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Rental property depreciation for Pennsylvania
I own a rental property in Pennsylvania (PA) with another person 50%-50%. PA uses the same depreciation as IRS. I tell TT that I want to enter income/expense for the entire property and that I own it 50%. It successfully divides all figures in half, except depreciation. This intuitively seems incorrect and should also be divided in half. So what is the correct way to enter it? Is it a bug in TT?
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March 23, 2025
1:20 PM