wiyfb
New Member

I owned a two condos joined into a one personal residence. Ten years later they were split and sold as two units, so two forms 1099-S. How to report for gain exclusion?

The realtor first listed the units as a single (5-bedroom) unit, but it would not sell. The total gain from the two units was under $250k.  Should I add up the proceed numbers from the Forms 1099-S and report it as a single number? Should I attach a statement explaining that a single residence was sold in two transactions?