How do I deduct capital gains when I own the property with someone else?

I was part owner of a house that was sold. I do I spread the capital gains to the other owner in turbo tax?

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1 Best answer

Level 15

Oct 18, 2022 6:44:13 AM

Did you receive a separate tax reporting statement (1099-S) for your share?

If not, simply enter your share of the purchase price, improvement costs, sales price, and selling expenses.

Level 15

Oct 18, 2022 6:44:13 AM

Did you receive a separate tax reporting statement (1099-S) for your share?

If not, simply enter your share of the purchase price, improvement costs, sales price, and selling expenses.