Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

14
Posts
1
Votes
Jim Huber
  • Jacksonville, FL
1
Votes |
14
Posts

Income Tax on a rental home

Jim Huber
  • Jacksonville, FL
Posted

I have a rental home with an old Girlfriend  I know not smart !! I do not want to have any interest in this home and have decided to quit claim my interest in the home back to her.I am not on the Mortgage.My CPA informed me that becausae of the number of years it was rented  Depreciation etc that my income tax burden is around 8K. Is there any way to defer this tax burden or minimize it? I read somewhere that if she agreed to an agreement to pay me back for my interest this would affect the tax situation?Thanks

Loading replies...