Deductions & credits

Here's what your going to do.

Go into the 8949 form mode.

then;  in the adjustments column , you'll enter a figure either positive or negative to zero out whatever gain or loss resulted from the activity of the sale of the house.

For example, if you had a gain of 150,000, you would enter -150,000 in the adjustment column. If you had a loss from the activity of the sale of the house of -150,000, you would then enter 150,000 in the adjustment column as a positive number to zero out the activity because you are only a nominee in essence.

Then In the code column, you would identify this with the letter n

See here

This will seamlessly  zero itself out on the Sch D like this

For a more detailed step by step description on how to handle this situation, see HERE