10409000
Level 4
02-05-2023
01:07 PM
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good morning, I have a client that needs to report a sale of a home. They were boyfriend/girlfriend not married, lived in the home together for 1.5 years so they don't qualify for an exclusion. I am wondering how do i report the sale of the home when it was two individuals on title? Do I just report 50% of the gain on each person's taxes? I was kind of lost on how to report that and thinking maybe I should refer them to another tax preparer with more experience. your help is greatly appreciated. Thank you!
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