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Joint condo ownership raises depreciation question (access required)

DEAR BENNY: In April 2001, a friend and I purchased a condo in California for $100,000. We are on title as tenants in common. My wife and I own 50 percent, and my friend owns 50 percent. The loan is in my wife's and my name only. Because the property is now worth only about $50,000, ...

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