topic Joint Tenancy With Mother Passing Away in Investors & landlords

Joint Tenancy With Mother Passing Away

central — Wed, 11 Feb 2026 04:10:42 GMT

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.

Re: Joint Tenancy With Mother Passing Away

PatriciaV — Wed, 07 Feb 2024 20:51:19 GMT

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:

Re: Joint Tenancy With Mother Passing Away

Mike9241 — Thu, 08 Feb 2024 06:32:16 GMT

@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.

Re: Joint Tenancy With Mother Passing Away

central — Thu, 08 Feb 2024 22:25:37 GMT

Name on Deed and Mortgage.