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New Member
posted Mar 19, 2023 3:44:34 PM

rental expense

It is unclear whether Turbotax splits the rental income automatically in a co-ownership situation when filing taxes together with you spouse.

 

If rent is $10,000 per year, do I enter $5000 each or $10,000 each and it will figure out based on your listed your co-owner at 50%.

 

Same question for the expenses.  If we have $2000 of expenses do I enter $1000 each or $2000 and it will figure it out based on your listed co-owner at 50%?\

 

Thank-you for your feedback!

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1 Replies
Moderator
Mar 24, 2023 1:17:27 PM

Yes, if you and your spouse are co-owners, the income will be automatically split between you if you enter a percentage. Expenses will be split if you don't enter them as being for one partner. CCA will not be split.