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Primary residence that is jointly owned by my wife and I considered a partnership agreement?

Posted 15 November 2015 under Tax Q&A


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Qazas says:
14 November 2015 at 12:31

My wife and I sold our primary residence this year. The property was on both our names. One of the questions on the tax return is:

"Was the joint ownership described in a contractual partnership agreement?"

Does this apply?

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.

TaxTim TaxTim says:
15 November 2015 at 10:12

Are you married in community of property?

Qazas says:
15 November 2015 at 19:38

No, we are married ANC with accrual. However, we bought the property before we were married and placed it on both our names.

TaxTim TaxTim says:
15 November 2015 at 22:07

You can ignore the partnership question and include 50% of the proceeds and base cost.


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235 DAYS
LEFT OF
TAX SEASON
2017


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

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