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Are there tax implications (deductions or tax owed) on a buy-out payment to a former partner for a home after separation (not married)?
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April 8, 2020
7:58 AM
Anonymous
Not applicable
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Get your taxes done using TurboTax
your basis for depreciation for the portion you acquied is what you paid split betwwen land and buliding. deprecition for that portion starts on the date you bought it.
April 8, 2020
12:45 PM