AmyC
Expert Alumni

Investors & landlords

If you live in a community property state, you will each account for half of the sale in your taxes. If you don't, decide among yourselves and look at the 1099-S form, whose number is there? Somebody's SSN is on the sales form already.

 

Yes, it looks like a $3,000 gain but don't forget to add your expenses of purchase and any improvements or assessments.

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