778861
My mother and I are both on the title of my second house.
I pay all the mortgage on the second house; my parents live there for free.
Although I cannot exclude the profit from my capital gain tax, if my mother files tax jointly, she can excluded up to $500,000, correct? Then, as long as the profit falls under $500,000, can she claim 100% of the profit and me 0%? If so, then all of our capital gain taxes would be $0, right?
You'll need to sign in or create an account to connect with an expert.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
stevestock
New Member
mwall777
New Member
sonofthebearded
Returning Member
krissilc5
New Member
in Education
Indeterminate
Level 2