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    wiebesam
    New Member

    I was added to the deed of my mom's house in 2019 when I cosigned her mortgage . We sold it in 2024. Not a rental. How do I calculate capital gains?

     
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    yesterday
    last updated ‎March 15, 2025 8:34 AM
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    TurboTaxSusan
    Moderator
    Moderator

    I was added to the deed of my mom's house in 2019 when I cosigned her mortgage . We sold it in 2024. Not a rental. How do I calculate capital gains?

    You would have to figure out the fair market value (FMV) of the house in 2019. You would divide it based on ownership percentages, and use your portion as your purchase price. You'd do the same for the amount that the house was sold for.

     

    Please note that we're still working to finalize the principal residence form to align ourselves with CRA requirements. We hope to have this completed ASAP, but until then you will not be able to print or file your return. We appreciate your patience.

     

    You can see a list of Forms that still locked here: Why does TurboTax say my forms are locked or haven't been finalized?

     

    yesterday
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