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Updated over 8 years ago on .

Red Peterson's profile image
Red Peterson's profile image
Red Peterson
  • from Sycamore, Illinois
  • Member since Jul 1, 2016
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48
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Red Peterson's profile image
Red Peterson's profile image
Red Peterson
  • from Sycamore, Illinois
  • Member since Jul 1, 2016
Connect
Red Peterson
  • Sycamore, IL
14
Votes |
48
Posts
Starting Out

Tax Benefits on partnership-how does it work?

Red Peterson
  • Sycamore, IL
Posted
Has anyone did partnership where both parties are in for mortgage loan & downpayment/closing cost? How does this impact tax returns/ benefits? Like how will each party claim expenses for write offs and how will each party claim property interest deduction; moreso, rental income tax implications? Im weighing if its best to partner 50/50 or just get cash loan for partnership. Thanks everyone!
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