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- Rental property two owners, not spouses
Rental property two owners, not spouses
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Christine384
Level 2
04-05-2022
02:03 PM
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Rental property is owned by 2 people. Only one is showing the Schedule E for 100% of it. 1 owner can use the deduction, the other owner has no taxable income usually.
Must it be split and put on each 1040 or can just one take all income/deductions?
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1 Comment 1
IRonMaN
Level 15
04-05-2022
02:19 PM
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If it is a 50/50 ownership, then income and expenses should be split in the same fashion.
Slava Ukraini!
