Sale of Home After Divorce

[CindyAnderson]

TP divorced in 2023.  TP lived in host until sold in 2024.  $400K gain to report.  Former spouse retained share in home and net funds after sale were split.  1099-S was not provided by closing agent.  To benefit from the capital gain exclusion, do I just split all the figures in half and report only TP's halves as the sales price and expenses?  Do I split the basis in half?  Is there a worksheet or form I should use to apportion everything so both parties can use the exclusion.

[sjrcpa]

The 1099-S was in the closing documents package.

If they both owned it and the split was 505/50 then they each report half of proceeds and half of basis.

I work it up on an Excel spreadsheet.

[BobKamman]

The house was still in both names when sold?  Maybe no 1099-S was issued, or maybe the client is too lazy to track it down.  Divorced people are sometimes like that.  I would want to see the 1099-S, or at least the closing statement, before going much further.