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whellier
New Member

TurboTax handles division of jointly owned rental income, but it is not clear if it does so for selling the property. Should I enter only my share or the total amount?

Rental property was house inherited by two brothers and a sister, so there was 1/3 ownership for each. Property was sold to tenants after two months.

TurboTax Premier asks for percentage of ownership and allocates rental income and expenses proportionately, but it is unclear if it does so for the sale of the rental property.

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whellier
New Member

TurboTax handles division of jointly owned rental income, but it is not clear if it does so for selling the property. Should I enter only my share or the total amount?

After stepping through the section again, I realized that the instructions clearly say that only the personal amount should be used - in this case, 1/3 of the total.

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1 Reply
whellier
New Member

TurboTax handles division of jointly owned rental income, but it is not clear if it does so for selling the property. Should I enter only my share or the total amount?

After stepping through the section again, I realized that the instructions clearly say that only the personal amount should be used - in this case, 1/3 of the total.

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