Should Depreciation be split?

[lyndbe]

We sold rental property that we share w/ a 40/60% split. I noticed on Schedule E, the entire amount of Depreciation is included in line 20.(not a 40/60 split). Is the 'Cost basis' adjusted with 40/60% or entered as 100%?

[Anita01 · Accepted solution]

The cost basis for depreciation is entered only for the amount of the property that was paid for by each owner.  If you only paid for 40% of the purchase price, that's all you enter as your cost basis for depreciation.

[lyndbe]

Just to clarify - the cost, the improvements, the depreciation & the amount the property sold for.. should be entered with the 40% or 60% amounts? Not the full (100%) amount?