Sale of co-owned rental property (March 2016) property was not rented at all in 2016, so there is no income, but paid mortgage interest on the co-owned rental property

[alexstatza]

Do I claim half the sale value and half the acquisition expense?

[LeeM · Accepted solution]

Yes, you will only enter the allocated amounts (based on your percentage of ownership) of the sale value, depreciation, expenses, etc.

The correct allocation entry into TurboTax is critical for the program to correctly calculate.