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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)
February 23, 2023
9:15 PM
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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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February 27, 2023
11:36 AM