I am assuming we file separate single taxes for the year. How do we show the funds from the sale of our primary home (live in there 5 years not a rental) in May then divorced finalized in June? It was $2M and we paid $980K so we each netted $950K each. Do we split the original cost ($980K) of the home and it improvement to offset our capital gains amount?
Then we each purchased a home for $400K how do we show this in TurboTax and does it help lessen/postpone the rest if our capital gains?
