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Updated about 12 years ago, 11/08/2012
Partner's 1099s in sale
I'm selling a flip for $230,000. I have some partners but the house is in my name. Upon sale of the house, should we each put one third of the 230,000 on our 1099s or should my partners just put the amounts they are each receiving and put the rest (the majority) under my name? I don't have an accountant available that I can ask.
Thanks!