Bought co-owner's 50% share in a property? How capital gains tax applies when selling whole asset
· livemint.com
Buying a co-owner’s share in a jointly owned property can make capital gains tax calculations more complex when you sell the whole asset. The two shares may have different acquisition dates and costs, affecting how the gains are taxed.
Suppose you have jointly owned residential property with your sibling or with someone else, with each of you holding a 50% share. Later, you buy the co-owner’...