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Hi there,
Question related to Tax..
Can I distribute Principal amount of home loan under 80C between two People..
For example.. I Have principal amount of 2Lac.. and want to distribute it in 1.5 Lac & 50k between me and my Dad.. (my dad is co-owner in loan)
Can't find answer online so asking here.. if you find it... Link will be helpful.
Thanks
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Subject Expert
When you say “tax attorney”, what exactly are you looking for? Just tax advice / planning?
Subject Expert
Earnings on your flips are reported as ordinary income if you held it for less than a year or never put the property into service.
I can’t help with a tax attorney, just have talked with a lot of accountants about how to handle real estate based transactions.