topic How to file TurboTax - split a investment house with someone in Investors & landlords

How to file TurboTax - split a investment house with someone

lynnlli1 — Mon, 09 Mar 2026 09:13:25 GMT

Hi Everyone,

I am filing TurboTax by myself. Me and my ex had a rental house sold last year.

Do I use percentage of this asset or I enter by myself. If I enter by myself, there is a question: "Asset Sales Price" How do I enter? the sale price is 400K. If I own 20%, should I enter 80K or 400K? and what should be the amount for "Asset Sales Expenses". Everything should multiply by 20%?

Thank you for your help!

Re: How to file TurboTax - split a investment house with someone

Critter-3 — Thu, 03 Mar 2022 18:29:07 GMT

Have you not been depreciating the property in the past ? Or reporting the income/expenses on the Sch E ?

The form 1099-S for the sale ... was only one issued or was one issued to each of you ?

Re: How to file TurboTax - split a investment house with someone

lynnlli1 — Thu, 03 Mar 2022 18:55:26 GMT

both were issued 1099-S. for last 2 years, the house was reported by only me. I pay all expenses and takes rental. the house was depreciated in the past. just I do not know how to enter the sale price.

I own 20%, he own 80%. He is willing to pay tax for the gains. Another question, If we want to change the portion for gains, how to change 1099-S?

Re: How to file TurboTax - split a investment house with someone

lynnlli1 — Thu, 03 Mar 2022 19:05:46 GMT

on my 1099-S: Gross proceeds is 80K. his is 320K.

Should I enter only 80K for sale price? or 400K? Thank you so much