house because if you are a co-owner and she cannot keep you out without a court order. It is very important that your name come off the house and, probably more important the mortgage, because if she stops paying the monthly payments your credit will be adversely affected. Further, it is likely you will not be able to purchase a new house with the existing mortgage as a debt on your credit report (unless you make a lot of $$). BTW If she cannot refinance alone, her new boyfriend can co-sign as long as he is living there. BTW2.. The above assumes you do not have children that you are responsible for as part of the divorce. If you do, and are paying child support, a judge will probably not force the sale of the house where the children live or allow you to move back in. However, you may ask for permission to pay the house payment directly (in whole or part) and deduct the amount you pay from the child support due to protect your credit.
2016-05-23 23:28:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Turbotax CAN handle all the issues. I would personally use a professional when a divorce is involved. They will know to ask questions you might not think to tell Turbotax about.
Note: H & R Block and similar services are NOT what I mean by proffesionals.
2007-01-25 10:11:37 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
those things can all be handled with regular Turbotax.
The professional really is for if you have a small business. And it has some stupid videos where someone tells you things that would be much easier and faster to communicate in text, anyway. You pay an extra $50 to be able to file a free state return, which PA allows to do do on line for free, anyway. (I also live in PA and the state tax is pretty simple).
2007-01-25 09:08:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I personally would go to a professional, there is only so much help a software program can provide.
2007-01-25 08:38:32 · answer #5 · answered by emeraldsky21 2 · 0⤊ 1⤋
To me, your question screams CPA and maybe a second opinion.
2007-01-25 21:51:50 · answer #6 · answered by hebb 6 · 0⤊ 1⤋