Question

How to show shared income of disposal of capital asset?

Forum|Forum|3 years ago
May 3, 2022
1 reply
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I sold a building along with 3 other people that was a rental property. How do I show that it was shared between 4 people and that the capital gains is split between 4 people?

TurboTaxSusan

You would need to enter only your portion of the Proceeds of disposition, Adjusted cost base & Outlays and expenses. Ex: If the property was bought for $40,000 and then sold for $80,000, you would enter $10,000 as the cost base and $20,000 as your proceeds.