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  1. #1
    Junior Member grahamspider's Avatar
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    how to split proceeds of real estate sale with ex-wife?

    my ex-wife and I sold a house and then split the net proceeds as part of our divorce settlement.

    However, on the federal tax form I don't see anywhere that would allow for noting the proceeds were split 50-50. It looks like we are both expected to show the gross proceeds of the sale and pay taxes on it.

    How is this handled on the tax forms? I'm doing my taxes online and now I live in China so I don't have an USA accountant. Please help.
    I am using TurboTax Online.

  2. #2
    Marla
    Guest
    If you are not filing a joint tax return, then the net proceed you got after the partnership was dissovled and the house sold is the amount to report of 50%, if that is your gross. It's now only a capital and a gain.

  3. #3
    Yissela A
    Guest
    What software are you using?

    I can guide you if you are using lacerte,


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