My spouse and I sold our primary residence. We are married, filing separately. All the forms show full costs/prices,etc. I need to divide it equally between us. How?

[martinelli-holst]

We exceed the 250K/person max, so we need to report the income.

[Vanessa · Accepted solution]

You will just split it.  You will enter all the information on each of your returns such as payer info and then only include half of the income expenses reported on the forms on each return.

When you are married filing separate returns, your returns will still include the other spouses' Name and SSN so they are still linked in a way.