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xoxo1
New Member

"Your percentage of the partnership" field in Part 1 of T776

I have two rental properties that I co-own with my friend (one of the two properties are evenly split and the other one is 70%-30%).  When filling T776, I am confused by the "Your percentage of the partnership" field as the program claims that my return has an error if I left this box empty, despite the fact that the property is NOT owned in the form of partnership. The suggested fix is to "Remove the percentage of partnership If you were a sole owner with your business or rental property." Can you please clarify?

1 Reply
TurboTaxSusan
Moderator

"Your percentage of the partnership" field in Part 1 of T776

Please make sure that you have selected co-ownership as your answer to the question “Property Owned By A”. Then in Part 2 you would put your co-owners’ percentage, as that section is for both partnership & co-ownership details.

If you are still unable to resolve this issue, please contact our phone support as they will be better able to assist you (*Not available for TurboTax Free users*). https://turbotax.community.intuit.ca/replies/3152013


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