I am part-owner (1/8) in property (vacant land) located in another state. The property was originally purchased in 1987, and it was gifted to me and my siblings in 1994. The property was sold in 2025. I don't see where Turbotax allows me to calculate the gain, and then calculate my share of the gain. When I enter the information, do I just report my share of the cost, my share of of the sale price, and my share of the gain? That's the only thing that makes sense to me.
I have the original purchase documents and the closing statement from the sale of the property.