dorinagar
New Member

Deductions & credits

I have a situation where I was on the deed as joint owner of a condo where my father lived since 2009. I never lived there and did not contribute to maintenance or property taxes. We sold it in 2022 and my father kept all the proceeds.  I received a 1099-S from the title company for half the proceeds. Do I reflect half the sale on my tax return or somehow assign the 1099-S to my father? If I reflect half the sale on my tax return do I get half the benefit of the exclusion for principal residence of my father?