GJSRana
Returning Member

Tax benefit on mortgage buyout of a rental property from partner

I bought house as a rental property on a shared(50-50) basis in 2014. In 2019 i bought share of my partner through refinancing and paid him whatever his share was . My question is how do i incorporate the money i spent  to buy his share in taxes and  what deductions and benefits i can get in 2019 tax return.