TaxCut new policy or IRS requirement?

Feb 25, 2007 2 Replies

Using TaxCut - on schedule E for my rental property - item 1 "List type and location of each rental real estate property." I responded: "Houses on one lot." TaxCut added "100%" to that line. It apparently comes from the worksheet where it asks if you are an owner of 100%. (guess not just a partner) (on the second line I had street name, city and CA) In the past I have used NO such "%" entry. Is this just TaxCut being 'creative' or some new requirement???? Also - apparently NO copy of the Federal return is required with the CA return this year??? jl



>
>
>
>
>
>
>
>
>

There's been a requirement to show percent ownership if yours is less than 100%. There's probably no harm in showing the 100%, though.

--ron

Thanks for taking the time to respond.

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required