https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-tenant-in-common-amp-i-sold-our-house-but-my-turbo-tax-doesn-t-acknowledge-tics-should-i-input/01/285614#M34737 <P>I will receive the $250,000 exemption on my half of the capital gains, but I need to know the proper way to handle reporting them.</P><P>Will it be okay to enter half of the capital gains on my tax return and the other owner report half on his?</P> Mon, 03 Jun 2019 17:33:53 GMT yontevlipman 2019-06-03T17:33:53Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-tenant-in-common-amp-i-sold-our-house-but-my-turbo-tax-doesn-t-acknowledge-tics-should-i-input/01/285614#M34737 <P>I will receive the $250,000 exemption on my half of the capital gains, but I need to know the proper way to handle reporting them.</P><P>Will it be okay to enter half of the capital gains on my tax return and the other owner report half on his?</P> Mon, 03 Jun 2019 17:33:53 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-tenant-in-common-amp-i-sold-our-house-but-my-turbo-tax-doesn-t-acknowledge-tics-should-i-input/01/285614#M34737 yontevlipman 2019-06-03T17:33:53Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-that-is-the-only-way-you-can-do-it-if-you-received/01/285623#M34740 <P>Yes. That is the only way you can do it. If you received a 1099-S for the sale with the entire amount listed as sales price, you will need to adjust the basis to compensate. For more details in this situation, see below.&nbsp;<A href="https://ttlc.intuit.com/replies/5667421" target="_blank" rel="noopener">https://ttlc.intuit.com/replies/5667421</A></P> <P>&nbsp;</P> Tue, 10 Mar 2020 20:42:04 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-that-is-the-only-way-you-can-do-it-if-you-received/01/285623#M34740 Coleen3 2020-03-10T20:42:04Z