I have a few points to clarify as I find your response doesn't fully address the questions that I asked. First, I am using the desktop version, NOT the online version of TurboTax. Second, the husband's and wife's are being prepared in the same file (.tt25) Third, factually, they are CO-OWNERS at 50% each, NOT a partnership. Fourth, I am using the forms method, not EasyStep.
Based on the above:
1) I don't see any box labelled "Transfer to Spouse" on the T776 form in TurboTax. Where is it on the T776? Or is this in only in EasyStep , or not on the desktop version at all?
2) If the "Transfer to Spouse" box is not on the desktop version, and if I have selected "co-owners" on the form AND fully entered the information in PART 2 of the form ("Details of Co-owners and Partners") including "Percentage of ownership" at 50%, Line 2 on T776 is not changing to the proportional amount for each taxpayer. Should it?
3) Or, must I also enter 50% in PART 1 under "Your percentage of the partnership"? While this does change Line 2 to the correct proportional amount, it seems incorrect to enter 50% here as it is NOT a partnership (it is co-ownership). Please advise.
Thank you.
