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Updated 3 days ago on . Most recent reply presented by

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Candice Coates
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Tax, SDIRAs & Cost Segregation

Claiming interest on a joint investment

Candice Coates
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Who claims the taxes on the property?

  • Candice Coates
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    If its a partnership you can allocate by agreement as long as the allocation is the same for book purposes as it is for tax. Note that if only one partner gets the deduction it has to reduce that partner's capital account or it will be deemed not to have substantial economic effect - the precondition of special allocations.

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