George4Tacks
Level 15
02-13-2022
09:27 AM
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How do I enter the percentage of ownership for rental or royal property?
- Go to the Input Return tab.
- On the left-side menu, select Income.
- Choose Rental and Royalty Income (Sch E) from the dropdown menu.
- Scroll down to the Other Information section.
- Enter the percentage in the Percentage of ownership if not 100% (.xxxx) field.
You can also enter a Percentage of business use (.xxxx) on assets in the Depreciation screen. However, you shouldn't use these two fields together, as this will cause an inaccurate reduction of rental income and expenses.
Answers are easy. Questions are hard!
