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posted Oct 29, 2019 11:09:47 PM

My wife owns 50% of rental Property. Do I have to "Enter new disposition" for my wife with the same info or does TurboTax do it automatically?

I sold my Rental property in 2015...I filled out the Capital Gains section and put 50 in the heading "Percentage claimed on spouse's return (if applicable)  because she owns 50%.. My question is do I have to "Enter new disposition" for my wife with the same info or does TurboTax do it automatically?

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Level 5
Oct 29, 2019 11:09:49 PM

Good morning,

If you own a rental property for 50% with your spouse, you have to enter all the informations related to this rental property in your return and in your spouse's return. Including dispositions.

Thank you!

Magalie@TurboTax

1 Replies
Level 5
Oct 29, 2019 11:09:49 PM

Good morning,

If you own a rental property for 50% with your spouse, you have to enter all the informations related to this rental property in your return and in your spouse's return. Including dispositions.

Thank you!

Magalie@TurboTax