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Updated almost 2 years ago on . Most recent reply

Brian Liscio's profile image
Brian Liscio's profile image
Brian Liscio
  • from Little Falls, NJ
  • Member since Sep 23, 2014
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85
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Brian Liscio's profile image
Brian Liscio's profile image
Brian Liscio
  • from Little Falls, NJ
  • Member since Sep 23, 2014
Connect
Brian Liscio
  • Little Falls, NJ
49
Votes |
85
Posts
Buying & Selling Real Estate

Ending a family partnership

Brian Liscio
  • Little Falls, NJ
Posted

I’d love to hear your creative thoughts on this…

The property has about 200k equity and if sold on the MLS it would cost about $100k in cap gains etc..

Only one partner has been claiming the property on his taxes. If the other partner were to buy it at the original purchase price. (on paper) Would that eliminate the capital gains for the original tax paying partner and the other can just kick the tax can down the road?

Jersey City, New Jersey
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