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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
‎October 24, 2018
8:52 AM