neilbrink Posted March 23, 2019 Report Posted March 23, 2019 Couple was married in May, 2018. Each one owned their own qualified residence and each one sold their individual qualified residence. Each one received a Form 1099-S at closing. I can only see that one qualified house can be used at the "Sale Principal Residence Input" tab on the Form 8949. How can I add the second residence to the Form 8949? Thanks. Quote
Lee B Posted March 23, 2019 Report Posted March 23, 2019 Didn't look this up, but my gut instinct says that you may have file MFS. Quote
jklcpa Posted March 23, 2019 Report Posted March 23, 2019 They can file jointly, but each of the two gain exclusions is calculated for each individually and limited to $250K for each, not a combined exclusion of $500K as any other joint couple would have. IN other words, if one as a gain of $300, it would have a taxable gain of $50K. So, it is acceptable to claim both on a joint return, but I can't tell you whether or not it is possible within ATX or how or where to input in that software. Is it possible to add a second 8949 and indicate that the first is for taxpayer and second one is for the spouse? Quote
mwrightea Posted March 23, 2019 Report Posted March 23, 2019 Report both on the 8949 and use the H code in column F putting the adjustment $ in column G. Quote
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