Using TurboTax Premium. Rental house, sched E. Entered my ownership share as 50% and then full amounts for all values (income, expenses, etc.). Looking at the TTax Schedule E worksheet it properly applies the 50% to all values except mileage (as expected as this differs for each partner) and depreciation, which is carried over fully (50% not applied). In reading the IRS rules it seems the depreciation should be split by partner according to ownership percentage (in this case, 50 / 50).
Do I understand this correctly? If so, I guess the only resolution is to manually alter the value in the TTax depreciation worksheet. However, if I do that and then import it next year I wonder what the effect on 2024 depreciation will be?
