MarilynG1
Expert Alumni

Get your taxes done using TurboTax

Yes, your son and daughter can each report 50% of the rental income and expenses on their returns.

 

If they entered their Cost Basis in the Property Profile and Asset/Depreciation sections as their 50% amount, depreciation will be calculated for their share correctly, as well as other expenses.

 

@gr3849 

 

 

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