Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jko1952
New Member

Got divorce, sold home, how do I split capital gains with ex?

From only deals with total purchase price, improvements, sale price and expenses. The net gain from the house was a little over $300k, turbo tax says I owe capital gains on anything over $250k, but my ex got half that money, so i should have no liability.
1 Reply
Critter
Level 15

Got divorce, sold home, how do I split capital gains with ex?

You would each only report 1/2 the sale and if you did not get a 1099-S at closing and you lived in the home as a primary residence for 2 of the last 5 years then you don't need to report the sale at all. 

Dynamic AdsDynamic Ads
Privacy Settings
v