How to do tax return on 25/75 partnership
Hello,
I am purchasing a rental where I put 25% of the money and my mother put the 75%.
There is no LLC, etc. The county registers the equity percentage.
I was thinking about doing a K1 but it seems to be for legal structure / LLC stuff.
How do you show you own and receive x% of rental income expenses and depreciation on a tax return ?
Thanks in advance,
Charles