Sold a rental house and got two 1099-S forms (only half was on my name). how to file?

[zhijlu]

I paid for the house, been file and pay tax for the house and received all the money from sailing the house. The closing house insisted issue two checks with 2 1099-5 forms with 50-50 split with my son, since his name was on the title.

How would I file?  Put in the whole sale price, or only 50% and ask my son to file the 1099-S?

I called IRS help line but they do not have an answer.

[Ashby · Accepted solution]

Yes, unfortunately, you will have to split the sale with your son. Each of you will have to split proceeds, expenses of sale, and basis 50/50. Then, you just have to work out the tax consequences among the two of you. It's a pain, but really the only way it can be done. 

[zhijlu]

I will file 50/50, but it will not technically correct.  My son will enter 50% of the depreciation amount accumulated during the past years, but in reality, they were all claimed in my tax returns.  If I claim all the depreciation amount on my return, hes will shown a much bigger lose. Which way should I go?