Did you get a Form 1099-S? If so, did it include the entire sales price or just your half? If not, just divide everything in half and report your figures on your return. Click on Federal Taxes (Personal using Home and Business) Click on Wages and Income (Personal Income using Home and Business) Click on I'll choose what I work on Scroll down to Less Common Income On Sale of Home (gain or loss), click the start or update button

Question

My marital home of 18 years was sold AFTER our divorce was final. There fore I only benefit from half of the sale income. How do I report that

Forum|Forum|5 years ago
April 10, 2021
2 replies
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ColeenD3

Did you get a Form 1099-S? If so, did it include the entire sales price or just your half?

If not, just divide everything in half and report your figures on your return.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button

S

Smrossi0312Author

Yes I did receive a 1099-S. Unfortunately it lists the entire sale of the home on me. I didn’t want to report only half without a corrected 1009-S. I was afraid I would get in trouble that way.

MaryM428

You do not need a corrected 1099-S. You just enter your half of the information and then keep tax records to explain why you you were not responsible for the full amount. If you are ever questioned about it, you will have the records to support what you entered.

S

Smrossi0312Author

It then asks me for the information regarding the original purchase of the home, and any home improvements. Do I also report 1/2 of those figures? For example is the house was originally processed at 100k and then sold at 150k.... I wood only report the numbers as 50k and 75k respectfully? And 1/2 the receipts of home improvements?
Thank you for the answers and your time! Greatly appreciated.