I was only a co-signer on a home loan with my daughter. She sold her home and I received a 1099-S for half the gross proceeds. Should I enter this 1099-S on my taxes?

[MichaelL1 · Accepted solution]

IRS matches up these documents to your return.

First, talk to daughter and make sure she has reported this, 100% of the proceeds, and I would ask for a copy of her return.

Then I would not report the income on your return.  However IRS very well may send you a letter and you will need to let them know what took place, and show them evidence (only if requested) that your daughter owned the home and this is all her income.