I guess nobody can read what I wrote. We formed a Partnership already. A Partnership files a 1065 - got it. I knew that. What I was asking was about the Tenancy in common. We were under the impression that we file the partnership with all income and expenses from the property held as Tenancy In Common.
I was wanting to know if we file all income and expenses for the property get filed under the partnership tax return or split its on the personal tax separately on Schedule E's(on each of our personal taxes). If that is the case. Do we report anything under the partnership?
I am reading different things regarding how to treat the Real estate held by "Tenancy in Common"
So with that being said are you saying the IRS ruling negates the Tenancy in Common if we file all of that under a partnership?
