Real Estate property

[MAYFERNANDEZ]

I have a clients(they're sibling) and parents give them the property as a gift and they put it rental property for 2 years and planning to sell it now, How I can split the capital gain to both of them? When parents give this property to them, it's been a rental property of years and they have a lot of equity already. Please advice.

[Just-Lisa-Now-]

Which software are you using?

How have the rental income and expenses been reported each year?  50/50 on Sch E of each sibling's 1040 return?  Did you use the parents basis to set up the asset depreciation on the rental?