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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Form 5405
Form 5405
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ireitberger
Level 1
04-10-2023
10:37 PM
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Taxpayers bought their residence in 2008 and sold in 2022 so they have to file Form 5405 to report the sale and calculate the remainder of the credit to be repaid. Both spouses have to file separate forms even though they're filing a joint return.
The only way I think I can show sales price, cost, etc. on both forms is to split everything in half on the Disposition screen. But then I'm going to have 2 sales of residence on Form 8949. Won't that trigger something at IRS?
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