If you received 50% of the sales price then you will enter it by selecting the following:
- Federal
- Income
- Show More next to Investment Income
- Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Then walk through the questions and enter your share of the sale and expenses.
- You will also enter 50% of your cost basis and selling expenses. Meaning, if the house cost $100,000 and you put $25,000 into remodeling it, then you would enter $62,500 as your cost basis
If you did not receive 50% of the proceeds, then you can issue your ex-husband a 1099 telling the IRS that all proceeds that were assigned to you went to him. You will need to send a copy to him and a copy to the IRS. You will not report the 1099-S on your return if you did not receive payment.
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