Hello,
I have a quick question. I hope the answer i've read so far applies to my scenario as well.
I live in California, and I've sold my house of 5+ years. The property was under my name and my father's name and we got a 1099-S. Now, house was sold at the end of 2020, and we finally found a new home and purchased it officially in 01/2021. My parents had already filed their taxes, and I would like to just report all this on my return so they don't have to amend their return. Is this possible with the solution that was recommended, or will they have to amend their returns to report the sale (gains) of the old property. Now the new property is under my name is my mother, and the money for the new home did pass through her bank account.
Any advice would be greatly appreciated. Thank you.
