REquestion
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Thank you AmeliesUncle and MartinMarks1919. I did discuss with my accountant today and he was also of the opinion that we could be co-owners and not a partnersh...
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Ok, I don't want the IRS t-shirt😥! Partnership is the way to go! Many many thanks for all the great advice. Much appreciated 🙂
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I will definitely seek tax advice first thing tomorrow morning. I googled partnership formation and stumbled on the IRS publication regarding partnerships and t...
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Thank you all so much for your help. Am I (hopefully) correct in assuming that since the sale did not occur until 12/20/2020, that I am okay to "run" to a tax p...
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Oh - one more thing to add. The property is not paid off yet. Friend and I are in the process of refinancing and it is about to close. I had $90K in equity in t...
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