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RONB-ESQ, Lawyer
Category: Family Law
Satisfied Customers: 357
Experience:  Right of Way Manager at Access Midstream Partners, LP
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I own the house but my son is on the title and the mortgage.

Customer Question

I own the house but my son is on the title and the mortgage. house is sold and all is well
except he got a 1099. How do we treat this to avoid taxes. I am 81 and should be tax-exempt
Submitted: 6 months ago.
Category: Family Law
Expert:  RONB-ESQ replied 6 months ago.
Hello my name is ***** ***** I am a licensed attorney. I welcome you to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. The question and response may be viewed by other parties as noted in JA’s terms of service. By continuing, you confirm that you understand and agree to these terms. If the home was in his name and held for 2 years or more he should be able to claim an exemption of $250K, if he sales other property this may affect his ability to exempt future property. If the property and mortgage was in his name then for all legal purposes including taxes they are his responsibility. I know of no way to transfer the 1099 over to you as your name was not on the title or loan. The troubling part for me is sometimes I have to tell people an answer they don’t want to hear and I hope that you will not shoot the messenger by giving me negative feedback as I work hard to provide you a legally accurate answer. Negative feedback is reserved for those experts that provide incorrect answers or are rude to customers. Please rate me based on the legal accuracy of my answer and my professionalism in dealing with you. I feel I have a professional obligation to provide you the most accurate answer I can even if it is not what you want to hear so that you understand your rights and can act on those rights. If you have any questions or concerns about my response, please reply and let me know. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I receive credit for the time I spent answering your question, additionally a bonus is not required but always greatly appreciated. If for some reason you don’t feel you can provide me positive feedback please reply and give me the opportunity to clarify my answer before giving me negative feedback.Regards, Ron
Expert:  RONB-ESQ replied 6 months ago.
I wanted to give you a heads up that I am going offline for awhile. I should be back online around 1:00 PM CST. I didn't sleep last night so that may kick in at some point and I may be out for a nap, but I will check in around 1:00 and respond to any further questions you have. Regards,Ron

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