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New Member
posted Apr 8, 2022 12:45:13 PM

Can i entr 0% for the amount of my principal residence owned by others?

Will not allow me to enter 0% for the amount of my principal residence owned by others

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1 Replies
Level 5
Mar 1, 2023 9:29:59 PM

When answering the question: How long were you living at your principal residence?

For the question: (your name’s) principal residence for: select “all the years owned”.

For the question: % owned by (your name): enter 100%.

For the question: % owned by anyone other than (your name): enter 0%.

If the house that you sold was not your principal residence for some of the years owned, it will still trigger capital gains even if you owned it 100%.

 

If you own 100% of the property, you can probably leave the "owned by anyone else" blank and just put 100% for the "owned by me" section. 

 

For more information, please see:

  • How do I report the sale of my home (principal residence)?

  • Reporting the Sale of Your Principal Residence

 

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