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I bought the house from my partner in September of 2006. So, do we split the tax benefit afforded by the home through September? Does my partner owe any type of sales tax?

Thanks for your help!

1 Thought on I owned a home with someone and then I bought the house from them in 2006. How do we do our taxes house wise?
  1. Reply
    m2
    August 2, 2011 at 9:52 am

    you go 50/50 for the house/profit/expenses etc..until sept..and then your 100% ..on taxes they do a daily rate and not monthly ….the forms should be in there..or do the rental property in 2 sets….you do there first for..joint ownership which ends SEPTEMBER.. AND THEN A SEPARATE ONE WITH YOU AS SOLE OWNER STARTING SEPTEMBER and ending dec.31/06..
    it really is simple…. open the forms and start doing it..
    took me 5 hours to finish my final draft…
    hire someone if you don’t have the time to do it..

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