I'm trying to figure out Capital gains from the sale of a rental property. The client bought the property and " flip it "  with help of an investor, they went 50/50 on improvements of the property with the agreement that when it sells they distribute gains the same way (50/50). The property was rented for less than a year so it is a short-term sale. 

after closing the sale, the title company deposited (with seller approval)  the money to 2 bank accounts 50%to the property owner and 50% to the investor. Here is my question how or where do I enter gains that were distributed to the investor? my client receive a 1099-S for full sale amount