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February 23, 2021
Question

I got divorced this year

  • February 23, 2021
  • 1 reply
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Based on the questions asked in turbotax premier, it seems as though I need to report the entire sale, which results in me needing to report the expenses and the gains... But shouldn't they be split for both of us? How do we report that on our individual/single tax forms?

1 reply

February 23, 2021

We can't see your tax return to know what you sold so we can't advise you how to report it. Is it stock, bonds, primary residence, second home? See the information below.

 

Generally, you would report only your share of the proceeds. If you receive a Form 1099 for amounts that actually belong to your ex-husband, you are considered a nominee recipient.

  • You must file a Form 1099 with the IRS (the same type of Form 1099 you received) for your ex-husband showing the amount allocable to him.

To enter stocks, see Where do I enter a 1099-B?

To enter bonds, see Where do I enter a 1099-INT form?

To enter the sale of your primary residence, click here.

To enter the sale of a second home, click here

 

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