itonewbie
Level 15
02-22-2021
10:24 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Joint ownership of a rental property generally doesn't give rise to the establishment of a partnership for federal tax purposes pursuant to §301.7701-1 and various rulings provided certain conditions are met. These include, inter alias, co-owners holding titles as tenants in common and not treating the co-ownership as an entity.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar