Selling a shared home

[slarson61]

What is the name of your state? Montana
I purchased a house with my brother 4 years ago. We have shared all expenses up to this point and it has been both of our primary residence through this time. I am now moving and we are working out an agreement for him to purchase my share.
Does anyone know the tax consequences of this type of transactions? Should his payments to me be a lump sum or spread out over time? Also, are there any specifics that this type of deal should include so it is fair financially to both of us?

Post this in the tax forum.

Tell them we sent you so no one barks at you for double posting.

[HomeGuru]

Thanks,

signed,

Pluto and Lassie.

[HomeGuru]

Originally Posted by veronicalouise

You two really should go to Vegas, you may have some potential as an act, duo**************..I think outside of the showgirls, the comedians are the favorites. If that isn't an option, you are great enertainment for the rest of us here. Thanks.

**A: if we go to Vegas, are you going to meet us there? How would we know its you?