@Carl wrote:
The mere co-ownership of property, even if used for rental purposes, does not automatically create a partnership.
Never said it did. But with each individual reporting on their own SCH E it does have the high potential of creating an absolute nightmare when unexpected things happen.
Forming a partnership with the attendant compliance costs (including having to file a 1065 each year) is even worse.
Do you believe that each partner owns real estate if a partnership is formed?
