Yes, if you own part of a rental property, receive income, or pay expenses, you should include your share of those properties and activities on your tax return. TurboTax will help you determine how much to include by asking about your ownership percentage.
Report this activity under Wages & Income >> Rental Properties. Please follow the instructions below for entering income, expenses, and capital assets (building and improvements). The capital asset section will calculate depreciation expense for you based on the information you enter.
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