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Are co-owners equally liable for capital gains when selling the property?
Are co-owners equally liable for capital gains when selling the property? The situation: my wife and I co-own a house in another state with our son, who has lived in it for 3+ years. He is going to sell this house after considerable capital gains and buy another one, in only his name because now he can qualify for a loan. My question: what happens to the capital gains? Are we on the hook for 2/3 of the capital gains t...
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