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Sharie 12
March 7, 2025
Question

Co-owned home but received more than 50% proceeds

  • March 7, 2025
  • 1 reply
  • 0 views

What do I report if I go co-owned (owned 50%) of a home and received 60% proceeds.

    1 reply

    V
    Vanessa A
    March 7, 2025

    If you received 60% of the proceeds from the sale of the home and you contributed to 50% of the purchase and ownership of the home, then you would enter 60% of the proceeds as the amount you received and 50% of the cost basis as your cost basis. 

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