topic I have a rental property with co-owners and plan to buy out some of the co-owners in the future. How would this transaction be treated for tax purposes? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-have-a-rental-property-with-co-owners-and-plan-to-buy-out-some-of-the-co-owners-in-the-future-how/01/916111#M3265 <P>I own a rental property with my spouse and parents (everyone has 25% ownership) In 5 years my spouse and I plan to buy out my parents' share so that my spouse and I own 50% each. How is this transaction treated for tax purposes for all of the parties involved?<BR /></P> Wed, 30 Oct 2019 18:01:33 GMT julieaitkin 2019-10-30T18:01:33Z I have a rental property with co-owners and plan to buy out some of the co-owners in the future. How would this transaction be treated for tax purposes? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-have-a-rental-property-with-co-owners-and-plan-to-buy-out-some-of-the-co-owners-in-the-future-how/01/916111#M3265 <P>I own a rental property with my spouse and parents (everyone has 25% ownership) In 5 years my spouse and I plan to buy out my parents' share so that my spouse and I own 50% each. How is this transaction treated for tax purposes for all of the parties involved?<BR /></P> Wed, 30 Oct 2019 18:01:33 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-have-a-rental-property-with-co-owners-and-plan-to-buy-out-some-of-the-co-owners-in-the-future-how/01/916111#M3265 julieaitkin 2019-10-30T18:01:33Z You will increase the Adjusted Cost Base (ACB) of your ow... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/you-will-increase-the-adjusted-cost-base-acb-of-your-ow/01/916112#M3266 <P>You will increase the Adjusted Cost Base (ACB) of your ownership based on the purchase price of the remaining owners share and the seller will have either a Capital Gain or a Capital Loss.</P> Wed, 30 Oct 2019 18:01:34 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/you-will-increase-the-adjusted-cost-base-acb-of-your-ow/01/916112#M3266 TurboTax-Terry 2019-10-30T18:01:34Z
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topic I have a rental property with co-owners and plan to buy out some of the co-owners in the future. How would this transaction be treated for tax purposes? in Investors and rental owners
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<P>I own a rental property with my spouse and parents (everyone has 25% ownership) In 5 years my spouse and I plan to buy out my parents' share so that my spouse and I own 50% each. How is this transaction treated for tax purposes for all of the parties involved?<BR /></P>
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I have a rental property with co-owners and plan to buy out some of the co-owners in the future. How would this transaction be treated for tax purposes?
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/i-have-a-rental-property-with-co-owners-and-plan-to-buy-out-some-of-the-co-owners-in-the-future-how/01/916111#M3265
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You will increase the Adjusted Cost Base (ACB) of your ow...
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<P>You will increase the Adjusted Cost Base (ACB) of your ownership based on the purchase price of the remaining owners share and the seller will have either a Capital Gain or a Capital Loss.</P>
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