Author Topic: Owning real estate with a partner  (Read 1137 times)

FCharlie

  • Sr. Member
  • ****
  • Posts: 301
Owning real estate with a partner
« on: December 16, 2016, 06:23:25 AM »
Hi,

 I own residential rental property 50/50 with a partner. If we sold the property, is there a rule about how it gets reported on taxes? Could either of us choose to report the sale and capital gain to the IRS or do we have to split it 50/50? This property is in the United States.



fareastwarriors

  • Hero Member
  • *****
  • Posts: 3356
Re: Owning real estate with a partner
« Reply #1 on: January 11, 2017, 01:19:43 PM »
I believe each partner would needs to report their portion of the sale, assuming both names are on everything.
« Last Edit: January 11, 2017, 04:14:35 PM by fareastwarriors »