buy-out of a general partnership - Posted by pam

import · March 10, 2002, 5:27am

Posted by PAM on March 12, 2002 at 09:08:04:

Had some rental property with a friend…I wanted out of the partnership…the amount was 20 grand.We did a quit claim deed…cut and dried…how long before I have to pay taxes on the money?

import · March 10, 2002, 5:27am

Posted by pam on March 10, 2002 at 06:27:05:

Is there a time limit on the monies one receives from a general partnership buy-out before one is forced to pay taxes on it?

import · March 11, 2002, 9:39am

Re: buy-out of a general partnership - Posted by JHyre in Ohio

Posted by JHyre in Ohio on March 11, 2002 at 10:39:44:

That question is much too general for me to answer. Try to explain the situation a bit more, but without getting SO specific that I will avoid answering for free!

John Hyre