turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

bryanm365
New Member

My wife and got married in 2018, shortly after we sold her property! Since we were married both of our names are on the documents! Do I need to show this income on mine?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

My wife and got married in 2018, shortly after we sold her property! Since we were married both of our names are on the documents! Do I need to show this income on mine?

If it was her primary home that was sold, and she lived in it for more than two years, the capital gain, up to $250,000, is excludable.
Why aren't you filing as Married Filing Jointly. That's usually best. See <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately">https...>

If one of you has a debt that the IRS may offset, you can still file jointly and use injured spouse relief. You can file jointly and file an Injured Spouse Allocation Form 8379 with your return. To access that in TurboTax, type> form 8379, injured spouse <in the find (search) box. Then click find. Then click on Jump to…. You will be taken to questions about Innocent Spouse and Injured Spouse. Do not check anything on Innocent Spouse (that comes up first) and check the information on Injured Spouse.

My wife and got married in 2018, shortly after we sold her property! Since we were married both of our names are on the documents! Do I need to show this income on mine?

No, as long as she shows it all on hers

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question