I am separated and my ex husband and I have rental property, How do I enter 1/2 of the rental income and 1/2 of the expenses on my income tax

[TurboTax-Terry · Accepted solution]

Indicate that you are a co-owner of the property and your share is 50%. In the “Details of Partners” section provide the information for your spouse as partner and their share is 50%.

Include the gross amount of all Income and Expenses in the rental schedule and the software will calculate ½ of the Net amount on your return at Line 126.

You can find a detailed summary of your tax return under the "Review" tab > "Bottom Line (tax summaries)"> then look for the paper and magnifying icon in the lower left hand corner, select "Detailed Tax Summary". You will have a line by line sample of the Federal Tax Return.

[ermohr42]

I am trying to get Line 160 to show 1/2 of the gross rent but the software puts the full rent in.  I did put my share as 50% and my co-owner as 50%.

[TurboTax-Terry]

The Net will transfer to Line 126 of the tax return. Line 160 is the Gross Rent and the net is your reported amount of Gross after all adjustments.

[ermohr42]

It is still not working - Here are the fi

[ermohr42]

My co-owner has agreed that I could claim 100% of the furnace repair.  Is there anyway I can enter this on the income tax form.  Everything is calculated on 50% of the expenses.

[TurboTax-Terry]

You can enter the amount as a partner expense rather than including it as a general expense it which case it will only show up on your Rent Statement.

[ermohr42]

Thank you very much.  This worked