AliciaP1
Expert Alumni

Get your taxes done using TurboTax

I'll answer your questions by your numbers:

  1. Yes.  If you agreed in the divorce to split most things from your prior years' returns, it makes the most sense to include this in the split.
  2. Yes, just be sure that if it is an odd number you don't both round up so the total new carryover is slightly higher than the joint.
  3. You do not need to split the rental details, you need to change the ownership % in the details about the rental.
    • To do this in TurboTax Online you can follow these steps:
      1. Within your tax return click on Wages & Income in the black menu bar on the left
      2. Click Edit/Add for Rental Properties and Royalties (Sch E)
      3. Click Edit for your rental property
      4. On the Do any of these uncommon situations apply to XXX? screen click I was not the only owner of this rental
      5. Enter your ownership percentage on the next screen
      6. On the Want us to divide XXX expenses for you? screen click Yes, I will enter total amounts and have TurboTax calculate 50% since you have depreciation and asset value carrying over from prior years
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