Question

TurboTax online won’t let me change from 50% owner of a short term rental to 100%

Forum|Forum|5 years ago
April 19, 2021
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Has an edit button but when pressed/ doesn’t do anything!1

TurboTax Self Employed Online

Please see this answer from Carl.

Under no circumstances do you change ownership percentage of a rental asset. Doing so will mess up everything. In particular it will completely skew the past year's depreciation as well as the current year depreciation.

If you purchased the other 75% from the former owner of that 75%, you simply enter it as a completely new asset in the assets/depreciation section. Leave the original entry alone.