There are two alternative. You can file a 1065 partnership tax return and allocate the K-1 to your personal accounts. You can simply allocate all expenses and income 50 / 50. This will be posted to a Schedule E

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tdrakeharris

Question

how do i get TurboTax to allocate rental income based on 50% ownership?

Forum|Forum|1 year ago
March 30, 2025
1 reply
0 views

why?

JohnB5677

There are two alternative.

You can file a 1065 partnership tax return and allocate the K-1 to your personal accounts.
You can simply allocate all expenses and income 50 / 50.
- This will be posted to a Schedule E

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