How do I handle a 1099-s for a property that I did not originally purchase and was just put onto the deed to obtain a loan to assist in purchasing another house? These are a primary residence but I personally do not own the property that was sold or the new property that was purchased from the sale of the original house. They are both in my boyfriend’s name and not mine. My name was only added to obtain a loan so the second property could be purchased before the original property was sold. We both received 1099-s that have the total asset value of the entire sale. I did not put any funds or were part of the original purchase of the first property. My name is not on the second property purchased after we sold the first since we are not married. He wants to claim all the assets so how do I go about doing this without having any tax penalty on me since I am not the owner. I cannot figure out how to do it on turbo tax. My name was only added the original deed only a few months to obtain the loan. Please advise
