18fox
New Member

Do both my husband and i enter gross rental income and total expenses if we are co owners at 50%

 

Investors and rental owners

Yes, if you both own the property you will be put the full amount of the rental income and expenses and be sure you claim the 50%.  If you are a co-owner of the rental property, your share of the rental income or loss reported will depend on your share of ownership. Since you own 50% of the property, you can claim 50% of the income and expenses incurred from the property. Here are two great articles to learn more about claiming rental income and how to enter rental income and expenses.

 

Thank you for choosing TurboTax.