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Do I enter the net proceeds from the sale of a rental property ($218K)? If there is a 50% capital gain tax and we are co-owners (spouse-50%) how do I enter this?
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January 10, 2020
1:17 AM
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Investors and rental owners
TurboTax does the work for you as long as you each enter in your own capital gains at whatever percentage rate you each own the property.
Please follow the directives provided below for further assistance:
From TurboTax:
From the CRA:
- Complete guide: Capital Gains
- Partnership
- Real Estate
- Real estate, depreciable property, and other properties
Footnote: You have indicated that you are using TurboTax Live Review & Assist – please refer to the link provided below to contact our team of experts if needed:
January 28, 2020
11:55 AM