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Investors and rental owners
So, I am looking at filing in 2020 capital gains for 2019 on the co-ownership sale of a rental property. When I test it in the 2018 software, on schedule 3, it only allows you to type in the Proceeds of deposition value, Adjusted Cost Base and Outlays. We are 50/50 co-owners and have reported that since we had the rental. The final sale value was $275K, initial value was $250K and outlays of $3500. So, if I do what you say, I would report Adjust Cost Base of $250K, Proceeds of deposition of $262,500 (half the gains) and outlays of $1750 (half) for each of us?
‎December 3, 2019
12:12 PM