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Updated over 4 years ago on . Most recent reply

User Stats

42
Posts
13
Votes
Jess Archives
  • Rental Property Investor
13
Votes |
42
Posts

50/50 Partnership, Deductions, and One Name on Loan

Jess Archives
  • Rental Property Investor
Posted

I’m trying to understand how to structure a 2 person partnership.

Money and profit is split 50/50.But the loan will be in my name. We’re doing the first few purchases with an Operating Agreement only.

Does anyone see an issue with this? Specifically come tax day? Can my partner deduct expenses even if his name isn’t on the loan?

 

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