In Rental Expenses, for my and my partner's 50/50 shared property, should we each be entering 50% of the expenses, or the total amount instead? Thanks!

[TurboTaxGinette]

If you are claiming 50/50 for income then you need to claim 50/50 for the expenses also.

For more information please see our TurboTax FAQs: 

When Married Couples Run Businesses Together 

Completing Your Return if You Co-Own a Small Business with Your Spouse

Thank you for choosing TurboTax.

[oscardelataxes]

Thanks @TurboTaxGinette! I understand that we need to split the expenses, but it seems that TurboTax automatically splits our 50/50 income, so I'm wondering if we need to divide our total expense costs by two and physically enter those amounts in each of our relevant sections OR if the system will work out that we are dividing the expense costs between us so entering the total amount in my section (which is then replicated in my partner's) is the way to go. Hope this is making sense and thanks for your help. 

[TurboTaxGinette]

If you each have the 50% ownership indicated then you will put the full amount of the expenses on each return and TurboTax will calculate the 50% for each of you on your perspective returns.

Thank you for choosing TurboTax.

[KaraB22]

So does that mean I'm also putting the full income onto both of the pages as well (given the 50/50 partner indication) or split the income? 

[TurboTaxAniqua]

@KaraB22 Correct, If you each have the 50% ownership indicated then you will put the full amount of the income on the return and TurboTax will calculate the 50% for each of you on your perspective returns. You can see the details in the "Detailed Summary".

Thank you for choosing TurboTax.

[YOW18]

today is 02 April 2025, I enter rental property  to one person and select 50/50 split,  it is right one person get 50% of income , but the other half did not go to wife, do I need enter all information again on her return?

[TurboTaxBrenda]

Can you please confirm if you are using TurboTax Desktop or TurboTax Online.

Thank you for choosing TurboTax.

[meshkou]

hello,

So to make sure I understand correctly, if the Annual gross rents for all units, including short-term rentals for a 50/50 owned rental property between me and my spouse is 10 000, and the total expenses are let's say 5000 insurance, 3000 bills, 1000 maintenance, obviously turbotax copies what I put for any of us to the other, can you please confirm, what is the number I should put under the box " Annual gross rents for all units, including short-term rentals"? would it be 5000 or 10000? and of course whatever I will put will be repeated to the other spouse.

Similarly, should I put insurance as 5000 under 1 spouse and leave it to be copied to the other? or put only 2500?