jtax
Level 10

Deductions & credits

It the 1099-S in your social security number as well as your name?

 

If it is in your mother's SSN, I would report the sale on her return only even if it's in your name.

 

If it is in your SSN as well as your name, then you probably have to report the 1099-S as a nominee for your mother. That is somewhat complicated. See https://www.irs.gov/instructions/i1099gi#en_US_2023_publink1000286907 ... you might want a professional (CPA or enrolled agent) to do that for you. I am not sure how to tell turbotax how to do a nominee for a 1099-S. For 1099-DIV/INT that is easier. Perhaps someone else well respond.

 

For future refence, the way to do this "right" from the beginning is that as the attorney-in-fact (you're not actually a power of attorney - "POA" ... the POA is the document that makes you the attorney-in-fact or agent), you sign all documents in your mother's name (she is the "principal") like

 

Mary Smith by John Smith POA

 

or 

 

Mary Smith by John Smith, attorney-in-fact

 

and use her SSN. The only time I would give my SSN to a financial company as an attorney-in-fact would be so that they could identify me, for example, to setup online access to the principal's account. In that case I would want to be certain that no income would be reported in my SSN to avoid the need treat as a nominee and to issue a 1099 to the principal.

 

 

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