Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- I have new client who got divorced in 2020. She had a joint rental property with her ex-husband which she sold in 2020. How should I show rental property sale in 2020 on her tax return filing single
I have new client who got divorced in 2020. She had a joint rental property with her ex-husband which she sold in 2020. How should I show rental property sale in 2020 on her tax return filing single
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
sk75
Level 1
03-20-2021
02:32 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have new client who got divorced in 2020. She had a joint rental property with her ex-husband which she sold in 2020. She is liable for 50% gain on the rental property sale. How should I show rental property sale 2020 single tax return? Should I create a mock 2019 return and transfer all data to 2020? Or show the rental property sale on F 4797 in 2020 itself?
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
sjrcpa
Level 15
03-20-2021
02:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If she owned 50% of it you report 50% of everything on her 2020 return.
The sale is reported on Form 4797.
Ex-AllStar
