We sold our home and split 3 ways. We do all qualify for the capital gains tax exemption of $250k per person. When filing on turbo tax, purchase price is asked when filling in the portion for the 1099-S. For each person, do we report the same original purchase price of the home or do we have to split the purchase price as well?
You'll need to sign in or create an account to connect with an expert.
Since the 1099-S was split into thirds, do the same for the basis (purchase price) of the home.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
77aa3cb72278
New Member
AJ1017
New Member
pkg04792
New Member
carolynpaine
New Member
Talknsing
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.