My mother quit claimed her home to me two years ago and mortgage stayed in her name. My mother paid for the mortgage monthly. I sold the home this year because she moved in with me. I received a 1099 for the gross amount of the sale of the home. Will I be able to only pay taxes on the net (after mortgage was paid off from the sale of the home)?
Thanks for any help!
Thanks for any help!
Federal Taxes: Do I Have to Pay Federal Taxes Off of Gross Sale of House Quit Claimed to Me
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