Legal Question in Real Estate Law in Florida

If you own a rental property with your parent do you need to form a LLC or a partnership for reporting income to the IRS?


Asked on 9/03/09, 9:38 pm

1 Answer from Attorneys
Frank J. Pyle Probate Attorney Throughout Florida

No. In effect, you have a partnership. Each owner reports their share on their individual tax return.

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Answered on 9/05/09, 11:17 am


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