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Investors & landlords
Do you own 100%, If not, do you allocate on your own your share? I always input my % directly as often allowing TT to do it may cause unwanted allocations. Examples my mileage is mine, so are many costs not shared. The allocation may interfere with participation questions too as: The individual participates in the activity for more than 100 hours during the tax year, and their participation in the activity for the year is not less than the participation in the activity of any other individual (including those who are not owners) for that year.
So simply put 100% and I write in the description 50% ownership....
So simply put 100% and I write in the description 50% ownership....
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎February 21, 2025
9:53 PM