sale of vacation home is handled like a stock sale.
enter sales price
cost = tax basis + selling expenses - there is no separate reporting for sales expense so you have to do the math
use code N
Report the transaction on Form 8949 as you would if you
were the actual owner, but also enter any resulting gain as
a negative adjustment (in parentheses) in column (g) or
any resulting loss as a positive adjustment in column (g).
As a result of this adjustment, the amount in column (h)
should be zero. However, if you received capital gain
distributions as a nominee, report them instead, as
described under Capital Gain Distributions in the
Instructions for Schedule D (Form 1040).
your adjustment would have to be for 1/2 the gain
or you could use code o
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this assumes that ex did not get 1099-S for 1/2 the proceeds - would have been easier to report especially as nominee for ex you supposed to file a form indicating you were nominee
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Nominee/middleman returns.
Generally, if you receive a Form 1099 for amounts that actually belong to another person, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received) for each of the other owners showing the amounts allocable to each. You must also furnish a Form 1099 to each of the other owners. File the new Form 1099 with Form 1096 with the IRS Submission Processing Center for your area. On each new Form 1099, list yourself as the “payer” and the other owner as the “recipient.” On Form 1096, list yourself as the “Filer.” A spouse is not required to file a nominee return to show amounts owned by the other spouse. The nominee, not the original payer, is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner.
