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Investors & landlords
When you report your basis in the property, you will not report the full amount.
The basis of the total property is $13,300. The basis in your "portion" of the property is 1/8 of $13,300 or $1,662.50. (1/2 of the basis is claimed by your uncle, and the other 1/2 of the basis is split in 4 between you and your siblings).
‎June 7, 2019
3:42 PM