With 33.33% ownership in a rental property, Under "rental property info" & in "New rental property" should I enter 100% or 33.33% of the property value and closing costs?

Forum|Forum|3 years ago
April 20, 2023
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I have 33.33% ownership in a rental property, Under "rental property info" and in "New rental property" should I enter 100% of the property value and closing costs to to calculate the cost of the house? Or Just 33.33%?

TurboTax Premier Online

rjs

Employee

Answered in your other post about the same situation. Please post your question only once. If you want to add more information or post a follow-up question, add a reply to your original question. Do not post separate questions about the same issue.

S-R-GAuthor

They are different questions. 🙏

Critter-3

If you are not going to file a Partnership return like you really should then in the TT program you own 100% of your 33% thus you will indicate 100% but only enter in your 1/3 of income, expenses and basis for depreciation.