Story:
Daughter and mother brought a house for $300s . Few years later the house worth $ 800. The daughter decided to sell the property for $800. However since the property is under both name which her mother isn't a primary resident on the sold property. Capital gain are $100k.
However the daughter will not pay for the capital gain since she was scammed by her mother to put her mother on the title to get mortgage with special rate. Also the daughter claim her mother only paid 30000 down payment the rest was paid by her the daughter therefore sthe daughter reject to pay the capital gain for $100 k to the tax revenue.
The daughter and the mother is currently going on court for this matters suing each other.
Question if the daughter wins she don't need to pay any capital gain to the tax revenue since is her first primary property
The story sounds to me the daughter and mother is just trying to scam the government not willing to pay $100 000 capital gain the profit they made.
Daughter and mother brought a house for $300s . Few years later the house worth $ 800. The daughter decided to sell the property for $800. However since the property is under both name which her mother isn't a primary resident on the sold property. Capital gain are $100k.
However the daughter will not pay for the capital gain since she was scammed by her mother to put her mother on the title to get mortgage with special rate. Also the daughter claim her mother only paid 30000 down payment the rest was paid by her the daughter therefore sthe daughter reject to pay the capital gain for $100 k to the tax revenue.
The daughter and the mother is currently going on court for this matters suing each other.
Question if the daughter wins she don't need to pay any capital gain to the tax revenue since is her first primary property
The story sounds to me the daughter and mother is just trying to scam the government not willing to pay $100 000 capital gain the profit they made.