USA Schedule E in separate return : how to divide rents received and expenses

[Christophe]

If a couple who filed jointly, living together has an occasional disparity of income warranting separate Federal returns, are rents received and relevant expenses divided 50% between husband and wife, or according to what each received and spent or any other method ? What if the rental income and expenses involve a joint checking account ? Is it possible that only one spouse files schedule E and not the other ?

Thanks,

Christophe

 

[Ashley K. Knowlton MBA]

It depends. Certainly possible that one spouse files Schedule E and not the other, if the property is held/managed/etc. by one spouse only.