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April 14, 2022
Question

Capital Gains for me on Mom's house (joint tenants)

  • April 14, 2022
  • 1 reply
  • 0 views

I was a joint tenant on my Mom's house which we sold last year.  That was her primary residence.  I did not live in the house.  I presume I would have to report the capital gains on my share of the house (It's not a huge amount) - where do I do that?  We didn't receive any form from anyone.  Also if it is listed on the Fed return would that also list on my CA return?

1 reply

ColeenD3
April 16, 2022

Include your portion of the house under the Investment section as a second home.

 

TurboTax Online

  1. Click on Federal > Wages & Income
  2. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.  If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
  3. If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX?  Click the Yes box.
  4. On the screen,  OK, what type of investments did you sell? mark the Other box and click Continue.
  5. When you get to the screen, Now we’ll walk you through entering your sale details enter the details of the sale.  You will be able to select the type of investment in the first box (second home, land, etc.) 
  6. Enter the requested information and click Continue when done.