on mortgages deeds etc is the tax ID ever the same for 2 different people ?
I just found a mortgage record was done by my sister under what I think was our mothers tax ID…reason being is that the Id # on a quit claim deed in 1999 with mothers name & a mortgage record in my sisters name in 1998 Are the same tax ID’ #’s For the same property.
can that be right ? & can the same tax ID # be listed for 2 different people if they are mother & daughter or husband & wife ?
No the tax ID number should not be the same for 2 different people. Generally, unless there is a business is involved, the tax ID number is your Social Security number.
There are two types of Tax ID’s. There ones associated with a business and ones associated with a PROPERTY for property tax purposes.
Unless you or your mother owned a business, they would not have had a Tax ID to use on the property….SS#’s are used and Tax ID’s are NEVER the same for two businesses.
The Tax ID for the property never changes no matter who owns the property…I have a feeling that this is your situation.
Two answers to this question, Yes and No.
A Tax I.D. is a number given to a Corp, LLC, or Individual for business tax purposes. If you are an S-Corp with two primary share holders, than yes, the Tax I.D. will be the same for both individuals. The Tax I.D. is for the business which becomes an entity under the corp formation.
In the case of an LLC or sole owner of a business, the Tax I.D. will be unique to that individual. The Sole owner would use his SSN as a tax I.D. whereas the LLC would get a unique I.D.
Keep in mind an LLC is a “Flow-Through” entity so even though the Tax I.D. is associated with an Individual it is not his/her SSN.
Hope this helps.
Nano,
Business would have an EIN number, Employer Identification Number, people would have tax ID number, their social security number.
EIN – 38-1111111
TIN – 987-987-987
In reference to the above question. Maybe your mother and sister bought the house together in 1998 and your mother was listed as primary, for credit purposes or income purposes. You mother then signed a QCD to take her name off from the property. In this instance, I would assume the TIN or tax identification number would be the same for both documents.
Problem is, it looks as if your mother is still responsible for the home mortgage but has no stake in the investment. Did your sister refinance this house into her name entirely in 1999? That would be the only likely explanation as to why those are the same.