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frefall2u
New Member

How do I figure out investment income on sale of home with two owners? It is my father's main residence and I was joint tenant with survivorship. Do I just half the value

He will use it as main home sale but can I use this Turbo Tax Deluxe and just half the number values in the investment section- value for proceeds, cost basis etc?
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Accepted Solutions
PatriciaV
Employee Tax Expert

How do I figure out investment income on sale of home with two owners? It is my father's main residence and I was joint tenant with survivorship. Do I just half the value

Yes, if you received half the proceeds from the sale of a property that was not your primary residence, report half the transaction under Investment Sales (as the sale of a second home).

The easiest way to find this section of TurboTax is to use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "investment sales", hit Enter, and click on "jump to investment sales" to go directly to beginning of this topic.

Or go to My Account >> Tools >> Topic Search. Type in "investment sales", then click the topic in the list to go directly to the start of this section.

(If you are using the mobile app and don't have My Account or Tools on your screen, try logging into TurboTax from a laptop or desktop browser.)

View solution in original post

1 Reply
PatriciaV
Employee Tax Expert

How do I figure out investment income on sale of home with two owners? It is my father's main residence and I was joint tenant with survivorship. Do I just half the value

Yes, if you received half the proceeds from the sale of a property that was not your primary residence, report half the transaction under Investment Sales (as the sale of a second home).

The easiest way to find this section of TurboTax is to use the Search box at the top right side of the TurboTax header. Click on the magnifying glass, type in "investment sales", hit Enter, and click on "jump to investment sales" to go directly to beginning of this topic.

Or go to My Account >> Tools >> Topic Search. Type in "investment sales", then click the topic in the list to go directly to the start of this section.

(If you are using the mobile app and don't have My Account or Tools on your screen, try logging into TurboTax from a laptop or desktop browser.)

View solution in original post

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