In the divorce (Feb 2018) i got 55% of the house sale. When calculating capital gains do I use 55% of the original house price and 55% of the 30 years of improvements?
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1 Best answer
MinhT
Expert Alumni
Jun 5, 2019 10:53:48 PM
As your share in the house is 55%, you should report 55% of everything (cost basis, improvements, sales expenses, selling price).
1 Replies
MinhT
Expert Alumni
Jun 5, 2019 10:53:48 PM
As your share in the house is 55%, you should report 55% of everything (cost basis, improvements, sales expenses, selling price).