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Level 1
April 6, 2021
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?

  • April 6, 2021
  • 1 reply
  • 7 views
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
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1 reply

PhoebeRoberts
Intuit Community Champion
April 6, 2021

Some of your depreciable assets are coded to the taxpayer, as opposed to joint.