Sale of home as a co-signer

[Matt161]

In 2024 I was a co-signer on a home that  my mom sold. She made all the mortgage payments but she needed someone to cosign the mortgage. She sold the home in 2024 and I was given a check which I immediately wired to her as the proceeds of the sale were not mine. My question is do I need report anything to the IRS as I did not receive anything from the sale of the home? Thank you! 

[MaryK4]

No, you would not be required to report anything to the IRS if you were only the co-signor on the mortgage but did not make any payments or receive any of the proceeds from the sale.

[Matt161]

Is that the case even if I was on the deed? I received 50% of the sale proceeds but I wired that to my mom.

[RobertB4444]

No, that is not the case if you were on the deed and if you received half of the sale proceeds.  You may receive a 1099-S or other documentation showing that the sale proceeds were paid to you.  

If that is the case then you need to make sure that your mother is reporting 100% of the sale proceeds on her tax return.  You can also create a 1099-S from you to her showing that the sales proceeds were passed to her.

@Matt161