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For my home sale last April, my share was half and my partner used the other half. How do I report that?

 
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3 Replies
MaryK4
Expert Alumni

For my home sale last April, my share was half and my partner used the other half. How do I report that?

You would each report one half of the income and basis to determine if you have any taxable gain.

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For my home sale last April, my share was half and my partner used the other half. How do I report that?

Thank you. Yes, I understand that but ran out of characters and had to truncate my original question. What I really was trying to find out was whether there was a place where I could select to use 50% or 50/50 as I seem to recall such a thing for my share when I first used TurboTax last year. Ultimately this year, I cut everything in half related to the purchase, sale prices and deductions but I was really looking for a button or other form field that did it automatically.

MaryK4
Expert Alumni

For my home sale last April, my share was half and my partner used the other half. How do I report that?

TurboTax has that feature for rental properties, but unfortunately it does not calculate it for the sale of home- but that is a great suggestion and I will pass it on.

@pchomepage

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