My spouse and I own a rental property jointly. I am trying to input an annual EXPENSE - the property insurance, but when I also enter the valid detail of it being a tax deductible expense, it will not allow it to be a joint expense. I suppose the work around may be to enter 1/2 the amount of the insurance under my name and the other half under his name and then select the tax deductible option. But I was hoping there may be a simpler solution I am overlooking. Thank-you for your help.
You’re right, it’s an unnecessary restriction, and easily removed. Your work-around does work and if you want to strictly keep those expenses and their deduction at 50% then you should probably leave it that way. I have changed it so that you can specify the tax-deductible expenses as Joint. This gives more flexibility to the TIME MACHINE since Joint expenses are paid proportionally to income (any tax deduction will also follow the same proportion). Also as Joint expenses, they are inherited in full if one spouse dies prematurely in the TIME MACHINE.