Crank Posted February 16, 2014 Report Share Posted February 16, 2014 Im at a loss for how to change the ownership % on the sale of rental RE. Depr flows fine at 50% to the Sch E where ownership is indicated at 50% however 100% of the gain on the sale is flowing to the 4797. The only options I see on the Fixed Asset Disposition Tab is for business use not ownership. How do I get 50% of the gain to flow to the 4797 and not 100% Quote Link to comment Share on other sites More sharing options...
WITAXLADY Posted February 16, 2014 Report Share Posted February 16, 2014 YOU MIGHT HAVE TO RE ENTER IT by hand.. say I have a farm ho buys 30 cows but only sells 5 of them or 2 die - I then have to go back in and break out the purchases.. I print the information of what it was and then split it out so it is correct at the finish. Hope this helps your situation Quote Link to comment Share on other sites More sharing options...
Crank Posted February 17, 2014 Author Report Share Posted February 17, 2014 I was thinking of doing that but then it would affect the 50% depreciation flowing to the Sch E. Unless I over ride the 50% of the depr flowing to the Sch E then go in to the Fixed Assets and cut everything in half so the correct 50% of the sale shows on the 4797. This seems like it should be easy and built into the software. Quote Link to comment Share on other sites More sharing options...
Crank Posted February 18, 2014 Author Report Share Posted February 18, 2014 My bad. The 50% ownership doesn't get applied to the depreciation on the SchE but DOES get applied to all other income and expense items. I had to split the fixed asset in half to get the 50% ownership gain to flow to the 4797 and the SchE. That's ridiculous. Quote Link to comment Share on other sites More sharing options...
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