Carl
Level 15

Investors & landlords

This is why I suggest for those in your situation, to report 100% ownership and only enter their share of *everything*. But since you chose to let the program do the splits for you in a prior year, it's a real PITA to go changing ownership percentages now, as it will screw up quite a bit, including carry over losses and more importantly, prior year's depreciation already taken.

So if you are a 50% owner, enter double the amounts shown on the 1099-MISC and the program will split that to your actual 50%.

When this property is sold, chances of incorrectly reporting the sale of your share is going to be high. Just a "heads up" warning so you'll know to pay attention to detail in the tax year of the sale.