Entered into commonlaw in 2015.It was her home,I matched original down payment.In 2017 I left relation and only got that amount back. How do I record sale of residence?
031486
1 Best answer
TurboTaxBrenda1
Moderator
Oct 30, 2019 7:43:48 AM
You will then enter it as you owned 50% of the value of the house. Then deem the disposition as your 50% - which you'd be entitled to since you were actually buying the house since your name was on the deed.
3 Replies
TurboTaxBrenda1
Moderator
Oct 30, 2019 7:43:46 AM
Was the house in your name also?
jmorchyk
New Member
Oct 30, 2019 7:43:47 AM
Yes. My name was added to the title when I moved in with her. I only asked for the amount i put in, not based on current valuation
TurboTaxBrenda1
Moderator
Oct 30, 2019 7:43:48 AM
You will then enter it as you owned 50% of the value of the house. Then deem the disposition as your 50% - which you'd be entitled to since you were actually buying the house since your name was on the deed.