Business & farm

Thank you for your reply. Here are the numbers: original purchase of $680k, we paid a down payment of 20% with our shared account (money of both of us), and applied for a loan for the difference.

Now one of us would give $200k to the other as buyout, in consideration of the current equity of $400k.

Can you please tell me what  the basis would be for the new only owner of the house?