Question

Rental properties.

Forum|Forum|6 years ago
March 13, 2020
1 reply
0 views

I owned 4 rental properties with 5 other individuals, as of July 1, 20199 the properties were divided and I came to own 100% of just one property, how would I treat the transactions?

Tax Advice

AmyC

Employee

It would flow through from the business onto your K1. That would be your basis in the building. The business returns are due March 16 and then K1 forms are issued. You probably just have not gotten yours yet.

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