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rkerschner1
New Member

I own 50% of a rental Property. Depreciation is coming through at 100%.

I am entering 100% of my income and costs for the rental property. I select 50% ownership and let Turbo Tax calculate 50% of the values entered to transform to Schedule E. However on Schedule E, 100% of depreciation from form 4562 appears on Line 18. Why does the software not calculate 50% of the depreciation value Form 4562?
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view2
New Member

I own 50% of a rental Property. Depreciation is coming through at 100%.

You missed the note on the screen that clearly states only applies to expenses and that you have to calculate your percentage of ownership for the correct adjusted price to depreciate.

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1 Reply
view2
New Member

I own 50% of a rental Property. Depreciation is coming through at 100%.

You missed the note on the screen that clearly states only applies to expenses and that you have to calculate your percentage of ownership for the correct adjusted price to depreciate.

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