Updated over 4 years ago on . Most recent reply
Partnerships and tax implications
I currently own 5 SF rentals with a partner. All conventional financing... some houses in my name and some in my partners. Is there a strategy that would allow us to each claim half of the income and half of the mortgage interest deduction? Also, if we were to sell one of the homes, a way to ensure that any cap gain is split equally. I have considered creating an LLC and deeding properties into it but am concerned about "due on sale" clause.
Most Popular Reply
No problem. be happy to chat. Let me know. Good luck.