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February 19, 2025
Question

If a home sells that had three owners what would the selling price be for tax purposes?

  • February 19, 2025
  • 1 reply
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need to determine my part for taxes

    1 reply

    February 19, 2025

    You would report your portion of the selling price and expenses to report on your tax return. You'd calculate your portion based on your ownership percentage in the home. For example, if it was equally owned by all three people and it sold for $300,000, each person would report $100,000 as the sales price.