I moved in with my partner in 2002 in a home he purchased new and owned since 2000. In 2016, he/we refinanced so I could "purchase" half interest in the house and get my name on the property deed. The home had more than doubled in value. His original mortgage was $330k, and the property value was approximately $950k in 2016. The refinance amount was $390k. This year, we sold the home. How do we (filing individually) report the purchase price for capital gains purposes? Does he claim the original $330k, and I claim the $390k (b/c that is how and when I obtained ownership)? Do we split the original $330k purchase price? Do we split the value of the home at the time of refinance? How does this work?
