I owned a commercial rental property in a single member LLC. During the year I sold a 50% interest in the commercial property to another person and took the proceeds and did a 1031 exchange with the proceeds into another commercial rental property. The other person and I now hold the original property as tenants in common, each holding a 50% title interest. How do I report that sale and how do I adjust the property worksheet and depreciation for a partial disposition of the original property. All the forms and the turbotax program talks about is complete disposition of property - not partial.
