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Deductions & credits
I just had a chance to look at the title and original paperwork and it was JTWROS.
If I am understanding things thus far, technically my mother shouldn't have been issued a 1099-S as the sale of the house was both her primary (and only) residence for over 30 years, and below the $250,000 threshold.
But since she was issued one (with only half of the actual sale price listed), it may be in our better interest to simply file a state and federal return for the 1099-S.
Is my understanding correct?
Thanks!
‎December 17, 2023
11:22 AM