This web reference explains the differences between Joint Tenancy, Tenants in Common, and Tenancy by the Entirety. With Joint Tenancy, the IRS regards each tenant as owning 50% of the property. <a rel="nofollow" target="_blank" href="
http://taxes.lovetoknow.com/tax-tips-joint-home-ownership">http://taxes.lovetoknow.com/tax-tips-join...>
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
