My wife and I sold our house in Virginia . The escrow agent divided up the sale into 2 halves for each spouse and sent us each 1099-s. With each social security number.
Combined we are still under the 500K capital gains. When reporting these 1099-s, since we are filing jointly do we report the total sale or do we have to insert 1/2 of the sale for each spouse into turbo tax. which should amount to the same.
Its weird as the house was jointly owned by both of us and so listed in our deed which place the house in a trusat.
I just hope its not a taxable issue with a 250K cap when marries filing jointly its a 500K limit (we satisfy all other terms).
do we have a rogue escrow agent as i pushed hard for 1 1099 and they pushed hard back that it had to be 2.
