Question
The MFJ vs. MFS wksht reports an unequal allocation for my clients' Sch E RE income. It should be a 50/50 alloc. How could this have happened? Is it an error?
The spouses share all rental income and expenses equally. Yet on the MFJ vs. MFS wksht, one spouse reports income from RE rental income, while the other reports a loss.
I reviewed the entries I made in ProConnect for their rental income and expenses. I'm satisfied that I made them correctly. The spouses' RE rental income should be divided 50% each if they file separate returns. Each should report income
I reviewed the entries I made in ProConnect for their rental income and expenses. I'm satisfied that I made them correctly. The spouses' RE rental income should be divided 50% each if they file separate returns. Each should report income
