I had 50% share on a rental property, I purchased other 50% share in August 2021. We had to go through the entire sale process like lawyer fee, land transfer fee etc, and I bought the property with 100% share. How do I report this transaction in 2021 tax return?
How to report share increment on rental property
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I had 50% share on a rental property, I purchased other 50% share in August 2021. We had to go through the entire sale process like lawyer fee, land transfer fee etc, and I bought the property with 100% share. How do I report this transaction in 2021 tax return?