When entering rental income for a property that I own 50% of, do I put the entire amount that the property took in or just the 50% of it that I received?

Forum|Forum|1 year ago
February 2, 2025
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TurboTax gives the option of entering all of the expenses and then dividing them according to ownership for you, or "you do the math" and only enter the expenses you were responsible for. The same option does not appear for income, however, after I enter the percentage amount of income that I received, the Schedule E shows the amount has been divided again.

Best answer by DianeW777

The income entered should not be adjusted by any percentage. Be sure you are entering it in the income section. All income is assumed to belong to the rental and is never divided by any percentage. Any income entered is automatically assumed to be 100% rental income for a specific property.

@nicholas-corley

Shannon B1

If TurboTax does the calculations, it will divide all the information you enter for your rental property by your ownership percentage. So, you need to enter everything at 100%.

Sometimes, it's easier to do the math yourself to ensure that your part and the other owner's part add up to the total.

nicholas-corleyAuthor

Thanks for the response! I understand that if TurboTax does the math for me, I can put in everything at 100%.

I am asking if TurboTax does the math for me. In my example, TurboTax explicitly allows me to choose whether it will do the math but only for expenses. It says nothing about rental income. Please see the attached screen-grab of the UI that I am talking about and note that 1) it only says "expenses" and 2) there is nothing like this screen for "income" (that I have seen):