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Question

In the Owner Info section of rental property info, the edit link under "Ownership percentage" doesn't let me change the value.

Forum|Forum|3 years ago
March 4, 2023
1 reply
0 views

The value shows 50%. I'm want to change to 100%.

TurboTax Self Employed Online

Employee

IF 2022 was not the first year of your 50% ownership, you can't change it. Otherwise, it completely messes up a number of things, including depreciation and depreciation history. If you had 50% ownership and now have 100% ownership in 2022, you simply enter the other 50% of the property as a new asset for that property, indicating your actual acquisition of that additional 50% on whatever date in 2022 to acquired it.