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A
angien
Level 1
April 4, 2020
Question

ownership percentage of depreciation is not calculating on schedule e

  • April 4, 2020
  • 2 replies
  • 13 views

I have input the ownership % on schedule e for a commercial property and all income and expenses are allocated by the % except depreciation.  If I put in a business use in the asset worksheet the % is calculated incorrectly.

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2 replies

T
TaxGuyBill
April 4, 2020

Correct, the depreciation business percentage needs to be entered separately.

But you also said when you do that, the depreciation is being calculated incorrectly.  What do you think is incorrect about it?  Give as much detail as possible.

    rbynaker
    rbynaker
    Level 13
    April 4, 2020

    Manually apply the ownership percentage to each asset's basis.  So a $600 washing machine @ 33% would be entered as "Washing Machine (33%)" and basis of $200.  I put the percentage in the description so I don't screw it up later. 🙂  So mostly it's to protect me from me.

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