TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Confusion about quit claim deed

Forum|Forum|3 years ago
January 31, 2023
1 reply
0 views

I was given my home via quit claim deed by my sister in 2018. My sister bought the home for 205k in 2010. I have lived in the house since 2010. I don’t have any other paperwork, besides the deed itself. I sold the house in 2022 for 445k.

How do I report this? My sister doesn’t have the paperwork from when she originally bought the house and (although I know for sure she paid 205k).

Level 15

If your sister paid $205k then your cost basis would be $205k. If you want to verify or are trying to find documentation you can go to your county courthouse recorder of deeds. They have the records of all sales on the house. Since this was a home you lived in you would enter the sale by clicking on the following:

Federal
Income
Show more next to Less Common Income
Start next to sale of your main home
Then walk through and enter the amount your portion of the sale and expenses

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Level 2

Thank you for your help. This makes sense! Appreciate you!