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Sold main home because of divorce. How do I enter this information?
I received a 1099s with half the gross proceeds because we split the house 50/50. Do I input the full selling price or just my half? When I enter information about the cost basis, do I subsequently put 1/2 the full amounts or the full amount based on the answer to #1?
Do both my ex and I have to fill out the same information?
Regardless, I will be under the $250K gain for filing single. Does any of this get transmitted as part of the return in this scenario?
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Sold main home because of divorce. How do I enter this information?
Yes, since the 1099s is divided in half, the cost basis should be as well. And your ex-wife should do the same thing. Because you received a 1099s, you do need to include this on your tax return, and the information will be reported to the IRS, even if your gain is under 250K, and you qualify for the gain exclusion.
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