Hi Based on my divorce agreement, I owed my ex-husband 20,422 after our house was sold. But my 1099-s shows an equal split. Can I claim the 20k as a closing expense? TY!

beconforti · ‎March 10, 2025

I believe our 1099-s' were issued incorrectly as the total sale proceeds should have been split after the 20k was deducted from my half (and added to his). I am unclear how to reflect that I got 20K less than what my 1099-s shows. Thanks again.

MaryK4

You can also ask your ex-husband if he agrees to pay the tax on the amount, in which case you can do the adjustment to basis as you have indicated. You must look to the divorce agreement to see who the taxes were assigned to. You can also see if you qualify for the exclusion for sale of your primary residence (Section 121), in which case you may not have to pay on the gain. See Tax Aspects of Home Ownership: Selling a Home - TurboTax.

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Hi Based on my divorce agreement, I owed my ex-husband 20,422 after our house was sold. But my 1099-s shows an equal split. Can I claim the 20k as a closing expense? TY!