Q: My mother sold an acre of her life estate that my sister will get. The check was in my sister's name. But my mom got it.
The tax preparer told my sister to have my mom report it on here taxes, but the 1099-s is my sister's name. Who reports it?
A: If your mother was the owner of a life estate and she sold her interest in the life estate then the proceeds from the sale should have been earmarked for your mother only and the 1099-s should have consistently named your mother as well. Once your mother received the proceeds, unless there are other facts not so presented, she would have been entitled to then give the proceeds to whomever she wanted to give them to.
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