I sold a house w/a partner. We file our taxes separately. Regarding the amount for sales expenses & adjusted cost basis, can we make the split something other than 50-50?

[KrisD15]

You could if your ownership was not 50-50.

But if the split is altered in order to evade taxes, that could be a problem. 

In that case you would need to prove that the split other than 50/50 was justified.

What you each contributed to a down payment, what you each claimed as Mortgage Interest Deductions and property taxes for the years it was owned would be scrutinized. 

There is no law that you MUST each claim half, but you should each claim the portion you each owned. 

[rachel_east]

Thank you!  We are separated and we just want the split to be fair.  The title company split our proceeds 66/34, so we were wondering if we should do something similar for the sales expenses and adjusted cost basis?

[Vanessa A]

As KrisD15 stated, you would split the cost based on what you put into it.  Why did the title company split is 66/34?  If one received 66% and the other 34%, then this would be the proper way to split it.

Since you are separated (assuming you were married) though, if you are in a community property state, the rules may be different and you may have to claim it 50/50.  Which state are you in?