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Old 07-08-2004, 01:17 AM
ELofty
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types of investment property ownership?

What is the name of your state? Nevada

Myself and a partner live in Nevada and are buying some investment properties in Phoenix. I have read about two options of ownership, "tenants in common" and an "S corporation", which seem to fit our situation. Can somebody tell me which is best regarding tax laws and long term capital gains when we do decide to sell? Is an accountant an absoute neccessary when dealing with investment property? Thank you for your time and advice.
Erik
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Old 07-08-2004, 02:10 AM
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Quote:
Originally Posted by ELofty
What is the name of your state? Nevada

Myself and a partner live in Nevada and are buying some investment properties in Phoenix. I have read about two options of ownership, "tenants in common" and an "S corporation", which seem to fit our situation. Can somebody tell me which is best regarding tax laws and long term capital gains when we do decide to sell? Is an accountant an absoute neccessary when dealing with investment property? Thank you for your time and advice.
Erik

***You will probably get a quicker response if you post this in the Tax Forum***
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Old 07-08-2004, 10:54 AM
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Plus that you are confusing tenancy with a type of legal entity.
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