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Get your taxes done using TurboTax
Ok ... do it this way ... you own 100% of your portion of the rental. So in the program you tell it you own 100% then you enter in your portion of the income and expenses ( do NOT let the program allocate anything ... do it yourself). This way you are sure you are reporting your portion of the income & expenses correctly and you will enter in only your portion of the cost basis of the property to be depreciated. Telling the program you only own 50% is a recipe for disaster as you can see from the posts on this thread.
‎January 14, 2023
6:27 PM