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How do I report the sale of rental property that I had 1/3 partial interest in? The 1099-S shows the entire gross proceeds, not my portion of proceeds.
There are 3 interested parties, I am one and my two siblings are the others. Each of us received a 1099-S showing the same gross proceeds, not our 1/3 portion as paid at closing. Do I simply use 33.333% of all values on all basis and home sale worksheets?
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‎June 5, 2019
11:20 PM