Both of our children sold homes this year that we were co-signers on. We did not pay the mortgage payments on the homes they did as it was their primary residence. All of the proceeds of the sale went directly to them. We received a 1099-s for one of the sales showing our portion of the proceeds was $0, however on the other one the bank made the check out to all 3 of our names but all of the funds were deposited into my daughter's account. We did not receive a 1099-s for that one. Do we have to pay taxes on that one since the check was made out to all 3 even if she kept the money?
