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Investors and rental owners
If both siblings own the property, then brother and sister would claim 50% ownership. In TurboTax, both brother and sister would enter in the total income, which the program will split based on the percentage of ownership. For expenses, there is an box labeled "Minus: Other expenses of the co-owner" where you can enter expenses that will not be split with the co-owner. The brother can enter his expenses there.
ā€ˇFebruary 24, 2023
1:54 PM