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Investors & landlords
AmyC, not clear which of the option A-D you are recommending.
From my perspective, “cost basis” ’is not the same thing as “income” and since the IRS asked for half the “income” that’s why I was leaning towards option B or C. In other words, “gain” is certainly something I can think of as income.
I don’t believe a “nominee” is the same as a community property spouse (and from your response I think you agree) so that would lead us to use Option C (enter Code O for other)? Do you agree?
January 28, 2025
5:23 PM