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Rental Property with 50 percent Ownership shows 100 percent of depreciation

Kingswife
Level 2

After entering the assets for the rental property the depreciation calculates at 100 percent but all of the other expenses are at 50 percent.  Do I have to put 50 percent ownership on all the assets? If I do they don't calculate correctly.

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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15
If they only own 50%, I only put 50% of the asset cost.

If they bought a house with someone else for 500K, I only put 250k as their asset cost.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Kingswife
Level 2

I was wondering if I would have to do that.  My old tax program had you put in the amount at 100 percent and show 50 percent ownership and it calculated it correctly.  I will try this because I don't see another way around it.  Thank you for your response.