How does the IRS value property held between husband and wife as tenants by the entirety?
This type of tenancy presents complex legal problems to the IRS, so it evaluates the interest of each spouse to be less than half the total value of the property. Twenty percent of the total value is generally considered each spouse’s net worth in the property. Property held as tenants in common or joint tenancy are fully valued based upon the taxpayer’s percentage of interest.
Related Questions
- Can the vacant units held available for qualified tenants be counted toward the number of units needed to meet the propertys set-asides?
- Can the vacant units held available for qualified tenants be counted toward the number of units needed to meet the property’s setasides?
- How does the IRS value property held between husband and wife as tenants by the entirety?
