Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 30, 2025 9:22:18 AM

how do i get TurboTax to allocate rental income based on 50% ownership?

why?

0 1 362
1 Replies
Expert Alumni
Mar 30, 2025 9:31:09 AM

There are two alternative.  

  • You can file a 1065 partnership tax return and allocate the K-1 to your personal accounts.
  • You can simply allocate all expenses and income 50 / 50.
    • This will be posted to a Schedule E