Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 27, 2020 12:50:33 PM

Schedule 3: How to split capital gains on investment property?

My wife and I sold a real estate investment property last year, co-owned 50/50. How do we split the capital gains on Schedule 3?

 

Do we split all the numbers 50/50, and enter the halved numbers on all the columns (Total Proceeds, ACB, Expenses)?

 

Thank you

0 1 564
1 Replies
Level 13
Mar 17, 2020 3:15:13 PM

Each spouse must separately report the appropriate percentage on their own return. Please review the link provided below for more information:

 

Footnote:  We at TurboTax want to encourage you and your close family to take all necessary precautions to ensure your safety. Please review the article provided below for more information: