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Returning Member
posted May 5, 2024 10:33:35 AM

Unable to enter T776 income and expenses in spousal co-ownership situation

I have been trying to complete the 2023 return and have been stuck at the T776 form.  Turbotax Standard 2023 still does not appear to support the spousal split in case of a co-ownership situation.  As of May 5, this is still not possible to choose my spouse's name, anywhere on the T776.  

Please advise what the fix or workaround is.  I do not want to use the override feature as this may double reported rental incomes and expenses on the respective returns.  

Derek

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1 Replies
Moderator
May 8, 2024 8:08:59 AM

Please go under your wife's return and personal tax profile- make sure that you answered "Yes" to the question:

 

Then click on Continue to save the answer. 

Go to the top right and click on "Find" type in Rental property and Go.

You will then see this:

 

 

You will complete the questions with the proper amounts entering the 50 for 50%

Continue, now this is the important step. Click on the drop-down arrow and choose the rental address- this is where the information will be carried to your spouse.

 

Thank you for choosing TurboTax.