Need Taxes Help, looking to chat with a CPA!
Hello,
I have a partner and we are looking to form a partnership to buy a duplex. I am a bit confused as to how write-offs work within pass-through entities. Does each person write off interest and depreciation relative to their ownership%? Is there any way to creatively structure it so that my partner (who is in a much higher tax bracket) can write off all of the interest and depreciation?
Thanks,
Tanner