- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Someone posted something concerning getting a co-signer off of a deed, but deeds don't have co-signers and the first post in this thread is essentially correct; absent an agreement to the contrary, the default position would be income/expenses split according to the percentage of ownership.
If "Dad" is not one of the grantees on the deed (an owner), then @Sarah515 would be an owner in severalty and have 100% control of the property (again, absent an agreement to the contrary, but a deed will almost always control). As a result, @Sarah515 would report all of the income and expenses on @Sarah515's individual income tax return.
‎December 5, 2023
1:26 PM