Sale of US Home and 1040R By Canadian

[batdude]

Quick question. We sold our US second home and are Canadian. It was held 50/50 between my wife and myself. Do we both need tax id numbers and both need to fill out 1040R forms for the capital gains?

If yes, then how do you show the 50/50 split. So on my 1040R form, there is capital gains area showing the purchase cost of the home and the sale price but there is no way to indicate that I only owned 1/2 of the home.

Thanks for any assistance.

[nelsona]

This is easily handled by simply both reporting half the sale. This is done all the time.
On your 1040NR, you show the purchase price of your 1/2, and on her 1040NR she shows the purchase price of her 1/2. Same for the proceeds.

You will both need an ITIN, which can be a pain to get.

[batdude]

Thanks!