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Level 2
posted Oct 4, 2021 9:51:28 PM

ownership percentage change for rental properties

I co-own a few rental properties with other owners. I used to report 50% of ownership when filing tax return. From this year, I need to reduce the ownership percentage to 10% or 5%. Do I just simply change the ownership percentage number when filing the return? Is there other process involved? 

0 2 310
2 Replies
Level 15
Oct 4, 2021 11:16:21 PM

how did your % change from 50%? 

Level 15
Oct 5, 2021 5:21:52 AM

Multiple posts :   https://ttlc.intuit.com/community/user/viewprofilepage/user-id/4594195

 

Poster has been advised to seek local professional advice since it seems these owners never filed a partnership return.