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| 2 taxpayers split tax payable in the amount of 200,000. based on each receiving a property from an estate. Property No. 1 has a gain of $900,000. Property No. 2 has a gain of $300,000. How would you calculate tax payable for Property NO. 2 Are there any deductions against the gain and if so who would get the deduction. Someone suggested subtracting one tax return from the other. Someone suggested calculation based on percentages of gain. | |
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Capital Gains Tax Question
