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Get your taxes done using TurboTax
You can enter exactly 50% of all of the costs and income. That will get the correct amount entered.
No. Just pick the option that you like. It won't impact this transaction.
That kind of depends on the state. But to start with just know that the only way that anyone can know that you lost money on the sale is for you to tell them. As far as the state goes it looks like you made a profit of 50% of the sale price.
Your out of state tax return should match your federal tax return.
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March 28, 2025
8:44 AM