Question

How to amend ownership interest on a rental property?

Forum|Forum|3 years ago
April 30, 2022
1 reply
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My husband and I co-own the rental property in the previous year. The previous records of 50% ownership was carried to this year. However, this year I wholly own the property. I couldn't find a way to change the percentage.

TurboTaxSusan

To remove the spouse’s percentage of a rental in TurboTax Online, click on Find (magnifying glass) in the top right-hand corner. Type "rent" in the box, then select "Rental summary" from the list, and click “Go”. Click on “Edit” next to the property where the split is entered (the top one). Continue through until you get to the “T776 Partner Details Statement” page. There you can change the percentage.