Home sale and taxes help...

Aug 25, 2011
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Here is my situation.
In June of 2011, my mom bought a house with the intent of renting it out. she has 50% and I have 50% ownership. In December of 2011, the house was sold due to some issues. We made no money from the sale and lost money. (No proceeds were made during the 6 months we owned it) I have all the closing statement papers, for 1098 etc. but I have no idea how to file this on my tax return. I would like to use turbo tax, but don't want to screw this part up. Should I just find a CPA? Or is it not that difficult to file something like this. Other than this issue, my return should be fairly straightforward.


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