AS68
New Member

Sale of your Principal Residence with wife

My wife and I have a deemed disposition to sell our principal residence. We bought the house together and sold together. We are filing a joint return.

 

When I enter ACB and proceeds do I need to put the full amount or divide the number by our ownership % (example, entering 100,000 (full ACB)  vs dividing 50,000 each (split the ACB by 2)

Investors and rental owners

Yes you will enter each 50%. For more information, please see our TurboTax article: Reporting the Sale of Your Principal Residence.

 

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