Carl
Level 15

Investors & landlords

Just to reiterate the obvious so it's "out there" in the open and to confirm I understand things correctly and completely.

For your 2018 taxes both of you filed with a filing status of single.

Both of you have a SCH E on your separate returns.

Both of you have 100% ownership in all properties reported on your respective 2018 SCH E's.

Now if all the above assumptions are correct, it's perfectly possible for all rental properties to be reported on one single 2019 joint tax return. In fact, that's the best way to do it tax-wise. However, you have to transfer the rentals from one of the 2018 tax returns, to your joint 2019 tax return.... and you have to do it correctly. Otherwise, the main thing that will be blatantly wrong is depreciation. So.....

Did both of you use the online version of TurboTax to file your 2018 returns? Or the CD/Desktop version?

Which one of you has the most rental properties? Or maybe you  both have the same amount?

I need to know this so I give you the property details on how to do this right, the first time. Screw it up, and you'll be celebrating your 3rd or 4th annaversary in the poor house. Let's avoid that.

Basically, one of you will change your status from single to MFJ and will have to manually enter, one keystroke at a time, the rental data from the other's 2018 tax return. I'll give you details on this (which do matter) once you've provided the data requested above.

 

 

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