• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Taxes on Sale of Second Home owned w/ Mom

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

R

robnbill

Guest
What is the name of your state? VA
In 1995 my Mom & I purchased a condo - for my Mom to live in. I paid the mortgage and taxes - but I lived in my primary home. The condo was held in joint tenancy with the right of survivorship. Mom died in Jan 2001. I sold the condo in Apr 2002. I assume the basis is what we paid jointly for the condo in 1995? On the condo for my 2002 return, how do I treat the profit on the condo? Thanks.
 



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top