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David208
Returning Member

Depreciation on 50% Owned Rental Property

I owns 50% of a rental property. In last few year, I reported 50% of the income and expenses. In 2020, I was the one who handle the rental. Per the agreement with my partner who owns another 50% of the rental property. I paid all expenses and received all rental income. Therefore, I will report 100% of rental income and expenses. My question is can I claim 100% of the depreciation of the rental property? 

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2 Replies
AmyC
Expert Alumni

Depreciation on 50% Owned Rental Property

No, you only own half the building so only half is depreciated for you.

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craigdw
New Member

Depreciation on 50% Owned Rental Property

Then why does TT calculate 50% on income and expenses but does not halve the amortization and depreciation? Do I have to override what it calculates?

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