MarilynG1
Expert Alumni

Get your taxes done using TurboTax

Yes, you will need to enter 50% of the Cost Basis in the Property Profile section of Rentals.

 

You want depreciation calculated for you on your Cost Basis, which is 50% of the total cost.

 

Even though you indicated you're a 50% owner, TurboTax assumes that the Cost Basis you entered is your 50%.

 

Here's more discussion on Jointly Owned Rental Property Reporting.

 

 

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