Hi,
I jointly owned a house with my spouse and am now doing the CGT return for it (we rented it out for the last few years of ownership). On the ROS form 11, for Total Considerations of Disposals, do we each put the total sale value and then under gains/losses put the individual portion of gain/loss? (we file separately as we live overseas)
For example:
House purchased for 500k, sold for 400k, loss is 100k.
On each of our returns, do we use these figures
Total Considerations of Disposals: 400k
Losses in the year: 50k (as it was a joint property)
Thanks for any guidance!
I jointly owned a house with my spouse and am now doing the CGT return for it (we rented it out for the last few years of ownership). On the ROS form 11, for Total Considerations of Disposals, do we each put the total sale value and then under gains/losses put the individual portion of gain/loss? (we file separately as we live overseas)
For example:
House purchased for 500k, sold for 400k, loss is 100k.
On each of our returns, do we use these figures
Total Considerations of Disposals: 400k
Losses in the year: 50k (as it was a joint property)
Thanks for any guidance!