Many questions to be answered

1. What was the date that you co-signed the mortgage?

2. How many co-signers were there?

3. What was the amount of the mortgage?

4. During the term of the mortgage, did you make any contributions

to the mortgage? If so, how much?

5. What was the date that you received the $80,000?

6. Are you employed in the financial services industry such as a

mortgage broker or was this just an isolated transaction, perhaps

to help someone obtain a mortgage?

If you can answer these questions, then I can tell you what your tax position is and why.

I cosigned a mortgage but was not on title. I was paid 80,000 when the house sold. How do I claim this money on my taxes?