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Get your taxes done using TurboTax
I am in the same boat. I am not sure which of the following is better:
(1) I entered my ownership to be, say, 60%. I then entered 100% of the income, expense, and depreciation. Turbotax calcuated my share of the income (60%) and expense (60%), it does not touch the 100% of the deprection that I entered. I override the form and make the depreciation 60%
(2) I entered my ownership to be, say, 60%. I then enter 100% of the income, 100% expense, and 60%depreciation. Turbotax calcuated my share of the income (60%) and expense (60%), it does not touch the 60% of the deprection that I entered. No override needed.
Can somone tell me which is the correct way?
March 9, 2020
3:39 PM