In general, you will go through the Rental Income and
Expenses section as if you did own the property.
The program may not proceed without you answering that you
are the owner. So, when you come to the
question about whether you, your spouse, or both of you own the property think
of it as asking which of you is reporting the income and expenses. This will define the designation on the
Schedule E as having either one name or both names listed.
Then, continue through the rest of the section entering
income and expenses except those that would pertain to ownership of the
property (no mortgage interest, no property taxes). Do not depreciate the property itself since
you do not own it. Choose “none of the
above” for the method of acquisition if asked.
