Question: I have a client with several rental properties which he is a 50% owner of each one. The normal depreciation is showing correctly in the rental schedule, but the LVP amount is showing as the full decline in value at D6. Is there a way to make the LVP amount only claim 50% without having to manually change every asset to 50% taxable?
Answer: There is no other way to do it. Only by changing assets' taxable use %.