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Get your taxes done using TurboTax
You will have to change the status of the ownership to remove the "joint" designation in TurboTax.
For purposes of your tax return filing, it is referring to who owns that set of income and expenses so that it can allocate them properly on the return, rather than who legally owns the actual property. Since there is no spouse on the return to allocate part of the income to, the field(s) need to be updated.
You should have already allocated the income and expenses before entering the data so that only your agreed upon portion is shown on the tax return. Then you mark that as belonging to you.
This doesn't change or affect the legal ownership of the property in any way.
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‎April 17, 2024
10:54 AM