My wife and I file separate Schedule Fs for our small farm enterprise It has been split 50/50 since the beginning with half the cost basis of each asset entered for each spouse. This year the profit is low and we would like to change her portion to 100% with me claiming no profit in order to give her Social Security credits for the year. I cannot figure out how to reallocate the depreciation calculated by Turbotax. As it stands, I am showing a $2700 loss due to depreciation and she is showing a $10000 profit. This is reflected on the Schedule SEs. I have tried to increase the cost basis for her assets and reduce it on mine, but I believe the software is adding it as a new cost, versus adjusting the original basis. Is there any way to adjust this? I don't mind filing it the way it is and paying the extra SE tax, but will the IRS flag it as a problem? Any way to fix this?
