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Investors & landlords
Yep, I agree with AmeliesUncle on this one because as was said "mere co-ownership is not a partnership" by only the status of co-ownership. The problem is you then have to enter this as a sale of half of your rental property which involves capital gain and depreciation recapture and you wouldn't have to do that if you treated this deal as a contribution to a partnership.
‎January 8, 2021
3:44 PM