Question

I sold a 2nd home in a divorce but only like received half the proceeds should I put the total sale price or just what I received in the Proceeds line?

Forum|Forum|1 year ago
February 27, 2025
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If you received half the proceeds, report half the basis and half the selling costs. Also, be aware that you each will be entitled to the exclusion of capital gain on up to 250,000 each on the sale, if you both owned and lived in the home at least two of the last five years.

Home sale exclusion Topic 701

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