Please try posting your situation in complete sentences with details. There is plenty of room for you to do that instead of trying to put a complicated situation in shorthand for us to interpret.
I was limited to 170 characters by the software. While in the process of getting a divorce, my son sold his house that was jointly owned with his wife. He wanted to buy a house for himself, but his wife wouldn't sign the papers even though there was a document saying she had no liability. That being the case, I purchased the home with the intent of selling it back to him at my purchase price once the divorce is finalized. He is paying me monthly to offset the home equity loan that I used. I don't plan to try to take any deductions. Are ther any tax implications that I need to be aware of?
@mschwartz1978 Although @CRitter3 is correct that there is no reason you will have any tax liability, you could have a reporting requirement, since you are selling the home. If you receive a Form 1099-S, for example, the sale is reported to the IRS. You would need to report the sale in that case so that the IRS does not treat the entire proceeds as taxable income.
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