Joint Tenancy With Mother Passing Away

[central]

In 2011 my Mother and I signed a mortgage note with both of us listed as a joint tenancy/co-signer on a 2-flat which she lived on one floor with the other being rented out. my Mother took on the responsibility for the tax filing for the property herself. I have all the yearly tax returns and cancelled checks showing she filed alone on the property. she passed away halfway through last year and the property automatically passed onto me. What IRS forms should I file to show the property is in my name?  It counts for rental income as of 8-1-23 for me so how do I go about reporting it on my tax forms.  Do I put the whole 1098 mortgage interest and the property tax for the 2023 year or just until the day she passed?

Thanks to anyone that can help out with this.

[PatriciaV]

The first seven months (or 7/12) of rental income and expenses should be reported on your mother's final tax return. The remaining five months (or 5/12) should be reported on your tax return. You'll need to calculate the splits yourself. This includes property taxes and mortgage interest.

Was the entire property rented after your mother passed? Or was only half rented? TurboTax will offer you options when you create the rental property. One is for a multi-family property, which describes your situation. Answer the remaining questions for the period you owned the property, with regard to ownership, rental days, etc. Look for blue "Learn More" links on the entry screens that provide specific help throughout the program.

Additional Information:

• IRS Pub 527 "Residential Rental Property"
• Where do I enter income and expenses from a rental property?
• What kinds of rental property expenses can I deduct?
• How do I handle capital improvements and depreciation for my rental?

[Mike9241]

@central . it's unclear. were you on the title to the property (your name on the deed) or only the mortgage. It makes a big difference. 

[central]

Name on Deed and Mortgage.