@jcakes09 There are many potential outcomes of this depending on the type of property being sold, the relationship of you to the property owner, and whether the property owner gifted you 1/2 the property prior to the sale or if they are giving you half the proceeds as a "commission".
If the item sold was personal residence in which the owner lived their 2 of the last 5 years, they may qualify for an "exclusion of gain" on the sale - this is just one example of how the type of property can influence the rules.
Another item that could influence the answer would be if the property was ever used for business purposes (such as a rental home, an office in a home used for business purposes, etc.) that could change the outcome as well.
If you could reply back with more details about the property type, including if it was a personal residence or used for business purposes, your relationship to the owner, and whether this property was 1/2 gifted to you or if the proceeds were given you for your work on selling the property.
You may also get a quicker answer to your question if you contact us - check this link: How do I contact TurboTax?
Because of the complexities with this issue, you may also want to consider handing off your taxes to a TurboTax Full Service Expert .
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