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Updated 11 months ago,
How to reduce taxes on a home sale as an unofficial partial owner?
So if I contributed some money to my dad when he bought an investment property - I made the PSA deposit during the transaction. Verbal agreement is I’m part owner of the property, but we’re flexible on semantics as long as profits are divided up proportionately.
His Trust is the sole owner on title with me as the beneficiary. Now he wants to sell the property. How do I get my money back with minimal tax liability?
Current ideas are to view it as a partnership, or an interest-bearing loan from me to him.