House deed in my name. Parent paid in full for the home. How do I report that when I do my taxes?

Forum|Forum|1 year ago
January 24, 2025
1 reply
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Hello!

I'm hoping someone can help. In early 2024 my mother wanted to purchase a home but wanted the deed to be in my name as she is getting older and don't want me or my brother to go through the hassle of more paperwork when she passed. So the house deed is in my name but she wired the money for the home out of her bank account. This is not my primary home as I live 2 hours away from her. How do I file this property on my taxes? Just not sure how to get the information right as the money wasn't mine. Any help and guidance would be appreciated. Thank you.

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xmasbaby0

Employee

You have nothing to enter about the house on your tax return. You do not enter that you have a deed. You would only enter mortgage interest, property tax or loan origination points paid----and it sounds like you have none of those things to enter, since Mom paid.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

pchannieAuthor

This question has weighed heavily on my heart since the purchase. You have literally took so much weight off my shoulders. I just didn't want to fill information out incorrectly. Thank you so very much!