turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

BWC51
New Member

Dividing amounts on sale of a rental property?

Hi--In 2021, I sold a rental property that I co-owned 50/50 with my brother. On the "tell us about this rental asset" page, it reminds me to enter 50% of the original purchase price, since that's my ownership percentage amount. That's clear enough, but my question is, should I also enter 50% of the sale price and associated expenses on the "Sales Information" page? It doesn't prompt me to do so but if I don't, it seems like the numbers will be way out of whack.  Thank you!

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
PattiF
Expert Alumni

Dividing amounts on sale of a rental property?

You should enter 50% of the sale price and expenses to ensure that everything is recorded accurately.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PattiF
Expert Alumni

Dividing amounts on sale of a rental property?

You should enter 50% of the sale price and expenses to ensure that everything is recorded accurately.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies