Capital gain on 1% ownership

[Nezzer]

See the thread below. Almost identical situation.

Capital Gain - Rental property

Taxpayer (son) sold rental property Father is on title Taxpayer said father 1% owner on paper but they (taxpayer) received all funds TRUST LEDGER STATEMENT: $442,000 paid to Taxpayer $38,000 paid to father Note: Property initially principal residence for taxpayer but shortly after purchase turned into rental property - they moved into another home (change of use and new cost base is FMV @ date of change). According to taxpayer and verified by their realtor property didn’t change in value i…