irena
Level 1

My two clients, father and son, have three rental properties in both their name.  Father was always reporting all income/expenses for one property and son was reporting income/expenses for other two properties.  Now the father is retiring, and the son took over management of the rental property.  How do I report the transfer on both returns for that one property since both of them were and still are owners on all properties since they bought it?

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