Runwdw
New Member

Capital gain on sale of property

I am in the process of purchasing a home for a flip. I am expecting to make enough that I will owe capital gains tax. I have a large capital gain loss from years prior to 2018. To qualify for the mortgage, I need to have a co-signer. This person would be on title to the home also.  When I sell, can I take the gain on me only so that I can use my old loss to offset our profit? or because I have another person on the title do we have to split it?  Thanks, Dave G