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Level 1
June 5, 2019
Solved

Sold a rental property which I owned 50%. When entering the sales information do I enter the full price, expense, etc? OR do I multiply by my ownership percentage?

  • June 5, 2019
  • 1 reply
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Best answer by MinhT1

If you own a 50% interest in the rental home, you report half of everything on your tax return (cost basis, sale price, selling expenses, depreciation recapture).

1 reply

MinhT1Answer
Level 15
June 5, 2019

If you own a 50% interest in the rental home, you report half of everything on your tax return (cost basis, sale price, selling expenses, depreciation recapture).

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Level 2
June 5, 2019
How do you override calculated cost basis and depreciation recapture to reflect ownership percentage?