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Updated over 6 years ago,
Partnership Income / Deduction Split
Hi BP. I have a feeling this will be a stupid question but here it goes.
I have a partner who only wants the tax benefits of real estate and is not concerned about the property income. Is it possible to purchase real estate as a partnership LLC and have all the deductions be unevenly split between the partners?
For example: I would receive all income from the property (rent) and my partner would receive all of the deductions?
Thanks in advance