My wife & I purchased a rental property together before we were married. Now that we are filing jointly, do we manually add our Schedule E boxes into this year's return?

Forum|Forum|1 year ago
February 24, 2025
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In previous years, we filed as singles and each claimed 50% of the income and expenses on our shared rental property. We are now married filing jointly using my TurboTax account. Turbotax automatically pulled in the Schedule E value from my return from last year. Do I need to manually add this value with my wife's Schedule E from last year and submit that new value instead?

DianeW777

Yes, that would be the best advice since you were filing each individually prior to this. The only real change on your joint return would be to double the asset costs (rental home, land, improvements, appliances, etc). Be sure to use the correct date placed in service as though they were on your tax return all along, This will pull all the prior depreciation and keep the total rental in place for a future sale.

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