Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
dwdrff
New Member

Daughter selling house that is in her and our names.Mortgage is in ours but she has made payments. will we have tax problems with capital gains from sale?

 
1 Reply
CarolynM
Level 1

Daughter selling house that is in her and our names.Mortgage is in ours but she has made payments. will we have tax problems with capital gains from sale?

You will not have a problem on your taxes if she reports the entire sale on her tax return.

As co-owner, she can receive the proceeds. 

It is not uncommon for 1099-S reporting home sales to be modified on home sales in cases of joint ownership.

Dynamic AdsDynamic Ads
Privacy Settings
v