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bkayner1
New Member

Do I need to include the following sale in my tax return? My parents and I sold a home. I did not receive any income from the sale.

My parents purchased the home in 2000. My name was included in the purchase because I was to live there while attending college. They sold the house this year. I have not been paying the mortgage, property taxes or anything on the house. I received no money from the sale. The proceeds were deposited into my parents' account. 

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LisaBr
New Member

Do I need to include the following sale in my tax return? My parents and I sold a home. I did not receive any income from the sale.

Since you have no financial gain or loss from this home and did not receive any funds for the sale,                             there is nothing for you to report. 

Also, you do not need to report the sale unless you receive a 1099-S. However, since you received no money for the sale, this would be unusual.

The following article may give you some more valuable information on the sale of a house:

https://turbotax.intuit.com/tax-tips/home-ownership/tax-aspects-of-home-ownership-selling-a-home/L6t...

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1 Reply
LisaBr
New Member

Do I need to include the following sale in my tax return? My parents and I sold a home. I did not receive any income from the sale.

Since you have no financial gain or loss from this home and did not receive any funds for the sale,                             there is nothing for you to report. 

Also, you do not need to report the sale unless you receive a 1099-S. However, since you received no money for the sale, this would be unusual.

The following article may give you some more valuable information on the sale of a house:

https://turbotax.intuit.com/tax-tips/home-ownership/tax-aspects-of-home-ownership-selling-a-home/L6t...

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