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.
You'll need to sign in or create an account to connect with an expert.
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:
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:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
tyd1005
New Member
belles1979
New Member
381215151f87
New Member
nohearttekee
New Member
741386afe8f0
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.