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Investors & landlords
I can only assume there are programming limitations that make it non-viable to split everything. I can see that with all the possible scenarios of a multi-owner property. One thing I do note is that on the screen for "We can automatically divide your income and expenses for you" is does state it will split income and expenses. No mention of assets or depreciation. However, upon clicking the "learn more" link on that screen I see the following:
NOTE: This only pertains to expenses. When you get to depreciation you will need to enter a reduced basis based upon the percentage of business or rental use.
In my opinion (and we all know what opinions are like) that should be on the main screen, and one shouldn't have to click any links to see that. Additionally, the statement is incomplete. It should also include "percentage of ownership" in additional to percentage of business of rental use.