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Report capital gain on selling rental property - 50% shares
my wife and I sold a rental property in 2023 and need to report capital gains. I know only 50% of the capital gain will be taxable.
Question is we each owe 50% of the property.
Seems Turbo tax does not have an option to report that. If we each enter the full value of the capital gain, then the CG tax will be double.
How does turbo tax handle this?
thanks
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‎February 4, 2024
7:49 PM