I own 50% of a rental property. I have entered that fact into TurboTax. I entered all expenses gross, then TurboTax brings forward 50% of the expenses. So far, so good.
But for depreciation, it brings forward 100% of the deprecation, if I'm calculating SL/MM ACRS correctly:
Total cost 158,260 less Land cost 23,742 is depreciable cost of 134,518. 134,518 divided by 27.5 years is 4,892 per year for deprecation.
I expected TurboTax to bring forward only 50% of 4,892.
posted
last updated
June 04, 2019
1:30 PM