Level 11
03-01-2021
07:44 AM
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If i understand the transaction, you don’t have to make yourself crazy with basis calculations. Report the 200k on the 1099s for sale price and 150k each for the purchase price. Take the 250k exclusion and there’s no cg. Use the sale of home worksheet and you get the entry on Sch d.
If at first you don’t succeed…..find a workaround