AmyC
Expert Alumni

Deductions & credits

You gifted your 1/3 of the house to two people. For example: Let's say you purchased the house for $120,000 together originally. Then your 1/3 share is $40,000 so you gave them each $20,000.

 

There are many possible scenarios and we can't begin to guess your actual situation. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"