Question

Have Guardianship for my parents, sold their house, have 1099S under my Social Security Number, with gaurdianship as name.

How do I file the 1099S? Do I file it under my return, and how do I not pay taxes for the sale of a house that isnt mine?

Employee

You can use Code N on your Form 8949 to indicate you received Form 1099-S as a nominee for the actual owner of the property on your return.

You can then enter the transaction on your parents' return. Do they qualify for the home sale exclusion?

Yes they qualify for the exclusion. Thank you for responding!

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