I am trying to have line 2 on the T776 (page 2) show the co-owners share (e.g., 50%) of net rental income for a husband and wife. It is a husband and wife and they are co-owners, not partners. However, the only way TurboTax will show the proportional amount in line 2 is by entering a percentage in Part 1 under "Your percentage of the partnership". Strangely, line 2 does NOT seem to be impacted by the "Percentage of ownership" in Part 2.
Do I need to fill in the partnership percentage in Part 1 as a co-owner to have line 2 show the proportional amount, or is there another method that co-owners (as opposed to partners) use to show their proportional share of net income on line 2.
Thanks!
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