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April 10, 2022
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Dividing amounts on sale of a rental property?

  • April 10, 2022
  • 1 reply
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Hi--In 2021, I sold a rental property that I co-owned 50/50 with my brother. On the "tell us about this rental asset" page, it reminds me to enter 50% of the original purchase price, since that's my ownership percentage amount. That's clear enough, but my question is, should I also enter 50% of the sale price and associated expenses on the "Sales Information" page? It doesn't prompt me to do so but if I don't, it seems like the numbers will be way out of whack.  Thank you!

Best answer by PattiF

You should enter 50% of the sale price and expenses to ensure that everything is recorded accurately.

1 reply

PattiFAnswer
April 10, 2022

You should enter 50% of the sale price and expenses to ensure that everything is recorded accurately.

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